Technically Speaking For February 08: Workday, Inc. (WDAY), Accenture plc (ACN) – The RNS Daily

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Workday, Inc. (WDAY) rose 2.8% this week, a trend that has led to both investors and traders taking note of the stock. Over the past one year, the equity price has embarked on a rally that has seen it rise 60.77% and is now up by 16.86% since start of this year. A look at its monthly performance shows that the stock has recorded a 11.78% gain over the past 30 days. Its equity price climbed by 43.19% over the past three months which led to its overall six-month increase to stand at 40.57%.

Experts from research firms are bullish about the near-term performance of Workday, Inc. with most of them predicting a $163.56 price target on a short-term (12 months) basis. The average price target by the analysts will see a -12.35% rise in the stock and would lead to WDAY’s market cap to surge to $34.77B. The stock has been rated an average 2.4, which roughly stands towards the bearish end of the spectrum. Reuters looked into the 38 analysts that track Workday, Inc. (NASDAQ:WDAY) and find out that 15 of them rated it as a Hold. 19 of the 23 analysts rated it as a Buy or a Strong Buy while 4 advised investors to desist from buying the stock or sell it if they already possess it.

A look at WDAY technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 66.05 point. Its trading volume has lost -1146580 shares compared to readings over the past three months as it recently exchanged 1303420 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 2450000 shares, and this is 0.53 times the normal volume.

The price of Accenture plc (NYSE:ACN) currently stands at $155.18 after it went down by $-1.98 or -1.26% and has found a strong support at $154.25 a share. If the ACN price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $153.31 mark would also be bad for the stock as it means that the stock would plunge by 1.21% from its current position. However, if the stock price is able to trade above the resistance point around $156.06, then it could likely surge higher to try and break the upward resistance which stands at $156.93 a share. Its average daily volatility over the past one month stands at 1.42%. The stock has plunged by 0.64% from its 52-weeks high of $154.19 which it reached on Sep. 21, 2018. In general, it is 14.53% above its 52-weeks lowest point which stands at $132.63 and this setback was observed on Dec. 26, 2018.

Analysts have predicted a price target for Accenture plc (ACN) for 1 year and it stands at an average $169.96/share. This means that it would likely increase by 9.52% from its current position. The current price of the stock has been moving between $154.19 and $156. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $130. On the other hand, one analyst is super bullish about the price, setting a target as high as $205.

The ACN stock Stochastic Oscillator (%D) is at 92.24%, which means that it is currently overbought and its prices could dip very soon. The shares P/S ratio stands at 2.32 which compares to the 399.43 recorded by the industry or the 133.14 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 19.69, which is lower than the 22.88 multiple of 12-month price-earnings (P/E). The company’s earnings have gone up, with a quarterly increase rate of 6% over the past five years.

Analysts view Accenture plc (NYSE:ACN) as a Hold, with 2.1 consensus rating. Reuters surveyed 27 analysts that follow ACN and found that 6 of those analysts rated the stock as a Hold. The remaining 21 were divided, with 19 analyst rating it as a Buy or a Strong Buy while 2 analysts advised investors to desist from buying Accenture plc (ACN) shares or sell it if they already own it.

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