Workday (NASDAQ:WDAY – Get Free Report) was upgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research note issued on Wednesday, MarketBeat.com reports. The brokerage currently has a $300.00 target price on the software maker’s stock, up from their previous target price of $265.00. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 17.79% from the stock’s current price.
WDAY has been the topic of several other reports. BMO Capital Markets reiterated an “outperform” rating and set a $300.00 price target on shares of Workday in a report on Wednesday, September 18th. JMP Securities reiterated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a report on Thursday, September 19th. Morgan Stanley boosted their price objective on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Barclays decreased their target price on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Finally, Oppenheimer restated an “outperform” rating and issued a $300.00 price target on shares of Workday in a report on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and a consensus target price of $292.25.
Read Our Latest Research Report on WDAY
Workday Trading Up 2.0 %
Workday (NASDAQ:WDAY – Get Free Report) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS. As a group, research analysts expect that Workday will post 2.58 EPS for the current year.
Insider Transactions at Workday
In other Workday news, major shareholder David A. Duffield sold 70,003 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $25,872,846.40. The trade was a 40.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the transaction, the chief executive officer now owns 13,972 shares in the company, valued at $3,546,931.92. The trade was a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 368,257 shares of company stock valued at $94,938,455 in the last quarter. 20.00% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of WDAY. Principal Financial Group Inc. boosted its position in Workday by 42.8% in the second quarter. Principal Financial Group Inc. now owns 12,275 shares of the software maker’s stock valued at $2,744,000 after buying an additional 3,679 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Workday by 373.9% during the 2nd quarter. Acadian Asset Management LLC now owns 27,538 shares of the software maker’s stock valued at $6,152,000 after acquiring an additional 21,727 shares during the period. Caprock Group LLC boosted its holdings in shares of Workday by 39.0% in the 2nd quarter. Caprock Group LLC now owns 2,660 shares of the software maker’s stock valued at $595,000 after acquiring an additional 746 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Workday in the second quarter worth $65,000. Finally, Wedbush Securities Inc. raised its holdings in shares of Workday by 18.4% during the second quarter. Wedbush Securities Inc. now owns 2,390 shares of the software maker’s stock worth $534,000 after purchasing an additional 371 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.
Workday Company Profile
Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.
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