Analysts Offer Insights on Technology Companies: IBM (NYSE: IBM) and Workday (NYSE: WDAY)

By Jason Carr

Companies in the Technology sector have received a lot of coverage today as analysts weigh in on IBM (NYSE: IBM) and Workday (NYSE: WDAY).

IBM (NYSE: IBM)

RBC Capital analyst Matthew Hedberg reiterated a Hold rating on IBM (NYSE: IBM) yesterday and set a price target of $180. The company’s shares opened today at $152.03.

According to TipRanks.com, Hedberg is a top 25 analyst with an average return of 22.5% and a 77.7% success rate. Hedberg covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Automatic Data Processing, and Interactive Intelligence.

IBM has an analyst consensus of Hold, with a price target consensus of $168.73.

Workday (NYSE: WDAY)

RBC Capital analyst Ross MacMillan reiterated a Buy rating on Workday (NYSE: WDAY) today and set a price target of $105. The company’s shares opened today at $98.44, close to its 52-week high of $100.40.

According to TipRanks.com, MacMillan is a top 25 analyst with an average return of 23.3% and a 86.6% success rate. MacMillan covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Intralinks Holdings, and Palo Alto Networks.

Currently, the analyst consensus on Workday is Moderate Buy and the average price target is $94.27, representing a -4.2% downside.

In a report issued on May 15, Piper Jaffray also maintained a Buy rating on the stock with a $110 price target.

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