Workday Inc (WDAY) is Downgraded by Needham to Hold

Workday Inc (WDAY) was Downgraded by Needham to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Needham advised their investors in a research report released on Aug 22, 2016.

Many Wall Street Analysts have commented on Workday Inc. Citigroup Downgraded Workday Inc on Jul 20, 2016 to ” Neutral”, Price Target of the shares are set at $87.BMO Capital Markets Initiated Workday Inc on Jun 15, 2016 to “Market Perform”, Price Target of the shares are set at $90.Workday Inc was Downgraded by Cross Research to ” Hold” on May 31, 2016.

On the company’s financial health, Workday Inc reported $0.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on May 31, 2016. Analyst had a consensus of $-0.02. The company had revenue of $345.40 million for the quarter, compared to analysts expectations of $338.76 million. The company’s revenue was up 37.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.02 EPS.

Workday Inc opened for trading at $81 and hit $82.45 on the upside on Friday, eventually ending the session at $82.08, with a gain of 0.87% or 0.71 points. The heightened volatility saw the trading volume jump to 12,38,245 shares. Company has a market cap of $16,170 M.

In a different news, on Aug 17, 2016, Aneel Bhusri (Chief Executive Officer) sold 8,736 shares at $83.67 per share price. According to the SEC, on Aug 17, 2016, David A Duffield (Chairman) sold 3,124 shares at $83.70 per share price. On Aug 17, 2016, Michael A. Stankey (Vice Chairman) sold 6,484 shares at $83.68 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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