Workday’s (WDAY) “Buy” Rating Reaffirmed at KeyCorp
KeyCorp reiterated their buy rating on shares of Workday (NASDAQ:WDAY) in a research note released on Wednesday, AnalystRatings.com reports. They currently have a $235.00 price target on the software maker’s stock.
“We also found a handful of new job postings at unannounced customer Disney (200K+ employees) that is hiring a Senior HCM Architect with 5+ years of Workday technical skills. However, it is hard for us to discern how long Disney has been a customer. These unannounced HCM wins are in addition to the GEICO financials win we picked up last month.”,” the firm’s analyst commented.
Other equities analysts have also recently issued reports about the company. Bank of America restated a buy rating and set a $208.00 target price (up from $175.00) on shares of Workday in a research report on Friday, March 1st. Needham & Company LLC restated a buy rating and set a $230.00 target price (up from $170.00) on shares of Workday in a research report on Friday, March 1st. Monness Crespi & Hardt restated a buy rating and set a $220.00 target price (up from $185.00) on shares of Workday in a research report on Tuesday, February 26th. Barclays boosted their target price on Workday from $180.00 to $187.00 and gave the stock an equal weight rating in a research report on Friday, March 1st. Finally, Deutsche Bank boosted their target price on Workday from $155.00 to $190.00 and gave the stock a hold rating in a research report on Friday, March 1st. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $185.69.
Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, February 28th. The software maker reported ($0.29) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.02. Workday had a negative return on equity of 14.75% and a negative net margin of 14.82%. The business had revenue of $788.63 million during the quarter, compared to analysts’ expectations of $776.84 million. As a group, equities research analysts predict that Workday will post -1.2 earnings per share for the current fiscal year.
In other news, CEO Aneel Bhusri sold 300,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $179.58, for a total value of $53,874,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Duffield sold 1,054 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $205.21, for a total value of $216,291.34. The disclosure for this sale can be found here. In the last three months, insiders sold 1,126,562 shares of company stock valued at $208,547,706. 29.80% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc lifted its stake in shares of Workday by 0.8% in the 3rd quarter. Vanguard Group Inc now owns 12,604,769 shares of the software maker’s stock valued at $1,840,044,000 after acquiring an additional 98,167 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Workday by 6.8% in the 1st quarter. Jennison Associates LLC now owns 8,716,482 shares of the software maker’s stock valued at $1,680,974,000 after acquiring an additional 552,280 shares during the last quarter. Norges Bank bought a new stake in shares of Workday in the 4th quarter valued at about $198,900,000. Blair William & Co. IL lifted its stake in shares of Workday by 5.6% in the 1st quarter. Blair William & Co. IL now owns 1,077,343 shares of the software maker’s stock valued at $207,766,000 after acquiring an additional 57,358 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Workday by 3.3% in the 1st quarter. Northern Trust Corp now owns 1,019,275 shares of the software maker’s stock valued at $196,566,000 after acquiring an additional 32,907 shares during the last quarter. 68.79% of the stock is owned by institutional investors.
Workday Company Profile
Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.
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