BidaskClub Upgrades Workday (WDAY) to Buy

BidaskClub upgraded shares of Workday (NASDAQ:WDAY) from a hold rating to a buy rating in a research report report published on Wednesday morning.

Other analysts also recently issued reports about the company. TheStreet raised Workday from a d+ rating to a c rating in a research note on Wednesday, November 29th. Barclays upped their price objective on Workday from $108.00 to $117.00 and gave the company an equal weight rating in a research note on Friday, November 17th. Drexel Hamilton reaffirmed a buy rating and set a $133.00 price objective on shares of Workday in a research note on Wednesday, November 29th. Bank of America upped their price objective on Workday from $123.00 to $134.00 and gave the company a buy rating in a research note on Monday, November 27th. Finally, Jefferies Group reaffirmed a hold rating and set a $101.00 price objective on shares of Workday in a research note on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and seventeen have assigned a buy rating to the company. Workday has an average rating of Hold and a consensus price target of $106.81.

Shares of Workday (NASDAQ WDAY) opened at $117.77 on Wednesday. The stock has a market capitalization of $24,500.00, a PE ratio of -81.78 and a beta of 2.01. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.11 and a quick ratio of 2.11. Workday has a 1 year low of $80.61 and a 1 year high of $121.98.

Workday (NASDAQ:WDAY) last announced its earnings results on Wednesday, November 29th. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10. The firm had revenue of $555.40 million during the quarter, compared to analysts’ expectations of $541.05 million. Workday had a negative return on equity of 19.73% and a negative net margin of 16.91%. The business’s revenue was up 35.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 EPS. research analysts anticipate that Workday will post -1.1 earnings per share for the current year.

In other Workday news, SVP James P. Shaughnessy sold 6,341 shares of the stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $113.41, for a total transaction of $719,132.81. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Aneel Bhusri sold 75,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $100.34, for a total value of $7,525,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,197,306 shares of company stock worth $126,753,397. 37.71% of the stock is owned by insiders.

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

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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.

Analyst Recommendations for Workday (NASDAQ:WDAY)

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