Daiwa Capital Markets Begins Coverage on Workday (NASDAQ:WDAY)

Analysts at Daiwa Capital Markets began coverage on shares of Workday (NASDAQ:WDAY) in a report released on Friday, The Fly reports. The firm set a “buy” rating and a $320.00 price target on the software maker’s stock. Daiwa Capital Markets’ target price suggests a potential upside of 19.21% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC upped their target price on Workday from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday. Jefferies Financial Group restated a “buy” rating on shares of Workday in a research note on Monday, September 13th. BMO Capital Markets upped their price objective on Workday from $260.00 to $295.00 and gave the stock a “market perform” rating in a research note on Friday, August 27th. Mizuho upped their price objective on Workday from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 27th. Finally, Oppenheimer restated a “buy” rating and set a $285.00 price objective (up from $265.00) on shares of Workday in a research note on Friday, August 27th. Four analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Workday has a consensus rating of “Buy” and a consensus target price of $303.70.

Shares of Workday stock opened at $268.43 on Friday. Workday has a 52 week low of $201.62 and a 52 week high of $282.77. The company has a market capitalization of $66.57 billion, a PE ratio of -1,491.19 and a beta of 1.28. The stock’s fifty day moving average is $250.47 and its two-hundred day moving average is $244.75. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.17.

Workday (NASDAQ:WDAY) last issued its earnings results on Wednesday, August 25th. The software maker reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.45. Workday had a positive return on equity of 3.49% and a negative net margin of 0.79%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the business earned $0.84 EPS. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. As a group, research analysts anticipate that Workday will post 0.09 earnings per share for the current year.

In other news, insider Richard Harry Sauer sold 2,469 shares of the firm’s stock in a transaction dated Thursday, July 15th. The stock was sold at an average price of $228.37, for a total transaction of $563,845.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gomez Luciano Fernandez sold 1,605 shares of Workday stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $274.00, for a total value of $439,770.00. The disclosure for this sale can be found here. Insiders sold a total of 299,105 shares of company stock worth $80,910,048 over the last ninety days. Corporate insiders own 24.06% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of WDAY. Point72 Hong Kong Ltd grew its position in Workday by 41.3% during the 1st quarter. Point72 Hong Kong Ltd now owns 19,378 shares of the software maker’s stock worth $4,814,000 after purchasing an additional 5,660 shares in the last quarter. Frontier Capital Management Co. LLC lifted its stake in shares of Workday by 2.0% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 205,571 shares of the software maker’s stock valued at $49,078,000 after purchasing an additional 4,039 shares during the last quarter. Principal Financial Group Inc. lifted its position in Workday by 12.7% during the 1st quarter. Principal Financial Group Inc. now owns 15,325 shares of the software maker’s stock worth $3,807,000 after acquiring an additional 1,725 shares during the last quarter. Bbva USA bought a new position in shares of Workday during the 2nd quarter worth about $2,339,000. Finally, Pictet & Cie Europe SA bought a new position in shares of Workday during the 1st quarter worth about $281,000. Institutional investors and hedge funds own 69.20% of the company’s stock.

Workday Company Profile

Workday, Inc engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management and analytics applications designed for companies, educational institutions and government agencies. The company was founded by David A.

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