Workday Inc (WDAY) is Reiterated by Needham to Buy, Raises Price Target to $ 85

Workday Inc (WDAY) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 85 from a previous price target of $80 . Needham advised their investors in a research report released on May 25, 2016.

Many Wall Street Analysts have commented on Workday Inc. Workday Inc was Downgraded by Brean Capital to ” Sell” on May 9, 2016. Workday Inc was Downgraded by Pacific Crest to ” Sector Weight” on Apr 25, 2016. Company shares were Reiterated by RBC Capital Mkts on Apr 4, 2016 to “Outperform”, Firm has raised the Price Target to $ 92 from a previous price target of $72 .

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 $74.21 and hit $75.32 on the upside on Friday, eventually ending the session at $75.26, with a gain of 2.28% or 1.68 points. The heightened volatility saw the trading volume jump to 14,11,356 shares. Company has a market cap of $14,676 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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