Workday (NASDAQ:WDAY) was upgraded by Needham & Company LLC from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm currently has a $130.00 price objective on the software maker’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 15.08% from the stock’s previous close.

WDAY has been the topic of several other research reports. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Workday in a research report on Tuesday, November 28th. BidaskClub lowered shares of Workday from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 5th. Barclays lifted their price objective on shares of Workday from $108.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Friday, November 17th. Guggenheim initiated coverage on shares of Workday in a research report on Monday, October 30th. They issued a “neutral” rating and a $105.00 price objective on the stock. Finally, Bank of America lifted their price objective on shares of Workday from $123.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, November 27th. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eighteen have given a buy rating to the stock. Workday has a consensus rating of “Hold” and an average target price of $107.52.

Workday (NASDAQ:WDAY) opened at $112.96 on Monday. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.74. Workday has a 12-month low of $80.61 and a 12-month high of $121.98. The firm has a market cap of $23,721.60, a PE ratio of -68.88 and a beta of 2.01.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Wednesday, November 29th. The software maker reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10. The company had revenue of $555.40 million for the quarter, compared to analyst estimates of $541.05 million. Workday had a negative net margin of 16.91% and a negative return on equity of 19.73%. The firm’s revenue was up 35.6% on a year-over-year basis. During the same period last year, the firm earned $0.03 earnings per share. research analysts predict that Workday will post -1.1 EPS for the current fiscal year.

In related news, insider Mark S. Peek sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $100.92, for a total transaction of $1,513,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Aneel Bhusri sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $100.34, for a total transaction of $7,525,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,197,306 shares of company stock valued at $126,753,397. 37.71% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in WDAY. Advisor Group Inc. grew its stake in Workday by 22.5% in the 2nd quarter. Advisor Group Inc. now owns 1,283 shares of the software maker’s stock worth $123,000 after buying an additional 236 shares in the last quarter. FNY Managed Accounts LLC grew its stake in Workday by 607.7% in the 3rd quarter. FNY Managed Accounts LLC now owns 1,380 shares of the software maker’s stock worth $145,000 after buying an additional 1,185 shares in the last quarter. Toronto Dominion Bank grew its stake in Workday by 15.1% in the 2nd quarter. Toronto Dominion Bank now owns 1,536 shares of the software maker’s stock worth $149,000 after buying an additional 201 shares in the last quarter. IBM Retirement Fund purchased a new position in Workday in the 3rd quarter worth approximately $204,000. Finally, BlueSky Wealth Advisors LLC purchased a new position in Workday in the 3rd quarter worth approximately $206,000. 66.89% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Workday (NASDAQ:WDAY)

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