Workday Inc (NASDAQ:WDAY) Given Consensus Rating of “Hold” by Brokerages

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Workday Inc (NASDAQ:WDAY) has received an average rating of “Hold” from the thirty-five analysts that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a sell rating, ten have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $206.32.

Several equities research analysts have recently weighed in on WDAY shares. Stifel Nicolaus increased their target price on shares of Workday from $175.00 to $195.00 and gave the company a “hold” rating in a research note on Wednesday, May 29th. Needham & Company LLC increased their target price on shares of Cara Therapeutics from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Canaccord Genuity reduced their target price on shares of Trican Well Service from C$1.70 to C$1.55 in a research note on Wednesday, May 29th. Mitsubishi UFJ Financial Group increased their target price on shares of Workday from $215.00 to $244.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th. Finally, KeyCorp reissued a “buy” rating and issued a $235.00 target price on shares of Workday in a research note on Wednesday, May 22nd.

In related news, CEO Aneel Bhusri sold 300,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $193.14, for a total value of $57,942,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP James P. Shaughnessy sold 1,327 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $219.01, for a total transaction of $290,626.27. The disclosure for this sale can be found here. Insiders sold a total of 757,346 shares of company stock worth $154,821,963 in the last ninety days. 29.80% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Jennison Associates LLC grew its holdings in Workday by 6.8% during the 1st quarter. Jennison Associates LLC now owns 8,716,482 shares of the software maker’s stock worth $1,680,974,000 after acquiring an additional 552,280 shares in the last quarter. Norges Bank bought a new position in Workday during the 4th quarter worth about $198,900,000. Blair William & Co. IL grew its holdings in Workday by 5.6% during the 1st quarter. Blair William & Co. IL now owns 1,077,343 shares of the software maker’s stock worth $207,766,000 after acquiring an additional 57,358 shares in the last quarter. Northern Trust Corp grew its holdings in Workday by 3.3% during the 1st quarter. Northern Trust Corp now owns 1,019,275 shares of the software maker’s stock worth $196,566,000 after acquiring an additional 32,907 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in Workday by 1,817.2% during the 4th quarter. 1832 Asset Management L.P. now owns 912,600 shares of the software maker’s stock worth $143,537,000 after acquiring an additional 865,000 shares in the last quarter. Institutional investors own 65.97% of the company’s stock.

WDAY stock traded down $3.64 during trading on Friday, hitting $214.24. 932,139 shares of the company’s stock traded hands, compared to its average volume of 1,476,243. Workday has a 52 week low of $117.72 and a 52 week high of $226.83. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a fifty day simple moving average of $211.46. The firm has a market capitalization of $49.24 billion, a PE ratio of -175.61 and a beta of 1.56.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, May 28th. The software maker reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.03). Workday had a negative net margin of 15.19% and a negative return on equity of 14.92%. The business had revenue of $825.10 million for the quarter, compared to the consensus estimate of $814.21 million. During the same quarter last year, the business earned $0.33 EPS. Workday’s revenue for the quarter was up 33.2% compared to the same quarter last year. As a group, analysts expect that Workday will post -1.06 earnings per share for the current year.

About Workday

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.

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Analyst Recommendations for Workday (NASDAQ:WDAY)

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