Cantor Fitzgerald Analysts Give Workday (WDAY) a $185.00 Price Target

Workday (NASDAQ:WDAY) has been given a $185.00 target price by equities researchers at Cantor Fitzgerald in a research report issued on Sunday. The brokerage currently has a “buy” rating on the software maker’s stock. Cantor Fitzgerald’s price target points to a potential upside of 12.80% from the company’s previous close.

WDAY has been the topic of several other research reports. JMP Securities decreased their target price on Workday from $175.00 to $152.95 and set an “outperform” rating on the stock in a research report on Wednesday, September 5th. They noted that the move was a valuation call. Deutsche Bank increased their price target on Workday from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Wednesday, September 5th. Jefferies Financial Group increased their price target on Workday to $141.00 and gave the stock a “hold” rating in a research report on Wednesday, September 5th. Piper Jaffray Companies reissued an “overweight” rating and set a $160.00 price target (up previously from $150.00) on shares of Workday in a research report on Wednesday, August 15th. Finally, Guggenheim initiated coverage on Workday in a research report on Monday, August 20th. They set a “buy” rating and a $175.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $155.08.

Workday stock opened at $164.00 on Friday. Workday has a 12 month low of $95.35 and a 12 month high of $166.36. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.89 and a current ratio of 1.89. The company has a market capitalization of $35.59 billion, a PE ratio of -129.13 and a beta of 2.04.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, November 29th. The software maker reported $0.31 EPS for the quarter, beating the consensus estimate of ($0.45) by $0.76. Workday had a negative return on equity of 16.36% and a negative net margin of 15.40%. The company had revenue of $743.20 million for the quarter, compared to the consensus estimate of $723.38 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. The firm’s revenue for the quarter was up 33.8% on a year-over-year basis. On average, analysts anticipate that Workday will post -1.11 EPS for the current year.

In related news, SVP James P. Shaughnessy sold 4,800 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $144.08, for a total value of $691,584.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Aneel Bhusri sold 75,000 shares of Workday stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $144.66, for a total transaction of $10,849,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 503,782 shares of company stock valued at $68,244,014. Company insiders own 33.59% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. Motley Fool Asset Management LLC lifted its position in shares of Workday by 18.7% during the 2nd quarter. Motley Fool Asset Management LLC now owns 2,328 shares of the software maker’s stock worth $282,000 after buying an additional 366 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its position in shares of Workday by 4.4% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 8,782 shares of the software maker’s stock worth $1,282,000 after buying an additional 368 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Workday by 2.7% during the 3rd quarter. CIBC Asset Management Inc now owns 14,829 shares of the software maker’s stock worth $2,165,000 after buying an additional 387 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Workday by 0.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 72,114 shares of the software maker’s stock worth $8,736,000 after buying an additional 426 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its position in shares of Workday by 10.6% during the 3rd quarter. Baird Financial Group Inc. now owns 4,669 shares of the software maker’s stock worth $681,000 after buying an additional 448 shares in the last quarter. 66.71% of the stock is currently owned by hedge funds and other institutional investors.

About Workday

Workday, Inc provides enterprise cloud applications for finance and human resources worldwide. It provides applications for customers to manage critical business functions to optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, employee expense and revenue management, projects, procurement, inventory, and grants management.

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Analyst Recommendations for Workday (NASDAQ:WDAY)

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