Workday, Inc. (WDAY) Price Target Raised to $110.00 at BMO Capital Markets

Workday, Inc. (NYSE:WDAY) had its target price raised by equities researchers at BMO Capital Markets from $105.00 to $110.00 in a report released on Thursday. The brokerage currently has a “market perform” rating on the software maker’s stock. BMO Capital Markets’ price target suggests a potential upside of 6.90% from the stock’s current price.

Several other analysts also recently weighed in on WDAY. Vetr downgraded 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 initiated coverage on Workday in a report on Thursday, April 27th. They issued a “neutral” rating and a $91.00 price target for the company. Benchmark Co. initiated coverage on Workday in a report on Thursday, April 27th. They issued a “hold” rating for the company. Royal Bank Of Canada cut their price target on Workday from $105.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, May 24th. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $105.00 price target (up previously from $95.00) on shares of Workday in a report on Monday, May 29th. Four investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $92.77.

Shares of Workday (WDAY) traded down 3.11% during midday trading on Thursday, hitting $102.90. The company had a trading volume of 949,729 shares. The company’s 50 day moving average is $101.02 and its 200 day moving average is $92.45. Workday has a one year low of $65.79 and a one year high of $106.75. The firm’s market cap is $21.30 billion.

Workday (NYSE:WDAY) last announced its earnings results on Thursday, June 1st. The software maker reported $0.29 earnings per share for the quarter, beating the 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 firm had revenue of $479.90 million during the quarter, compared to the consensus estimate of $468.07 million. During the same quarter in the prior year, the company earned $0.05 EPS. The firm’s revenue for the quarter was up 38.0% compared to the same quarter last year. Equities analysts forecast that Workday will post $0.65 earnings per share for the current fiscal year.

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In other news, CEO Aneel Bhusri sold 75,000 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $102.87, for a total value of $7,715,250.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP James P. Shaughnessy sold 8,760 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $103.62, for a total value of $907,711.20. The disclosure for this sale can be found here. Insiders sold a total of 1,252,638 shares of company stock worth $124,884,087 over the last 90 days. 37.71% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mn Services Vermogensbeheer B.V. raised its position in Workday by 7.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,254 shares of the software maker’s stock valued at $253,000 after buying an additional 230 shares in the last quarter. Candriam Luxembourg S.C.A. bought a new position in Workday during the first quarter valued at about $640,000. State of Alaska Department of Revenue bought a new position in Workday during the first quarter valued at about $124,000. Gemmer Asset Management LLC raised its position in Workday by 9.6% in the first quarter. Gemmer Asset Management LLC now owns 8,764 shares of the software maker’s stock valued at $730,000 after buying an additional 764 shares in the last quarter. Finally, Gateway Investment Advisers LLC raised its position in Workday by 1.3% in the first quarter. Gateway Investment Advisers LLC now owns 80,094 shares of the software maker’s stock valued at $6,670,000 after buying an additional 1,012 shares in the last quarter.

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.

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