Workday (WDAY) Hits New 1-Year High at $213.98

Shares of Workday Inc (NASDAQ:WDAY) reached a new 52-week high on Thursday . The stock traded as high as $213.98 and last traded at $212.12, with a volume of 112270 shares changing hands. The stock had previously closed at $204.99.

WDAY has been the subject of several research reports. BMO Capital Markets reissued an “outperform” rating and issued a $215.00 target price on shares of Workday in a report on Friday, March 1st. Deutsche Bank boosted their target price on Workday from $155.00 to $190.00 and gave the company a “hold” rating in a report on Friday, March 1st. Needham & Company LLC reissued a “buy” rating and issued a $230.00 target price (up from $170.00) on shares of Workday in a report on Friday, March 1st. Northland Securities reissued a “hold” rating and issued a $200.00 target price on shares of Workday in a report on Friday, March 1st. Finally, KeyCorp boosted their target price on Workday from $216.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Four analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. Workday currently has a consensus rating of “Buy” and a consensus price target of $185.69.

The company has a debt-to-equity ratio of 0.50, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $45.97 billion, a P/E ratio of -173.77 and a beta of 1.79.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, February 28th. The software maker reported ($0.29) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.02. The firm had revenue of $788.63 million during the quarter, compared to the consensus estimate of $776.84 million. Workday had a negative return on equity of 14.75% and a negative net margin of 14.82%. As a group, analysts predict that Workday Inc will post -1.2 EPS for the current year.

In other news, Director David A. Duffield sold 278,758 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $179.40, for a total transaction of $50,009,185.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Aneel Bhusri sold 300,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $179.58, for a total value of $53,874,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,125,508 shares of company stock valued at $208,331,415. 29.80% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc grew its holdings in shares of Workday by 0.8% in the 3rd quarter. Vanguard Group Inc now owns 12,604,769 shares of the software maker’s stock worth $1,840,044,000 after acquiring an additional 98,167 shares during the period. Jennison Associates LLC grew its holdings in shares of Workday by 6.8% in the 1st quarter. Jennison Associates LLC now owns 8,716,482 shares of the software maker’s stock worth $1,680,974,000 after acquiring an additional 552,280 shares during the period. Norges Bank acquired a new stake in shares of Workday in the 4th quarter worth approximately $198,900,000. Blair William & Co. IL grew its holdings in shares of Workday by 5.6% in the 1st quarter. Blair William & Co. IL now owns 1,077,343 shares of the software maker’s stock worth $207,766,000 after acquiring an additional 57,358 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Workday by 3.3% in the 1st quarter. Northern Trust Corp now owns 1,019,275 shares of the software maker’s stock worth $196,566,000 after acquiring an additional 32,907 shares during the period. 68.79% of the stock is owned by institutional investors and hedge funds.

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About Workday (NASDAQ:WDAY)

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.

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