Workday Inc. (WDAY) Price Target Raised to $110.00
Workday Inc. (NYSE:WDAY) had its price target lifted by investment analysts at Canaccord Genuity from $98.00 to $110.00 in a research report issued on Monday. The firm presently has a “buy” rating on the stock. Canaccord Genuity’s price objective indicates a potential upside of 19.97% from the company’s previous close.
A number of other brokerages have also weighed in on WDAY. Goldman Sachs Group Inc. boosted their price objective on shares of Workday from $78.00 to $87.00 and gave the company a “neutral” rating in a report on Thursday, August 25th. Needham & Company LLC reissued a “hold” rating on shares of Workday in a report on Tuesday, August 30th. Wunderlich dropped their price objective on shares of Workday from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, August 25th. Cowen and Company reissued a “market perform” rating and set a $83.00 price objective (up from $75.00) on shares of Workday in a report on Friday, August 26th. Finally, Stephens dropped their price objective on shares of Workday from $100.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, August 25th. Two investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $85.91.
Shares of Workday (NYSE:WDAY) traded down 1.04% during midday trading on Monday, reaching $90.74. The company’s stock had a trading volume of 268,544 shares. Workday has a 12-month low of $47.32 and a 12-month high of $92.46. The firm’s market capitalization is $18.15 billion. The stock has a 50-day moving average of $86.38 and a 200 day moving average of $79.17.
Workday (NYSE:WDAY) last released its quarterly earnings results on Wednesday, August 24th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.02. Workday had a negative return on equity of 26.89% and a negative net margin of 25.71%. The firm earned $377.70 million during the quarter, compared to analysts’ expectations of $372.68 million. During the same period in the prior year, the firm posted $0.02 earnings per share. Workday’s revenue for the quarter was up 33.6% compared to the same quarter last year. Equities research analysts predict that Workday will post ($0.03) EPS for the current fiscal year.
In related news, CFO Robynne Sisco sold 897 shares of the stock in a transaction on Friday, July 15th. The shares were sold at an average price of $79.01, for a total value of $70,871.97. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman David A. Duffield sold 400,000 shares of the stock in a transaction on Monday, August 29th. The shares were sold at an average price of $83.32, for a total transaction of $33,328,000.00. The disclosure for this sale can be found here. 41.78% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mizuho Asset Management Co. Ltd. increased its position in Workday by 132.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,541 shares of the company’s stock worth $115,000 after buying an additional 877 shares during the period. Mutual of America Capital Management LLC increased its position in Workday by 930.0% in the second quarter. Mutual of America Capital Management LLC now owns 1,751 shares of the company’s stock worth $131,000 after buying an additional 1,581 shares during the period. Societe Generale bought a new position in Workday during the second quarter worth approximately $159,000. Mn Services Vermogensbeheer B.V. increased its position in Workday by 2.8% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 2,829 shares of the company’s stock worth $190,000 after buying an additional 78 shares during the period. Finally, World Asset Management Inc bought a new position in Workday during the second quarter worth approximately $213,000.
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. It operates in the cloud applications segment.
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