Workday Inc. (NYSE:WDAY)‘s stock had its “neutral” rating reissued by stock analysts at Citigroup Inc. in a research note issued to investors on Wednesday. They presently have a $88.00 price objective on the stock. Citigroup Inc.’s price objective indicates a potential downside of 2.61% from the company’s previous close.
A number of other analysts have also recently commented on the stock. Brean Capital reaffirmed a “sell” rating and set a $62.00 target price on shares of Workday in a report on Wednesday. Jefferies Group upped their target price on shares of Workday from $72.00 to $79.00 and gave the company a “hold” rating in a report on Wednesday. Robert W. Baird reaffirmed an “outperform” rating and set a $95.00 target price on shares of Workday in a report on Wednesday. BTIG Research reissued a “buy” rating and issued a $97.00 price objective on shares of Workday in a research note on Wednesday. Finally, Wedbush raised shares of Workday from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $69.00 to $82.00 in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and seventeen have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $85.56.
Shares of Workday (NYSE:WDAY) opened at 90.36 on Wednesday. Workday has a 1-year low of $47.32 and a 1-year high of $91.39. The company’s market capitalization is $18.07 billion. The firm has a 50-day moving average of $86.15 and a 200 day moving average of $79.04.
Workday (NYSE:WDAY) last announced its earnings results on Wednesday, August 24th. The company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.02. Workday had a negative net margin of 25.71% and a negative return on equity of 26.89%. The business had revenue of $377.70 million for the quarter, compared to analysts’ expectations of $372.68 million. During the same period in the prior year, the company posted $0.02 earnings per share. The firm’s quarterly revenue was up 33.6% on a year-over-year basis. On average, analysts anticipate that Workday will post ($0.03) EPS for the current year.
In related news, CEO Aneel Bhusri sold 10,353 shares of Workday stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $79.06, for a total value of $818,508.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robynne Sisco sold 897 shares of Workday stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $79.01, for a total transaction of $70,871.97. The disclosure for this sale can be found here. 41.78% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Tybourne Capital Management HK Ltd. boosted its stake in Workday by 139.6% in the first quarter. Tybourne Capital Management HK Ltd. now owns 2,955,095 shares of the company’s stock worth $227,069,000 after buying an additional 1,721,958 shares during the period. Vanguard Group Inc. boosted its stake in Workday by 7.5% in the second quarter. Vanguard Group Inc. now owns 8,269,840 shares of the company’s stock worth $617,509,000 after buying an additional 577,294 shares during the period. Norges Bank bought a new stake in Workday during the fourth quarter worth approximately $45,517,000. Emerald Acquisition Ltd. bought a new stake in Workday during the second quarter worth approximately $39,136,000. Finally, Southpoint Capital Advisors LP bought a new stake in Workday during the first quarter worth approximately $38,420,000.
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. It operates in the cloud applications segment.
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