Workday (WDAY) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of Workday (NASDAQ:WDAY) from a hold rating to a buy rating in a research note published on Monday.

Several other brokerages have also recently issued reports on WDAY. Bank of America lifted their target price on shares of Workday from $134.00 to $141.00 and gave the stock a buy rating in a report on Monday, February 26th. Credit Suisse Group lifted their target price on shares of Workday from $110.00 to $120.00 and gave the stock a neutral rating in a report on Friday, June 1st. Deutsche Bank lifted their target price on shares of Workday from $105.00 to $115.00 and gave the stock a hold rating in a report on Tuesday, February 20th. Canaccord Genuity reaffirmed a buy rating and issued a $145.00 target price (up from $125.00) on shares of Workday in a report on Wednesday, February 28th. Finally, Citigroup lifted their target price on shares of Workday from $85.00 to $94.00 and gave the stock a sell rating in a report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and nineteen have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $127.87.

NASDAQ:WDAY opened at $125.76 on Monday. Workday has a one year low of $94.40 and a one year high of $140.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market cap of $27.98 billion, a P/E ratio of -99.02 and a beta of 1.81.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, May 31st. The software maker reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. Workday had a negative net margin of 14.53% and a negative return on equity of 14.60%. The business had revenue of $619.00 million for the quarter, compared to analyst estimates of $609.66 million. During the same quarter in the previous year, the firm posted $0.29 earnings per share. Workday’s quarterly revenue was up 29.0% on a year-over-year basis. research analysts anticipate that Workday will post -0.79 EPS for the current fiscal year.

In other Workday news, Director Michael A. Stankey sold 24,987 shares of the company’s stock in a transaction that occurred on Wednesday, March 28th. The shares were sold at an average price of $127.22, for a total transaction of $3,178,846.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Aneel Bhusri sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $128.68, for a total transaction of $9,651,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 986,445 shares of company stock valued at $125,497,139. 33.59% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. IFM Investors Pty Ltd increased its holdings in Workday by 8.6% during the first quarter. IFM Investors Pty Ltd now owns 4,578 shares of the software maker’s stock valued at $582,000 after buying an additional 364 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Workday by 4.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,603 shares of the software maker’s stock valued at $1,094,000 after buying an additional 368 shares during the last quarter. Fiera Capital Corp increased its holdings in Workday by 16.0% during the first quarter. Fiera Capital Corp now owns 3,317 shares of the software maker’s stock valued at $422,000 after buying an additional 458 shares during the last quarter. Global X Management Co. LLC increased its holdings in Workday by 10.3% during the first quarter. Global X Management Co. LLC now owns 5,206 shares of the software maker’s stock valued at $662,000 after buying an additional 485 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in Workday by 0.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 185,577 shares of the software maker’s stock valued at $23,589,000 after buying an additional 637 shares during the last quarter. 68.59% of the stock is owned by institutional investors and hedge funds.

About Workday

Workday, Inc provides enterprise cloud applications for finance and human resources worldwide. It provides applications for customers to manage critical business functions to 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, employee expense and revenue management, projects, procurement, inventory, and grants management.

Analyst Recommendations for Workday (NASDAQ:WDAY)

Receive News & Ratings for Workday Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Workday and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply