Needham & Company LLC restated their buy rating on shares of Workday (NASDAQ:WDAY – Get Rating) in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a $220.00 price objective on the software maker's stock.
Several other research firms have also recently issued reports on WDAY. Guggenheim cut Workday from a neutral rating to a sell rating and set a $142.00 price objective for the company. in a research report on Tuesday, January 17th. Cowen upped their target price on Workday from $220.00 to $225.00 in a research report on Friday, December 9th. Morgan Stanley decreased their target price on Workday from $282.00 to $220.00 and set an overweight rating for the company in a research report on Tuesday, November 22nd. Loop Capital cut Workday from a buy rating to a hold rating and decreased their target price for the company from $225.00 to $150.00 in a research report on Monday, November 21st. Finally, DA Davidson decreased their target price on Workday from $220.00 to $205.00 in a research report on Tuesday, November 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $214.47.
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Workday Stock Up 2.1 %
NASDAQ:WDAY opened at $185.33 on Wednesday. The stock has a 50-day simple moving average of $166.93 and a 200-day simple moving average of $159.29. Workday has a 1 year low of $128.72 and a 1 year high of $252.89. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.55.
Workday (NASDAQ:WDAY – Get Rating) last released its quarterly earnings data on Tuesday, November 29th. The software maker reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.18. The business had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.59 billion. Workday had a negative return on equity of 2.11% and a negative net
margin of 5.29%. The business's quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 EPS. On average, equities analysts forecast that Workday will post -0.44 earnings per share for the current year.
Workday announced that its Board of Directors has initiated a share buyback program on Tuesday, November 29th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the software maker to purchase up to 1.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.
Insider Transactions at Workday
In other news, Director George J. Still, Jr. sold 5,000 shares of Workday stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $169.38, for a total transaction of $846,900.00. Following the sale, the director now directly owns 10,000 shares of the company's stock, valued at $1,693,800. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director George J. Still, Jr. sold 5,000 shares of the business's stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $169.38, for a total value of $846,900.00. Following the completion of the sale, the director now directly owns 10,000 shares of the company's stock, valued at $1,693,800. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO James Bozzini sold 4,389 shares of the business's stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $161.72, for a total value of $709,789.08. Following the completion of the sale, the chief operating officer now directly owns 103,228 shares of the company's stock, valued at $16,694,032.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 119,548 shares of company stock valued at $20,795,439. 21.74% of the stock is currently owned by insiders.
Institutional Trading of Workday
Several hedge funds and other institutional investors have recently bought and sold shares of the company. First Republic Investment Management Inc. boosted its stake in Workday by 3.5% in the third quarter. First Republic Investment Management Inc. now owns 33,071 shares of the software maker's stock valued at $5,034,000 after acquiring an additional 1,125 shares during the period. EFG Asset Management North America Corp. boosted its stake in Workday by 1.1% in the third quarter. EFG Asset Management North America Corp. now owns 22,743 shares of the software maker's stock valued at $3,463,000 after acquiring an additional 243 shares during the period. US Bancorp DE boosted its stake in Workday by 3.2% in the second quarter. US Bancorp DE now owns 18,599 shares of the software maker's stock valued at $2,596,000 after acquiring an additional 572 shares during the period. Synovus Financial Corp boosted its stake in Workday by 18.6% in the second quarter. Synovus Financial Corp now owns 17,879 shares of the software maker's stock valued at $2,497,000 after acquiring an additional 2,800 shares during the period. Finally, Baker Tilly Wealth Management LLC boosted its stake in Workday by 11.5% in the second quarter. Baker Tilly Wealth Management LLC now owns 4,707 shares of the software maker's stock valued at $657,000 after acquiring an additional 487 shares during the period. 66.98% of the stock is owned by institutional investors.
About Workday
(Get Rating)
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.
Further Reading
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