Morgan Stanley upgraded shares of Workday (NASDAQ:WDAY) from an equal weight rating to an overweight rating in a research report sent to investors on Wednesday, January 10th, MarketBeat Ratings reports. The firm currently has $145.00 target price on the software maker’s stock, up from their previous target price of $108.00.
Several other brokerages have also recently weighed in on WDAY. JMP Securities cut Workday from a market outperform rating to a market perform rating in a report on Tuesday, October 10th. FBN Securities upgraded Workday from a sector perform rating to an outperform rating and raised their price objective for the company from $115.00 to $125.00 in a report on Wednesday, October 11th. Robert W. Baird restated a buy rating and issued a $114.00 price objective on shares of Workday in a report on Thursday, October 12th. Canaccord Genuity restated a buy rating and issued a $125.00 price objective on shares of Workday in a report on Friday, October 6th. Finally, Citigroup restated a sell rating and issued a $85.00 price objective on shares of Workday in a report on Thursday, November 30th. Two analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. Workday currently has a consensus rating of Hold and an average price target of $106.81.
Shares of Workday (WDAY) traded down $0.86 during midday trading on Wednesday, hitting $119.03. The stock had a trading volume of 1,071,970 shares, compared to its average volume of 1,561,763. The company has a market cap of $25,254.60, a PE ratio of -72.58 and a beta of 1.83. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.11 and a quick ratio of 2.11. Workday has a 12 month low of $80.61 and a 12 month high of $121.98.
Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Wednesday, November 29th. The software maker reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.10. The company had revenue of $555.40 million during the quarter, compared to analysts’ expectations of $541.05 million. Workday had a negative return on equity of 19.73% and a negative net margin of 16.91%. Workday’s revenue for the quarter was up 35.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.03 EPS. sell-side analysts anticipate that Workday will post -1.1 earnings per share for the current fiscal year.
In other news, Director David A. Duffield sold 482,001 shares of Workday stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $103.77, for a total value of $50,017,243.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robynne Sisco sold 5,061 shares of Workday stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $110.53, for a total transaction of $559,392.33. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,197,306 shares of company stock valued at $126,753,397. 37.71% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its position in shares of Workday by 2.5% in the second quarter. Nordea Investment Management AB now owns 3,413 shares of the software maker’s stock valued at $331,000 after buying an additional 83 shares in the last quarter. Toronto Dominion Bank increased its stake in Workday by 15.1% in the second quarter. Toronto Dominion Bank now owns 1,536 shares of the software maker’s stock valued at $149,000 after acquiring an additional 201 shares during the last quarter. Advisor Group Inc. increased its stake in Workday by 22.5% in the second quarter. Advisor Group Inc. now owns 1,283 shares of the software maker’s stock valued at $123,000 after acquiring an additional 236 shares during the last quarter. Suntrust Banks Inc. increased its stake in Workday by 6.9% in the second quarter. Suntrust Banks Inc. now owns 4,053 shares of the software maker’s stock valued at $393,000 after acquiring an additional 263 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Workday by 6.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 7,862 shares of the software maker’s stock valued at $763,000 after acquiring an additional 464 shares during the last quarter. Institutional investors own 67.00% of the company’s stock.
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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. As part of its applications, the Company provides embedded analytics that capture the content and context of everyday business events, facilitating informed decision-making from wherever users are working.
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