Royal Bank of Canada Reiterates “Outperform” Rating for Workday (NASDAQ:WDAY)

Workday (NASDAQ:WDAY)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a report released on Wednesday, The Fly reports. They presently have a $196.00 price target on the software maker’s stock. Royal Bank of Canada’s target price indicates a potential upside of 19.16% from the stock’s current price.

Several other brokerages have also recently issued reports on WDAY. Northland Securities began coverage on shares of Workday in a report on Wednesday. They issued a “hold” rating and a $200.00 target price for the company. JPMorgan Chase & Co. dropped their target price on shares of Workday from $200.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday. Evercore ISI upgraded shares of Workday from an “in-line” rating to an “outperform” rating in a research note on Tuesday, October 22nd. Robert W. Baird reduced their price target on shares of Workday from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, JMP Securities set a $225.00 price objective on shares of Workday and gave the company a “buy” rating in a research note on Friday, August 30th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-one have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $208.06.

WDAY stock opened at $164.49 on Wednesday. The business has a 50 day moving average price of $165.66 and a 200 day moving average price of $188.37. The stock has a market cap of $40.84 billion, a price-to-earnings ratio of -134.83 and a beta of 1.54. Workday has a fifty-two week low of $141.70 and a fifty-two week high of $226.83. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, December 3rd. The software maker reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.16. Workday had a negative net margin of 15.25% and a negative return on equity of 15.05%. The company had revenue of $938.10 million for the quarter, compared to analyst estimates of $920.65 million. During the same period in the prior year, the firm posted $0.31 earnings per share. The firm’s revenue was up 26.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Workday will post -1.17 EPS for the current year.

In other news, insider Gomez Luciano Fernandez sold 7,344 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $173.29, for a total transaction of $1,272,641.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Duffield sold 300,785 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.27, for a total value of $50,011,521.95. The disclosure for this sale can be found here. Insiders have sold a total of 509,292 shares of company stock valued at $86,126,565 over the last ninety days. 29.80% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in WDAY. Banco de Sabadell S.A acquired a new stake in Workday in the second quarter valued at about $31,000. San Francisco Sentry Investment Group CA grew its stake in shares of Workday by 445.7% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 191 shares of the software maker’s stock worth $33,000 after purchasing an additional 156 shares during the period. North Star Investment Management Corp. acquired a new stake in shares of Workday in the third quarter valued at about $34,000. Shine Investment Advisory Services Inc. boosted its holdings in Workday by 121.7% during the third quarter. Shine Investment Advisory Services Inc. now owns 204 shares of the software maker’s stock worth $35,000 after buying an additional 112 shares in the last quarter. Finally, Synovus Financial Corp grew its position in Workday by 88.5% during the third quarter. Synovus Financial Corp now owns 213 shares of the software maker’s stock worth $36,000 after buying an additional 100 shares during the period. Institutional investors own 67.09% of the company’s stock.

Workday Company Profile

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and 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, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.

Featured Story: How can investors find ex-dividend dates?

The Fly

Analyst Recommendations for Workday (NASDAQ:WDAY)

Receive News & Ratings for Workday Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Workday and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit