Workday’s (WDAY) Buy Rating Reiterated at William Blair

Workday (NASDAQ:WDAY)‘s stock had its “buy” rating restated by William Blair in a note issued to investors on Wednesday, AnalystRatings.com reports.

A number of other equities analysts have also recently issued reports on the stock. BMO Capital Markets lifted their target price on shares of Workday from $260.00 to $295.00 and gave the stock a “market perform” rating in a research report on Friday, August 27th. Stifel Nicolaus lifted their target price on shares of Workday from $275.00 to $320.00 and gave the company a “buy” rating in a report on Friday, August 27th. Oppenheimer reaffirmed a “buy” rating and issued a $285.00 price objective (up previously from $265.00) on shares of Workday in a research report on Friday, August 27th. Monness Crespi & Hardt boosted their price target on Workday from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 27th. Finally, Needham & Company LLC initiated coverage on Workday in a report on Friday, August 27th. They set a “buy” rating and a $290.00 target price on the stock. Four research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $303.08.

WDAY opened at $270.07 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.04 and a quick ratio of 1.04. The company’s 50 day simple moving average is $249.65 and its two-hundred day simple moving average is $244.50. Workday has a 1-year low of $201.62 and a 1-year high of $282.77. The firm has a market capitalization of $66.98 billion, a price-to-earnings ratio of -1,500.31 and a beta of 1.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Wednesday, August 25th. The software maker reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.45. Workday had a negative net margin of 0.79% and a positive return on equity of 3.49%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period last year, the business earned $0.84 EPS. The company’s revenue was up 18.7% on a year-over-year basis. On average, equities analysts anticipate that Workday will post 0.09 earnings per share for the current fiscal year.

In other news, insider Richard Harry Sauer sold 2,469 shares of the stock in a transaction on Thursday, July 15th. The shares were sold at an average price of $228.37, for a total value of $563,845.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robynne Sisco sold 5,961 shares of Workday stock in a transaction dated Thursday, July 15th. The shares were sold at an average price of $228.37, for a total transaction of $1,361,313.57. The disclosure for this sale can be found here. Insiders have sold 299,105 shares of company stock worth $80,910,048 over the last 90 days. Corporate insiders own 24.06% of the company’s stock.

Several large investors have recently modified their holdings of WDAY. Bedel Financial Consulting Inc. increased its holdings in Workday by 86.5% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 138 shares of the software maker’s stock valued at $33,000 after purchasing an additional 64 shares in the last quarter. Jacobi Capital Management LLC lifted its position in Workday by 47.5% during the 1st quarter. Jacobi Capital Management LLC now owns 149 shares of the software maker’s stock worth $37,000 after buying an additional 48 shares in the last quarter. Cohen & Steers Inc. bought a new stake in Workday during the 1st quarter worth about $37,000. Lloyd Advisory Services LLC. increased its position in Workday by 43.8% in the 2nd quarter. Lloyd Advisory Services LLC. now owns 161 shares of the software maker’s stock valued at $38,000 after acquiring an additional 49 shares in the last quarter. Finally, Allworth Financial LP bought a new position in shares of Workday in the second quarter worth about $45,000. Institutional investors own 69.20% of the company’s stock.

About Workday

Workday, Inc engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management and analytics applications designed for companies, educational institutions and government agencies. The company was founded by David A.

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