Barclays PLC Increases Workday, Inc. (WDAY) Price Target to $117.00
Workday, Inc. (NASDAQ:WDAY) had its price target hoisted by stock analysts at Barclays PLC from $108.00 to $117.00 in a research note issued on Friday. The brokerage currently has an “equal weight” rating on the software maker’s stock. Barclays PLC’s price objective suggests a potential upside of 7.01% from the company’s previous close.
Several other equities analysts have also recently weighed in on WDAY. Credit Suisse Group reaffirmed a “neutral” rating and set a $94.00 target price on shares of Workday in a research note on Sunday, August 27th. Deutsche Bank AG reaffirmed a “hold” rating and set a $105.00 target price (up from $95.00) on shares of Workday in a research note on Thursday, August 31st. BMO Capital Markets raised their target price on shares of Workday from $105.00 to $110.00 and gave the company a “market perform” rating in a research note on Thursday, August 17th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $117.00 target price on shares of Workday in a research note on Monday, September 18th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Workday in a research note on Thursday, August 31st. Five research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $99.79.
Shares of Workday (NASDAQ:WDAY) traded up $2.73 during mid-day trading on Friday, hitting $109.34. 1,009,800 shares of the stock traded hands, compared to its average volume of 1,566,413. Workday has a 12-month low of $65.79 and a 12-month high of $111.94. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.54 and a current ratio of 1.54.
Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Wednesday, August 30th. The software maker reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.09. The firm had revenue of $525.30 million for the quarter, compared to the consensus estimate of $507.44 million. Workday had a negative net margin of 19.78% and a negative return on equity of 24.07%. The company’s revenue was up 40.6% on a year-over-year basis. During the same period last year, the firm earned ($0.04) EPS. equities analysts forecast that Workday will post -1.33 EPS for the current fiscal year.
In other news, CEO Aneel Bhusri sold 75,000 shares of Workday stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $108.98, for a total value of $8,173,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Robynne Sisco sold 2,317 shares of Workday stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $109.32, for a total transaction of $253,294.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,542,724 shares of company stock worth $167,301,313. Insiders own 37.71% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. IFM Investors Pty Ltd purchased a new stake in Workday during the 3rd quarter worth approximately $363,000. California Public Employees Retirement System grew its position in Workday by 1.7% during the 3rd quarter. California Public Employees Retirement System now owns 221,300 shares of the software maker’s stock worth $23,323,000 after purchasing an additional 3,800 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Workday by 418.4% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 122,840 shares of the software maker’s stock worth $12,946,000 after purchasing an additional 99,144 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Workday during the 3rd quarter worth approximately $2,276,000. Finally, Janus Henderson Group PLC grew its position in Workday by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 1,042,200 shares of the software maker’s stock worth $109,838,000 after purchasing an additional 4,047 shares during the last quarter. 67.11% of the stock is currently owned by institutional investors.
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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