Stock analysts at Cleveland Research started coverage on shares of Workday (NASDAQ:WDAY) in a research note issued to investors on Wednesday, The Fly reports. The firm set a “buy” rating on the software maker’s stock.

WDAY has been the subject of a number of other research reports. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $120.00 price objective on shares of Workday in a research report on Tuesday, November 28th. Canaccord Genuity reaffirmed a “buy” rating and set a $125.00 price objective on shares of Workday in a research report on Friday, October 6th. FBN Securities raised shares of Workday from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $115.00 to $125.00 in a research report on Wednesday, October 11th. BidaskClub cut shares of Workday from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 5th. Finally, Barclays raised their price target on shares of Workday from $108.00 to $117.00 and gave the company an “equal weight” rating in a research report on Friday, November 17th. Two analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seventeen have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $106.81.

Workday (NASDAQ WDAY) traded down $0.48 during trading hours on Wednesday, hitting $119.78. 333,752 shares of the company were exchanged, compared to its average volume of 1,525,442. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.11 and a quick ratio of 2.11. The stock has a market cap of $25,090.00, a PE ratio of -83.18 and a beta of 1.83. Workday has a 1 year low of $80.61 and a 1 year high of $121.98.

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

In related news, CEO Aneel Bhusri sold 75,000 shares of Workday stock in a transaction on Friday, December 1st. The shares were sold at an average price of $100.34, for a total transaction of $7,525,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mark S. Peek sold 15,000 shares of Workday stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $100.92, for a total transaction of $1,513,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,197,306 shares of company stock worth $126,753,397 over the last quarter. 37.71% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. IBM Retirement Fund acquired a new position in Workday in the third quarter valued at $204,000. Beech Hill Advisors Inc. acquired a new position in Workday in the fourth quarter valued at $275,000. Janus Henderson Group PLC increased its stake in Workday by 6,210.6% in the second quarter. Janus Henderson Group PLC now owns 1,038,153 shares of the software maker’s stock valued at $100,701,000 after purchasing an additional 1,021,702 shares during the period. Xact Kapitalforvaltning AB increased its stake in Workday by 9.5% in the third quarter. Xact Kapitalforvaltning AB now owns 10,933 shares of the software maker’s stock valued at $1,152,000 after purchasing an additional 949 shares during the period. Finally, Pictet Asset Management Ltd. increased its stake in Workday by 7.8% in the third quarter. Pictet Asset Management Ltd. now owns 49,700 shares of the software maker’s stock valued at $5,238,000 after purchasing an additional 3,600 shares during the period. Institutional investors own 67.00% of the company’s stock.

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About Workday

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.

The Fly

Analyst Recommendations for Workday (NASDAQ:WDAY)

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