Workday, Inc. (NYSE:WDAY) Rating Increased to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Workday, Inc. (NYSE:WDAY) from a buy rating to a strong-buy rating in a research note published on Tuesday morning.

A number of other equities analysts also recently weighed in on WDAY. William Blair boosted their target price on shares of Workday to $40.00 and gave the stock an outperform rating in a research note on Friday, April 14th. Vetr downgraded shares of Workday from a buy rating to a hold rating and set a $88.50 target price for the company. in a research note on Thursday, April 20th. Credit Suisse Group started coverage on shares of Workday in a research note on Thursday, April 27th. They issued a neutral rating and a $91.00 target price for the company. Benchmark Co. started coverage on shares of Workday in a research note on Thursday, April 27th. They issued a hold rating for the company. Finally, Royal Bank Of Canada dropped their target price on shares of Workday from $105.00 to $96.00 and set an outperform rating for the company in a research note on Wednesday, May 24th. Four research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Hold and an average target price of $92.37.

Workday (NYSE WDAY) opened at 99.38 on Tuesday. The firm’s market cap is $20.57 billion. Workday has a 1-year low of $65.79 and a 1-year high of $106.75. The company’s 50 day moving average is $100.83 and its 200-day moving average is $91.97.

Workday (NYSE:WDAY) last announced its earnings results on Thursday, June 1st. The software maker reported $0.29 earnings per share for the quarter, topping 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 company had revenue of $479.90 million during the quarter, compared to the consensus estimate of $468.07 million. During the same period in the previous year, the firm posted $0.05 earnings per share. The company’s revenue was up 38.0% on a year-over-year basis. On average, analysts predict that Workday will post $0.65 EPS for the current fiscal year.

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In related news, SVP James P. Shaughnessy sold 8,760 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $103.62, for a total transaction of $907,711.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael A. Stankey sold 25,000 shares of the stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $103.05, for a total transaction of $2,576,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,284,581 shares of company stock worth $127,908,387. 37.71% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. Winfield Associates Inc. increased its stake in shares of Workday by 136.4% in the second quarter. Winfield Associates Inc. now owns 1,040 shares of the software maker’s stock worth $101,000 after buying an additional 600 shares during the last quarter. First Personal Financial Services increased its stake in shares of Workday by 21.2% in the second quarter. First Personal Financial Services now owns 1,057 shares of the software maker’s stock worth $103,000 after buying an additional 185 shares during the last quarter. Global X Management Co. LLC increased its stake in shares of Workday by 9.3% in the second quarter. Global X Management Co. LLC now owns 1,136 shares of the software maker’s stock worth $110,000 after buying an additional 97 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of Workday by 29.5% in the first quarter. Toronto Dominion Bank now owns 1,335 shares of the software maker’s stock worth $111,000 after buying an additional 304 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Workday by 17.6% in the second quarter. IFP Advisors Inc now owns 1,176 shares of the software maker’s stock worth $114,000 after buying an additional 176 shares during the last quarter.

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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