Workday (WDAY) Stock Rating Upgraded by Morgan Stanley

Morgan Stanley upgraded shares of Workday (NASDAQ:WDAY) from an equal weight rating to an overweight rating in a research report report published on Wednesday morning, MarketBeat reports. They currently have $145.00 price objective on the software maker’s stock, up from their prior price objective of $108.00.

Several other research analysts have also recently weighed in on the company. Guggenheim initiated coverage on Workday in a research note on Monday, October 30th. They issued a neutral rating and a $105.00 price target for the company. UBS Group restated a sell rating and issued a $95.00 price target (down previously from $121.00) on shares of Workday in a research note on Thursday, November 9th. Robert W. Baird restated a buy rating and issued a $114.00 price target on shares of Workday in a research note on Friday, November 10th. Barclays boosted their price target on Workday from $108.00 to $117.00 and gave the stock an equal weight rating in a research note on Friday, November 17th. Finally, JMP Securities cut Workday from a market outperform rating to a market perform rating in a research note on Tuesday, October 10th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and sixteen have given a buy rating to the company’s stock. Workday currently has a consensus rating of Hold and an average target price of $106.81.

Workday (NASDAQ WDAY) traded down $1.34 during trading on Wednesday, reaching $112.90. The company’s stock had a trading volume of 1,183,450 shares, compared to its average volume of 1,628,917. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.74. Workday has a twelve month low of $79.11 and a twelve month high of $116.89. The company has a market capitalization of $23,709.00, a P/E ratio of -68.84 and a beta of 1.83.

Workday (NASDAQ:WDAY) last released its earnings results on Wednesday, November 29th. The software maker reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.10. Workday had a negative return on equity of 19.73% and a negative net margin of 16.91%. The business had revenue of $555.40 million for the quarter, compared to the consensus estimate of $541.05 million. During the same period in the previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 35.6% compared to the same quarter last year. equities analysts expect that Workday will post -1.1 EPS for the current fiscal year.

In other Workday news, SVP James P. Shaughnessy sold 6,341 shares of the company’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $113.41, for a total value of $719,132.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David A. Duffield sold 482,001 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $103.77, for a total value of $50,017,243.77. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,196,179 shares of company stock valued at $126,474,760. 37.71% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Advisor Group Inc. increased its position in Workday by 22.5% in the second quarter. Advisor Group Inc. now owns 1,283 shares of the software maker’s stock worth $123,000 after buying an additional 236 shares in the last quarter. FNY Managed Accounts LLC increased its position in Workday by 607.7% in the third quarter. FNY Managed Accounts LLC now owns 1,380 shares of the software maker’s stock worth $145,000 after buying an additional 1,185 shares in the last quarter. Toronto Dominion Bank increased its position in Workday by 15.1% in the second quarter. Toronto Dominion Bank now owns 1,536 shares of the software maker’s stock worth $149,000 after buying an additional 201 shares in the last quarter. IBM Retirement Fund purchased a new stake in Workday in the third quarter worth about $204,000. Finally, BlueSky Wealth Advisors LLC purchased a new stake in Workday in the third quarter worth about $206,000. Institutional investors and hedge funds own 66.90% of the company’s stock.

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Workday Company Profile

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.

Analyst Recommendations for Workday (NASDAQ:WDAY)

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