Workday (WDAY) Earns “Market Perform” Rating from Cowen

Workday (NASDAQ:WDAY)‘s stock had its “market perform” rating reiterated by equities research analysts at Cowen in a research report issued on Thursday. They presently have a $117.00 price objective on the software maker’s stock, up from their previous price objective of $107.00. Cowen’s target price points to a potential downside of 5.92% from the company’s current price.

WDAY has been the subject of a number of other reports. Northland Securities restated a “hold” rating and issued a $90.00 price objective on shares of Workday in a report on Sunday, October 29th. Guggenheim began coverage on shares of Workday in a report on Monday, October 30th. They issued a “neutral” rating and a $105.00 price objective for the company. UBS Group restated a “sell” rating and issued a $95.00 price objective (down from $121.00) on shares of Workday in a report on Thursday, November 9th. Robert W. Baird restated a “buy” rating and issued a $114.00 price objective on shares of Workday in a report on Friday, November 10th. Finally, Barclays boosted their price objective on shares of Workday from $108.00 to $117.00 and gave the stock an “equal weight” rating in a report on Friday, November 17th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and eighteen have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $108.91.

Shares of Workday (NASDAQ:WDAY) traded down $1.31 on Thursday, hitting $124.36. The stock had a trading volume of 1,324,800 shares, compared to its average volume of 1,584,184. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.11 and a current ratio of 2.11. Workday has a 12-month low of $80.61 and a 12-month high of $128.32. The company has a market cap of $26,390.70, a PE ratio of -76.74 and a beta of 2.01.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Wednesday, November 29th. The software maker reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.10. Workday had a negative return on equity of 19.73% and a negative net margin of 16.91%. The firm had revenue of $555.40 million for the quarter, compared to analysts’ expectations of $541.05 million. During the same period in the previous year, the firm posted $0.03 EPS. The business’s revenue for the quarter was up 35.6% compared to the same quarter last year. sell-side analysts forecast that Workday will post -1.1 EPS for the current fiscal year.

In other news, Director David A. Duffield sold 482,001 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $103.77, for a total value of $50,017,243.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Aneel Bhusri sold 75,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was 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. Insiders sold a total of 1,199,015 shares of company stock valued at $126,965,706 over the last 90 days. 37.71% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. IBM Retirement Fund bought a new position in Workday in the 3rd quarter worth $204,000. Beech Hill Advisors Inc. bought a new position in Workday in the 4th quarter worth $275,000. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Workday by 3.2% in the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 610,443 shares of the software maker’s stock worth $62,106,000 after buying an additional 19,122 shares during the period. Xact Kapitalforvaltning AB boosted its holdings in Workday by 9.5% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 10,933 shares of the software maker’s stock worth $1,152,000 after buying an additional 949 shares during the period. Finally, Pictet Asset Management Ltd. boosted its holdings in Workday by 7.8% in the 3rd quarter. Pictet Asset Management Ltd. now owns 49,700 shares of the software maker’s stock worth $5,238,000 after buying an additional 3,600 shares during the period. Hedge funds and other institutional investors own 68.19% of the company’s stock.

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Workday Company Profile

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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