Workday (WDAY) Given “Buy” Rating at KeyCorp

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KeyCorp reissued their buy rating on shares of Workday (NASDAQ:WDAY) in a report released on Wednesday morning, AnalystRatings.com reports. The firm currently has 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.”,” KeyCorp’s analyst commented.

Other equities research analysts have also issued reports about the company. Bank of America reiterated a buy rating and issued a $208.00 price objective (up from $175.00) on shares of Workday in a research note on Friday, March 1st. Needham & Company LLC reiterated a buy rating and issued a $230.00 price objective (up from $170.00) on shares of Workday in a research note on Friday, March 1st. Monness Crespi & Hardt reiterated a buy rating and issued a $220.00 price objective (up from $185.00) on shares of Workday in a research note 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 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 report on Friday, March 1st. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $186.00.

WDAY stock opened at $210.72 on Wednesday. Workday has a 1-year low of $117.24 and a 1-year high of $213.98. The company has a market capitalization of $46.78 billion, a PE ratio of -172.72 and a beta of 1.79. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.11.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, February 28th. The software maker reported ($0.29) earnings per share for the quarter, beating the 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 company had revenue of $788.63 million for the quarter, compared to analyst estimates of $776.84 million. Analysts forecast that Workday will post -1.2 earnings per share for the current year.

In other Workday news, CEO Aneel Bhusri sold 300,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $179.58, for a total transaction of $53,874,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP James P. Shaughnessy sold 4,800 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $184.98, for a total value of $887,904.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,126,562 shares of company stock worth $208,547,706. Company insiders own 29.80% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Legal & General Group Plc raised its position in shares of Workday by 2.0% during the 3rd quarter. Legal & General Group Plc now owns 547,832 shares of the software maker’s stock valued at $79,972,000 after acquiring an additional 10,756 shares during the last quarter. Vanguard Group Inc raised its position in shares of Workday by 0.8% during 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. Virtu Financial LLC bought a new stake in shares of Workday during the 4th quarter valued at $507,000. Nisa Investment Advisors LLC raised its position in shares of Workday by 633.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,265 shares of the software maker’s stock valued at $1,639,000 after acquiring an additional 8,865 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Workday by 7.2% during the 4th quarter. Bank of Montreal Can now owns 134,223 shares of the software maker’s stock valued at $21,433,000 after acquiring an additional 9,023 shares during the last quarter. 85.43% of the stock is currently owned by hedge funds and other 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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Analyst Recommendations for Workday (NASDAQ:WDAY)

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