Workday Inc. (NYSE:WDAY)‘s stock had its “sell” rating reaffirmed by research analysts at Brean Capital in a research note issued to investors on Wednesday. They presently have a $62.00 price objective on the stock. Brean Capital’s target price would suggest a potential downside of 30.95% from the company’s current price.
Several other research firms have also commented on WDAY. First Analysis lowered shares of Workday from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $87.00 to $88.00 in a research note on Thursday, August 25th. Morgan Stanley lifted their price target on shares of Workday from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 25th. Citigroup Inc. lifted their price target on shares of Workday from $87.00 to $88.00 and gave the stock a “neutral” rating in a research note on Thursday, August 25th. BTIG Research reiterated a “buy” rating and issued a $97.00 price target on shares of Workday in a research note on Wednesday. Finally, Vetr downgraded shares of Workday from a “buy” rating to a “hold” rating and set a $87.71 price target for the company. in a research note on Thursday, August 25th. Two research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and seventeen have given a buy rating to the company. Workday presently has a consensus rating of “Hold” and a consensus target price of $85.33.
Shares of Workday (NYSE:WDAY) opened at 89.79 on Wednesday. The stock has a 50 day moving average of $85.70 and a 200 day moving average of $78.87. Workday has a 12 month low of $47.32 and a 12 month high of $90.88. The stock’s market cap is $17.96 billion.
Workday (NYSE:WDAY) last posted its quarterly earnings data on Wednesday, August 24th. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.02. Workday had a negative net margin of 25.71% and a negative return on equity of 26.89%. The business earned $377.70 million during the quarter, compared to analysts’ expectations of $372.68 million. During the same period in the previous year, the business posted $0.02 EPS. The company’s revenue for the quarter was up 33.6% compared to the same quarter last year. On average, equities analysts anticipate that Workday will post ($0.04) earnings per share for the current fiscal year.
In related news, insider Mark S. Peek sold 1,562 shares of the stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $87.32, for a total transaction of $136,393.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David A. Duffield sold 351,750 shares of the stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $88.23, for a total transaction of $31,034,902.50. The disclosure for this sale can be found here. Corporate insiders own 41.78% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Tybourne Capital Management HK Ltd. increased its stake in Workday by 139.6% in the first quarter. Tybourne Capital Management HK Ltd. now owns 2,955,095 shares of the company’s stock worth $227,069,000 after buying an additional 1,721,958 shares during the period. Vanguard Group Inc. increased its stake in shares of Workday by 7.5% in the second quarter. Vanguard Group Inc. now owns 8,269,840 shares of the company’s stock valued at $617,509,000 after buying an additional 577,294 shares during the period. Norges Bank purchased a new stake in shares of Workday during the fourth quarter valued at about $45,517,000. Emerald Acquisition Ltd. purchased a new stake in shares of Workday during the second quarter valued at about $39,136,000. Finally, Southpoint Capital Advisors LP purchased a new stake in shares of Workday during the first quarter valued at about $38,420,000.
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. It operates in the cloud applications segment.
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