Workday Inc (WDAY) is Downgraded by Wedbush to Underperform, Price Target at $63

Workday Inc (WDAY) was Downgraded by Wedbush to ” Underperform” and the brokerage firm has set the Price Target at $63. Earlier the firm had a rating of “Neutral ” on the company shares. Wedbush advised their investors in a research report released on May 27, 2016.

Many Wall Street Analysts have commented on Workday Inc. Company shares were Reiterated by Wunderlich on May 26, 2016 to “Hold”, Firm has raised the Price Target to $ 78 from a previous price target of $70 .Company shares were Reiterated by Barclays on May 26, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 71 from a previous price target of $60 .Company shares were Reiterated by Needham on May 25, 2016 to “Buy”, Firm has raised the Price Target to $ 85 from a previous price target of $80 .

On the company’s financial health, Workday Inc reported $-0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Feb 29, 2016. Analyst had a consensus of $-0.05. The company had revenue of $323.40 million for the quarter, compared to analysts expectations of $319.60 million. The company’s revenue was up 42.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.06 EPS.

Workday Inc opened for trading at $77.47 and hit $78.57 on the upside on Wednesday, eventually ending the session at $77.82, with a gain of 1.14% or 0.88 points. The heightened volatility saw the trading volume jump to 13,74,433 shares. Company has a market cap of $15,175 M.

In a different news, on May 18, 2016, James P Shaughnessy (SVP, General Counsel & Secty) sold 1,932 shares at $71.17 per share price. According to the SEC, on May 18, 2016, James Bozzini (Senior Vice President) sold 3,863 shares at $71.49 per share price. On May 18, 2016, Robynne Sisco (Chief Financial Officer) sold 1,134 shares at $70.85 per share price, according to the Form-4 filing with the securities and exchange commission.

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 a range of companies educational institutions and government agencies. The Company’s applications include Workday Financial Management Workday Human Capital Management (Workday HCM) and Workday Insight Applications. Workday Financial Management is a unified application built on a single global core with a range of financial capabilities relevant analytics and metrics and an auditable process management built to help manage financial processes for global organizations. Workday HCM enables an organization to staff pay organize and develop its global workforce. Workday Insight Applications is a suite of applications that leverage advanced data science and machine learning methodologies to help customers make financial and workforce decisions.

Workday Inc

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