Workday, Inc. (WDAY) Rating Increased to Strong-Buy at BidaskClub
Workday, Inc. (NASDAQ:WDAY) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Wednesday.
A number of other brokerages have also recently commented on WDAY. JMP Securities cut Workday from a “market outperform” rating to a “market perform” rating in a research note on Tuesday, October 10th. FBN Securities raised Workday from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $115.00 to $125.00 in a research note on Wednesday, October 11th. Robert W. Baird reaffirmed a “buy” rating and issued a $114.00 price target on shares of Workday in a research note on Thursday, October 12th. Canaccord Genuity reaffirmed a “buy” rating and issued a $125.00 price target on shares of Workday in a research note on Friday, October 6th. Finally, UBS AG reaffirmed an “overweight” rating and issued a $116.00 price target (up from $115.00) on shares of Workday in a research note on Thursday, August 31st. Five equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $99.79.
Shares of Workday (WDAY) traded down $0.14 during midday trading on Wednesday, hitting $115.15. The company had a trading volume of 835,492 shares, compared to its average volume of 1,565,801. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.54 and a current ratio of 1.54. Workday has a 52 week low of $65.79 and a 52 week high of $116.32.
Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Wednesday, August 30th. The software maker reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.09. The business had revenue of $525.30 million for the quarter, compared to analysts’ expectations of $507.44 million. Workday had a negative return on equity of 24.07% and a negative net margin of 19.78%. The business’s quarterly revenue was up 40.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.04) EPS. equities analysts expect that Workday will post -1.33 earnings per share for the current year.
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In other Workday news, Director David A. Duffield sold 600 shares of the business’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $108.17, for a total value of $64,902.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robynne Sisco sold 2,317 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $109.32, for a total value of $253,294.44. The disclosure for this sale can be found here. Insiders have sold 1,542,724 shares of company stock worth $167,301,313 over the last 90 days. 37.71% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio boosted its holdings in Workday by 46.6% in the third quarter. Public Employees Retirement System of Ohio now owns 84,863 shares of the software maker’s stock worth $8,944,000 after acquiring an additional 26,967 shares in the last quarter. IFM Investors Pty Ltd bought a new stake in Workday in the third quarter worth $363,000. California Public Employees Retirement System boosted its holdings in Workday by 1.7% in the third quarter. California Public Employees Retirement System now owns 221,300 shares of the software maker’s stock worth $23,323,000 after acquiring an additional 3,800 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Workday by 418.4% in the third quarter. Cubist Systematic Strategies LLC now owns 122,840 shares of the software maker’s stock worth $12,946,000 after acquiring an additional 99,144 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Workday in the third quarter worth $2,276,000. 67.78% of the stock is currently owned by institutional investors and hedge funds.
Workday Company Profile
Workday, Inc is a provider of enterprise cloud applications for finance and human resources. The Company delivers financial management, human capital management and analytics applications designed for various companies, educational institutions and government agencies. As part of its applications, the Company provides embedded analytics that capture the content and context of everyday business events, facilitating informed decision-making from wherever users are working.
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