Workday (WDAY) Price Target Raised to $115.00 at Deutsche Bank

Workday (NASDAQ:WDAY) had its target price upped by Deutsche Bank from $105.00 to $115.00 in a research report report published on Tuesday. They currently have a hold rating on the software maker’s stock.

Several other research analysts have also commented on the company. Needham & Company LLC raised Workday from a hold rating to a buy rating and set a $130.00 price target on the stock in a research report on Monday, February 12th. BidaskClub raised Workday from a hold rating to a buy rating in a research report on Wednesday, February 7th. Cleveland Research assumed coverage on Workday in a research report on Wednesday, January 31st. They set a buy rating on the stock. Guggenheim reaffirmed a hold rating and set a $106.00 price target on shares of Workday in a research report on Thursday, January 11th. Finally, Morgan Stanley raised Workday from an equal weight rating to an overweight rating and lifted their price target for the stock from $108.00 to $145.00 in a research report on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eighteen have issued a buy rating to the stock. Workday presently has a consensus rating of Hold and a consensus price target of $107.82.

Shares of Workday (NASDAQ:WDAY) opened at $126.02 on Tuesday. The firm has a market capitalization of $26,460.00, a P/E ratio of -87.51 and a beta of 2.01. Workday has a 52 week low of $80.61 and a 52 week high of $127.55. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.11 and a current ratio of 2.11.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Wednesday, November 29th. The software maker reported $0.24 EPS for the quarter, topping the consensus estimate of $0.14 by $0.10. The company had revenue of $555.40 million for the quarter, compared to analyst estimates of $541.05 million. Workday had a negative return on equity of 19.73% and a negative net margin of 16.91%. The firm’s revenue was up 35.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 earnings per share. analysts forecast that Workday will post -1.1 EPS for the current year.

In other Workday news, SVP James P. Shaughnessy sold 6,409 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $103.47, for a total transaction of $663,139.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Aneel Bhusri sold 75,000 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $100.34, for a total value of $7,525,500.00. The disclosure for this sale can be found here. Insiders have sold 1,199,015 shares of company stock worth $126,965,706 in the last ninety days. 37.71% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. IBM Retirement Fund purchased a new stake in Workday during the third quarter worth $204,000. Beech Hill Advisors Inc. purchased a new stake in Workday during the fourth quarter worth $275,000. Sumitomo Mitsui Asset Management Company LTD boosted its position in Workday by 3.2% during the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 610,443 shares of the software maker’s stock worth $62,106,000 after purchasing an additional 19,122 shares in the last quarter. Xact Kapitalforvaltning AB boosted its position in Workday by 9.5% during the third quarter. Xact Kapitalforvaltning AB now owns 10,933 shares of the software maker’s stock worth $1,152,000 after purchasing an additional 949 shares in the last quarter. Finally, Pictet Asset Management Ltd. boosted its position in Workday by 7.8% during the third quarter. Pictet Asset Management Ltd. now owns 49,700 shares of the software maker’s stock worth $5,238,000 after purchasing an additional 3,600 shares in the last quarter. Institutional investors own 68.19% of the company’s stock.

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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. 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.

Analyst Recommendations for Workday (NASDAQ:WDAY)

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