Workday, Inc. (WDAY) Receives Average Recommendation of “Hold” from Analysts

Workday, Inc. (NYSE:WDAY) has been given a consensus rating of “Hold” by the forty ratings firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, twenty-two have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $92.47.

Several research firms have issued reports on WDAY. Mitsubishi UFJ Financial Group set a $106.00 price target on shares of Workday and gave the stock a “buy” rating in a research report on Saturday, June 3rd. Wunderlich reaffirmed a “hold” rating and issued a $96.00 price objective (up previously from $86.00) on shares of Workday in a research note on Saturday, June 3rd. Wedbush reissued a “neutral” rating and set a $86.00 target price (up previously from $77.00) on shares of Workday in a research note on Thursday, February 16th. William Blair reissued an “outperform” rating on shares of Workday in a research note on Wednesday, March 1st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $92.00 price objective (up previously from $84.00) on shares of Workday in a research note on Saturday, June 3rd.

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In related news, Director David A. Duffield sold 428,489 shares of the stock in a transaction on Tuesday, April 11th. The shares were sold at an average price of $81.71, for a total transaction of $35,011,836.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael M. Mcnamara sold 13,500 shares of the stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $81.28, for a total transaction of $1,097,280.00. The disclosure for this sale can be found here. Insiders have sold 1,204,369 shares of company stock valued at $109,904,686 in the last 90 days. 41.78% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. AO Asset Management LLC purchased a new stake in shares of Workday during the third quarter worth approximately $4,585,000. Sei Investments Co. boosted its stake in shares of Workday by 37.0% in the third quarter. Sei Investments Co. now owns 637,499 shares of the software maker’s stock worth $58,451,000 after buying an additional 172,025 shares in the last quarter. Engineers Gate Manager LP boosted its stake in shares of Workday by 843.8% in the third quarter. Engineers Gate Manager LP now owns 47,066 shares of the software maker’s stock worth $4,315,000 after buying an additional 42,079 shares in the last quarter. Integrated Wealth Counsel LLC purchased a new stake in shares of Workday during the third quarter worth approximately $138,000. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Workday by 11.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 13,110 shares of the software maker’s stock worth $1,202,000 after buying an additional 1,300 shares in the last quarter.

Shares of Workday (NYSE:WDAY) traded up 0.16% during midday trading on Monday, hitting $98.43. The stock had a trading volume of 658,968 shares. The stock has a 50-day moving average price of $95.95 and a 200-day moving average price of $84.44. Workday has a 12-month low of $65.79 and a 12-month high of $104.53. The stock’s market cap is $20.38 billion.

Workday (NYSE:WDAY) last posted its quarterly earnings data on Thursday, June 1st. The software maker reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.13. Workday had a negative net margin of 22.99% and a negative return on equity of 27.75%. The business had revenue of $479.90 million for the quarter, compared to analyst estimates of $468.07 million. During the same quarter last year, the business earned $0.05 earnings per share. The business’s revenue for the quarter was up 38.0% on a year-over-year basis. Equities analysts forecast that Workday will post $0.65 earnings per share for the current year.

About Workday

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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