Workday (WDAY) Stock Rating Reaffirmed by Bank of America

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Workday (NASDAQ:WDAY)‘s stock had its “buy” rating restated by research analysts at Bank of America in a report released on Friday, Briefing.com Automated Import reports. They presently have a $208.00 price target on the software maker’s stock. Bank of America‘s target price would indicate a potential downside of 1.13% from the company’s current price.

WDAY has been the subject of a number of other research reports. Cowen raised shares of Workday from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $160.00 to $225.00 in a research report on Friday, February 15th. Citigroup boosted their price objective on shares of Workday from $106.00 to $138.00 and gave the company a “sell” rating in a research report on Friday, March 1st. Barclays boosted their price objective on shares of Workday from $180.00 to $187.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. Northland Securities reissued a “hold” rating and issued a $200.00 price objective on shares of Workday in a research report on Friday, March 1st. Finally, KeyCorp boosted their price objective on shares of Workday from $216.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. Workday currently has a consensus rating of “Buy” and an average target price of $185.69.

Shares of NASDAQ WDAY opened at $210.38 on Friday. Workday has a 12-month low of $117.24 and a 12-month high of $213.98. The stock has a market capitalization of $47.06 billion, a price-to-earnings ratio of -172.44 and a beta of 1.79. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, February 28th. The software maker reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.02. The business had revenue of $788.63 million during the quarter, compared to analyst estimates of $776.84 million. Workday had a negative net margin of 14.82% and a negative return on equity of 14.75%. On average, equities analysts predict that Workday will post -1.2 EPS for the current fiscal year.

In related news, Director David A. Duffield sold 278,758 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $179.40, for a total transaction of $50,009,185.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Aneel Bhusri sold 300,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $179.58, for a total transaction of $53,874,000.00. The disclosure for this sale can be found here. Insiders have sold 1,126,562 shares of company stock valued at $208,547,706 in the last ninety days. 29.80% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. American International Group Inc. grew its stake in Workday by 0.4% during the first quarter. American International Group Inc. now owns 13,836 shares of the software maker’s stock worth $2,668,000 after buying an additional 54 shares during the period. Shine Investment Advisory Services Inc. grew its stake in Workday by 60.9% during the first quarter. Shine Investment Advisory Services Inc. now owns 148 shares of the software maker’s stock worth $29,000 after buying an additional 56 shares during the period. IBM Retirement Fund grew its stake in Workday by 1.7% during the first quarter. IBM Retirement Fund now owns 3,417 shares of the software maker’s stock worth $659,000 after buying an additional 56 shares during the period. Captrust Financial Advisors grew its stake in Workday by 60.0% during the fourth quarter. Captrust Financial Advisors now owns 160 shares of the software maker’s stock worth $26,000 after buying an additional 60 shares during the period. Finally, CWM LLC grew its stake in Workday by 4.1% during the first quarter. CWM LLC now owns 1,571 shares of the software maker’s stock worth $303,000 after buying an additional 62 shares during the period. Institutional investors own 68.79% 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.

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Analyst Recommendations for Workday (NASDAQ:WDAY)

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