Workday (WDAY) Given New $135.00 Price Target at Royal Bank of Canada

Workday (NASDAQ:WDAY) had its price objective raised by Royal Bank of Canada to $135.00 in a research report released on Thursday morning. The brokerage currently has an outperform rating on the software maker’s stock.

WDAY has been the topic of several other reports. JPMorgan Chase & Co. reaffirmed a buy rating and set a $120.00 price objective on shares of Workday in a report on Tuesday, November 28th. BidaskClub cut Workday from a strong-buy rating to a buy rating in a report on Tuesday, December 5th. Barclays upped their price objective on Workday from $108.00 to $117.00 and gave the stock an equal weight rating in a report on Friday, November 17th. Guggenheim started coverage on Workday in a report on Monday, October 30th. They set a neutral rating and a $105.00 price objective on the stock. Finally, Deutsche Bank upped their price objective on Workday from $105.00 to $115.00 and gave the stock a hold rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eighteen have issued a buy rating to the company’s stock. Workday presently has a consensus rating of Hold and an average price target of $108.91.

Shares of Workday (NASDAQ:WDAY) opened at $124.36 on Thursday. The stock has a market capitalization of $26,390.70, a P/E ratio of -75.83 and a beta of 2.01. Workday has a twelve month low of $80.61 and a twelve month high of $128.32. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.74.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Wednesday, November 29th. The software maker reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.10. The business had revenue of $555.40 million for the quarter, compared to analysts’ expectations of $541.05 million. Workday had a negative return on equity of 19.73% and a negative net margin of 16.91%. The company’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 EPS. equities research analysts predict that Workday will post -1.1 earnings per share for the current fiscal year.

In other Workday news, insider Gomez Luciano Fernandez sold 1,709 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $124.23, for a total value of $212,309.07. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP James P. Shaughnessy sold 6,409 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $103.47, for a total value of $663,139.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,199,015 shares of company stock worth $126,965,706. Insiders own 37.71% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its position in shares of Workday by 272.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,050,260 shares of the software maker’s stock worth $310,333,000 after buying an additional 2,231,255 shares in the last quarter. Two Sigma Advisers LP grew its position in shares of Workday by 6.6% during the 4th quarter. Two Sigma Advisers LP now owns 1,129,457 shares of the software maker’s stock worth $114,911,000 after buying an additional 69,700 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Workday by 12.5% during the 4th quarter. Franklin Resources Inc. now owns 1,122,150 shares of the software maker’s stock worth $114,168,000 after buying an additional 124,330 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Workday by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 1,042,200 shares of the software maker’s stock worth $109,838,000 after buying an additional 4,047 shares in the last quarter. Finally, Champlain Investment Partners LLC grew its position in shares of Workday by 1.1% during the 4th quarter. Champlain Investment Partners LLC now owns 885,260 shares of the software maker’s stock worth $90,066,000 after buying an additional 9,345 shares in the last quarter. Institutional investors and hedge funds 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.

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