Wedbush upgraded shares of Workday Inc. (NYSE:WDAY) from an underperform rating to a neutral rating in a research report report published on Wednesday. They currently have $82.00 price objective on the stock, up from their prior price objective of $69.00.
A number of other equities research analysts have also recently commented on the company. Deutsche Bank AG raised their price objective on Workday from $75.00 to $85.00 and gave the company a hold rating in a research note on Friday, September 16th. Needham & Company LLC reissued a hold rating on shares of Workday in a research note on Tuesday, August 30th. Cowen and Company reissued a market perform rating and issued a $83.00 price objective (up previously from $75.00) on shares of Workday in a research note on Friday, August 26th. Piper Jaffray Cos. reissued a neutral rating and issued a $80.00 price objective (up previously from $74.00) on shares of Workday in a research note on Friday, August 26th. Finally, Vetr cut Workday from a buy rating to a hold rating and set a $87.71 price objective for the company. in a research note on Thursday, August 25th. Two equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and seventeen have issued a buy rating to the company. Workday presently has a consensus rating of Hold and an average target price of $85.91.
Workday (NYSE:WDAY) opened at 91.18 on Wednesday. The firm’s market capitalization is $18.24 billion. Workday has a 12-month low of $47.32 and a 12-month high of $92.46. The company’s 50 day moving average price is $86.60 and its 200-day moving average price is $79.45.
Workday (NYSE:WDAY) last announced its quarterly earnings data on Wednesday, August 24th. The company reported ($0.04) EPS for the quarter, missing the Zacks’ 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 firm earned $377.70 million during the quarter, compared to analyst estimates of $372.68 million. During the same period last year, the business posted $0.02 EPS. The company’s revenue was up 33.6% on a year-over-year basis. On average, equities analysts anticipate that Workday will post ($0.03) earnings per share for the current fiscal year.
In other news, insider James Bozzini sold 12,500 shares of the business’s stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $90.50, for a total value of $1,131,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David A. Duffield sold 400,000 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $83.32, for a total value of $33,328,000.00. The disclosure for this sale can be found here. 41.78% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Tybourne Capital Management HK Ltd. raised its position 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 last quarter. State Street Corp raised its position in Workday by 4.1% in the first quarter. State Street Corp now owns 1,854,350 shares of the company’s stock worth $142,497,000 after buying an additional 73,344 shares during the last quarter. Southpoint Capital Advisors LP acquired a new position in Workday during the first quarter worth approximately $38,420,000. Legal & General Group Plc raised its position in Workday by 14.1% in the first quarter. Legal & General Group Plc now owns 430,683 shares of the company’s stock worth $33,094,000 after buying an additional 53,120 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Workday by 5.0% in the first quarter. Geode Capital Management LLC now owns 647,820 shares of the company’s stock worth $49,747,000 after buying an additional 30,992 shares during the last quarter.
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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