Piper Jaffray Companies Reiterates Buy Rating for Workday Inc (WDAY)
Workday Inc (NYSE:WDAY)‘s stock had its “buy” rating reiterated by research analysts at Piper Jaffray Companies in a note issued to investors on Tuesday. They currently have a $125.00 price target on the software maker’s stock. Piper Jaffray Companies’ target price would suggest a potential upside of 16.54% from the company’s current price.
Other equities analysts have also issued reports about the company. Cowen and Company reaffirmed a “market perform” rating and set a $100.00 target price (up from $93.00) on shares of Workday in a report on Thursday, August 31st. Mitsubishi UFJ Financial Group reaffirmed a “buy” rating and set a $116.00 target price (up from $106.00) on shares of Workday in a report on Thursday, August 31st. Wedbush reaffirmed a “neutral” rating and set a $104.00 target price on shares of Workday in a report on Thursday, August 31st. Jefferies Group LLC reaffirmed a “hold” rating and set a $92.00 target price on shares of Workday in a report on Tuesday, August 29th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $114.00 target price (up from $101.00) on shares of Workday in a report on Thursday, August 31st. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $100.00.
Workday (NYSE:WDAY) opened at 107.23 on Tuesday. The stock’s market cap is $22.30 billion. The company’s 50-day moving average price is $106.14 and its 200-day moving average price is $98.72. Workday has a 1-year low of $65.79 and a 1-year high of $111.45.
Workday (NYSE:WDAY) last announced its quarterly earnings data on Wednesday, August 30th. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.09. Workday had a negative return on equity of 24.60% and a negative net margin of 15.71%. The firm had revenue of $525.30 million for the quarter, compared to analysts’ expectations of $507.44 million. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. Workday’s revenue for the quarter was up 40.6% compared to the same quarter last year. Analysts predict that Workday will post $0.83 EPS for the current year.
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In other news, Director David A. Duffield sold 175,974 shares of the company’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $108.51, for a total value of $19,094,938.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robynne Sisco sold 1,470 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $101.70, for a total transaction of $149,499.00. The disclosure for this sale can be found here. Insiders sold 1,534,176 shares of company stock valued at $166,185,680 in the last 90 days. Corporate insiders own 37.71% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of WDAY. Winfield Associates Inc. increased its stake in shares of Workday by 136.4% in the second quarter. Winfield Associates Inc. now owns 1,040 shares of the software maker’s stock worth $101,000 after acquiring an additional 600 shares during the last quarter. First Personal Financial Services increased its stake in shares of Workday by 21.2% in the second quarter. First Personal Financial Services now owns 1,057 shares of the software maker’s stock worth $103,000 after acquiring an additional 185 shares during the last quarter. Global X Management Co. LLC increased its stake in shares of Workday by 9.3% in the second quarter. Global X Management Co. LLC now owns 1,136 shares of the software maker’s stock worth $110,000 after acquiring an additional 97 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Workday by 17.6% in the second quarter. IFP Advisors Inc now owns 1,176 shares of the software maker’s stock worth $114,000 after acquiring an additional 176 shares during the last quarter. Finally, Advisor Group Inc. increased its stake in shares of Workday by 22.5% in the second quarter. Advisor Group Inc. now owns 1,283 shares of the software maker’s stock worth $123,000 after acquiring an additional 236 shares during the last quarter. 67.08% of the stock is currently owned by institutional investors and hedge funds.
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. As part of its applications, the Company provides embedded analytics that capture the content and context of everyday business events, facilitating informed decision-making from wherever users are working.
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