Workday Inc (NASDAQ:WDAY) Given Consensus Rating of “Buy” by Analysts

Workday Inc (NASDAQ:WDAY) has received an average rating of “Buy” from the thirty-five brokerages that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $206.32.

Several research analysts have commented on the stock. Monness Crespi & Hardt reissued a “buy” rating and issued a $262.00 price target (up from $250.00) on shares of Workday in a report on Wednesday, May 29th. Bank of America raised their price target on shares of Workday from $234.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Stifel Nicolaus raised their price target on shares of Workday from $175.00 to $195.00 and gave the company a “hold” rating in a report on Wednesday, May 29th. Deutsche Bank raised their price objective on shares of Workday from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Wednesday, May 29th. Finally, BMO Capital Markets restated a “market perform” rating and set a $230.00 price objective (up previously from $220.00) on shares of Workday in a research report on Wednesday, May 29th. They noted that the move was a valuation call.

NASDAQ:WDAY traded down $4.06 during trading hours on Tuesday, hitting $205.02. The stock had a trading volume of 1,193,685 shares, compared to its average volume of 1,947,034. The business’s 50 day moving average price is $207.10. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.09 and a quick ratio of 1.09. Workday has a one year low of $117.24 and a one year high of $221.00. The stock has a market cap of $46.97 billion, a price-to-earnings ratio of -168.05 and a beta of 1.67.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, May 28th. The software maker reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.03). Workday had a negative net margin of 15.19% and a negative return on equity of 14.92%. The firm had revenue of $825.10 million during the quarter, compared to the consensus estimate of $814.21 million. During the same period in the previous year, the business earned $0.33 earnings per share. The firm’s revenue for the quarter was up 33.2% on a year-over-year basis. Research analysts predict that Workday will post -1.04 EPS for the current year.

In other Workday news, SVP James P. Shaughnessy sold 1,500 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $213.68, for a total value of $320,520.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO James Bozzini sold 11,407 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $192.95, for a total transaction of $2,200,980.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 812,640 shares of company stock worth $159,908,456. 29.80% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the business. American International Group Inc. increased its position in shares of Workday by 0.4% in the first quarter. American International Group Inc. now owns 13,836 shares of the software maker’s stock valued at $2,668,000 after acquiring an additional 54 shares during the period. Shine Investment Advisory Services Inc. boosted its stake in shares of Workday by 60.9% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 148 shares of the software maker’s stock valued at $29,000 after purchasing an additional 56 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Workday by 60.0% during the 4th quarter. Captrust Financial Advisors now owns 160 shares of the software maker’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. CWM LLC boosted its stake in shares of Workday by 4.1% during the 1st quarter. CWM LLC now owns 1,571 shares of the software maker’s stock valued at $303,000 after purchasing an additional 62 shares in the last quarter. Finally, Gemmer Asset Management LLC boosted its stake in shares of Workday by 0.7% during the 1st quarter. Gemmer Asset Management LLC now owns 9,251 shares of the software maker’s stock valued at $1,784,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 65.97% of the company’s stock.

About Workday

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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