Workday (WDAY) Coverage Initiated at Atlantic Securities

Equities researchers at Atlantic Securities initiated coverage on shares of Workday (NASDAQ:WDAY) in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm set an “overweight” rating and a $206.00 price target on the software maker’s stock. Atlantic Securities’ price target would suggest a potential upside of 22.65% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. BidaskClub downgraded Workday from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 20th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $185.00 price objective (up previously from $175.00) on shares of Workday in a report on Friday, November 30th. Cantor Fitzgerald set a $185.00 price objective on Workday and gave the stock a “buy” rating in a report on Sunday, December 2nd. Stifel Nicolaus increased their price objective on Workday to $160.00 and gave the stock a “hold” rating in a report on Friday, November 30th. Finally, Jefferies Financial Group increased their price objective on Workday from $141.00 to $152.00 and gave the stock a “hold” rating in a report on Friday, November 30th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $157.37.

Shares of Workday stock opened at $167.96 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.52. The company has a market cap of $36.56 billion, a P/E ratio of -132.25 and a beta of 1.81. Workday has a 52 week low of $107.75 and a 52 week high of $172.67.



Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, November 29th. The software maker reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.76. The company had revenue of $743.20 million during the quarter, compared to the consensus estimate of $723.38 million. Workday had a negative return on equity of 15.98% and a negative net margin of 15.40%. The firm’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 earnings per share. On average, equities analysts predict that Workday will post -1.05 earnings per share for the current fiscal year.

In other Workday news, Director David A. Duffield sold 1,434 shares of Workday stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $127.25, for a total value of $182,476.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP James P. Shaughnessy sold 2,190 shares of Workday stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $127.35, for a total value of $278,896.50. The disclosure for this sale can be found here. Insiders sold 965,462 shares of company stock worth $157,157,286 in the last ninety days. Corporate insiders own 33.59% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. North Star Investment Management Corp. boosted its position in Workday by 100.0% during the fourth quarter. North Star Investment Management Corp. now owns 200 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Lenox Wealth Advisors LLC acquired a new position in Workday in the 4th quarter worth approximately $73,000. Stratos Wealth Partners LTD. acquired a new position in Workday in the 3rd quarter worth approximately $185,000. Athena Capital Advisors LLC acquired a new position in Workday in the 3rd quarter worth approximately $202,000. Finally, MML Investors Services LLC purchased a new stake in Workday in the 3rd quarter worth approximately $208,000. 67.96% of the stock is currently owned by institutional investors and hedge funds.

Workday Company Profile

Workday, Inc provides enterprise cloud applications for finance and human resources worldwide. It provides applications for customers to manage critical business functions to 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, employee expense and revenue management, projects, procurement, inventory, and grants management.

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Analyst Recommendations for Workday (NASDAQ:WDAY)

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