Workday (WDAY) Reaches New 12-Month High on Analyst Upgrade

Shares of Workday Inc (NASDAQ:WDAY) hit a new 52-week high on Monday after KeyCorp raised their price target on the stock from $179.00 to $216.00. KeyCorp currently has an overweight rating on the stock. Workday traded as high as $192.90 and last traded at $191.05, with a volume of 41864 shares trading hands. The stock had previously closed at $189.41.

A number of other brokerages also recently issued reports on WDAY. Atlantic Securities began coverage on Workday in a research note on Wednesday, January 9th. They issued an “overweight” rating and a $206.00 price objective on the stock. Royal Bank of Canada increased their target price on shares of Workday to $170.00 and gave the company an “outperform” rating in a research report on Friday, November 30th. Stifel Nicolaus increased their target price on shares of Workday to $160.00 and gave the company a “hold” rating in a research report on Friday, November 30th. Morgan Stanley increased their target price on shares of Workday from $154.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, December 3rd. Finally, Cantor Fitzgerald set a $185.00 target price on shares of Workday and gave the company a “buy” rating in a research report on Sunday, December 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $158.74.

In other news, insider Robynne Sisco sold 6,048 shares of the stock in a transaction on Tuesday, January 15th. The shares were sold at an average price of $164.75, for a total value of $996,408.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Aneel Bhusri sold 6,370 shares of the stock in a transaction on Tuesday, January 15th. The stock was sold at an average price of $164.90, for a total transaction of $1,050,413.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 999,158 shares of company stock valued at $163,638,983. Corporate insiders own 33.59% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new stake in Workday during the fourth quarter valued at $26,000. North Star Investment Management Corp. grew its position in Workday by 100.0% during the fourth quarter. North Star Investment Management Corp. now owns 200 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares during the period. First Personal Financial Services grew its position in Workday by 61.3% during the fourth quarter. First Personal Financial Services now owns 263 shares of the software maker’s stock valued at $42,000 after buying an additional 100 shares during the period. Pearl River Capital LLC acquired a new stake in Workday during the fourth quarter valued at $45,000. Finally, Proficio Capital Partners LLC grew its position in Workday by 22.6% during the fourth quarter. Proficio Capital Partners LLC now owns 369 shares of the software maker’s stock valued at $59,000 after buying an additional 68 shares during the period. Hedge funds and other institutional investors own 67.93% of the company’s stock.

The stock has a market cap of $41.67 billion, a P/E ratio of -150.00 and a beta of 1.89. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.10 and a current ratio of 1.10.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, November 29th. The software maker reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.45) by $0.76. The company had revenue of $743.20 million for the quarter, compared to analyst estimates of $723.38 million. Workday had a negative net margin of 15.40% and a negative return on equity of 15.98%. The firm’s revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the business earned $0.24 earnings per share. On average, research analysts forecast that Workday Inc will post -1.05 earnings per share for the current fiscal year.

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Workday Company Profile (NASDAQ:WDAY)

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.

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