Workday, Inc. (NYSE:WDAY) had its price target boosted by analysts at J P Morgan Chase & Co to $115.00 in a research note issued to investors on Thursday. The brokerage currently has an “overweight” rating on the software maker’s stock. J P Morgan Chase & Co’s price objective would indicate a potential upside of 10.81% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on WDAY. UBS AG reiterated a “buy” rating and issued a $115.00 target price (up from $103.00) on shares of Workday in a report on Friday, June 2nd. Mitsubishi UFJ Financial Group set a $106.00 price objective on Workday and gave the stock a “buy” rating in a research note on Saturday, June 3rd. Canaccord Genuity restated a “buy” rating and set a $115.00 price objective on shares of Workday in a research note on Friday, July 7th. BidaskClub cut Workday from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Finally, Wunderlich restated a “hold” rating and set a $96.00 price objective (up from $86.00) on shares of Workday in a research note on Saturday, June 3rd. Four investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $92.44.
Workday (NYSE:WDAY) opened at 103.78 on Thursday. The firm has a 50-day moving average price of $99.03 and a 200-day moving average price of $86.15. The company’s market cap is $21.48 billion. Workday has a 12-month low of $65.79 and a 12-month high of $104.80.
Workday (NYSE:WDAY) last issued its earnings results on Thursday, June 1st. The software maker reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.13. Workday had a negative return on equity of 27.75% and a negative net margin of 22.99%. The business had revenue of $479.90 million during the quarter, compared to analysts’ expectations of $468.07 million. During the same period in the prior year, the business earned $0.05 EPS. The business’s revenue for the quarter was up 38.0% compared to the same quarter last year. On average, equities research analysts forecast that Workday will post $0.65 earnings per share for the current fiscal year.
In other Workday news, Director David A. Duffield sold 268,454 shares of the stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $97.20, for a total transaction of $26,093,728.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark S. Peek sold 32,443 shares of the stock in a transaction that occurred on Tuesday, April 18th. The stock was sold at an average price of $83.36, for a total value of $2,704,448.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,276,634 shares of company stock worth $126,456,079. 37.71% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Workday by 6.4% in the first quarter. Vanguard Group Inc. now owns 9,936,052 shares of the software maker’s stock worth $827,474,000 after buying an additional 593,839 shares in the last quarter. State Street Corp increased its position in shares of Workday by 10.6% in the first quarter. State Street Corp now owns 2,288,030 shares of the software maker’s stock worth $190,552,000 after buying an additional 219,326 shares in the last quarter. Blair William & Co. IL increased its position in shares of Workday by 3.6% in the first quarter. Blair William & Co. IL now owns 915,982 shares of the software maker’s stock worth $76,075,000 after buying an additional 32,201 shares in the last quarter. Champlain Investment Partners LLC increased its position in shares of Workday by 16.5% in the first quarter. Champlain Investment Partners LLC now owns 804,615 shares of the software maker’s stock worth $67,008,000 after buying an additional 114,030 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Workday during the fourth quarter worth about $48,885,000.
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. 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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