Workday’s (NYSE:WDAY) “Market Perform” Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets restated their market perform rating on shares of Workday, Inc. (NYSE:WDAY) in a research note released on Friday, September 1st. BMO Capital Markets currently has a $117.00 price objective on the software maker’s stock, up from their prior price objective of $110.00.

Several other analysts have also commented on the stock. Canaccord Genuity restated a buy rating and set a $115.00 price target on shares of Workday in a research report on Friday, July 7th. JMP Securities reaffirmed an overweight rating and set a $90.00 price objective on shares of Workday in a report on Thursday, June 1st. Citigroup Inc. reaffirmed a sell rating on shares of Workday in a report on Tuesday, May 30th. Bank of America Corporation reissued a buy rating and issued a $114.00 price target (up from $96.00) on shares of Workday in a research note on Friday, June 2nd. Finally, Drexel Hamilton reaffirmed a buy rating and set a $114.00 target price on shares of Workday in a research note on Wednesday, May 31st. Four research analysts have rated the stock with a sell rating, twenty-one have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $98.79.

Workday (NYSE WDAY) traded up 0.26% during midday trading on Friday, hitting $108.18. The company had a trading volume of 528,304 shares. The firm’s market capitalization is $22.39 billion. The firm’s 50 day moving average is $103.77 and its 200-day moving average is $94.83. Workday has a 52 week low of $65.79 and a 52 week high of $111.45.

Workday (NYSE:WDAY) last released its quarterly earnings data on Wednesday, August 30th. The software maker reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.09. The firm had revenue of $525.30 million for the quarter, compared to analyst estimates of $507.44 million. Workday had a negative net margin of 19.78% and a negative return on equity of 24.07%. The business’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) earnings per share. On average, equities research analysts expect that Workday will post $0.83 EPS for the current fiscal year.

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In other Workday news, SVP James P. Shaughnessy sold 6,000 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $97.85, for a total value of $587,100.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Aneel Bhusri sold 11,091 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $102.70, for a total transaction of $1,139,045.70. The disclosure for this sale can be found here. Insiders sold a total of 853,425 shares of company stock worth $84,574,732 over the last three months. 37.71% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Toronto Dominion Bank grew its stake in shares of Workday by 15.1% during the 2nd quarter. Toronto Dominion Bank now owns 1,536 shares of the software maker’s stock worth $149,000 after purchasing an additional 201 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Workday during the 2nd quarter worth $1,273,000. Arcus Capital Partners LLC grew its stake in shares of Workday by 20.0% during the 2nd quarter. Arcus Capital Partners LLC now owns 3,750 shares of the software maker’s stock worth $364,000 after purchasing an additional 625 shares during the period. California State Teachers Retirement System grew its stake in shares of Workday by 3.7% during the 2nd quarter. California State Teachers Retirement System now owns 240,307 shares of the software maker’s stock worth $23,310,000 after purchasing an additional 8,545 shares during the period. Finally, Bank of Nova Scotia acquired a new position in shares of Workday during the 2nd quarter worth $3,457,000. 67.74% of the stock is currently owned by institutional investors and hedge funds.

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 (NYSE:WDAY)




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