Workday (NASDAQ:WDAY) Upgraded by Daiwa America to “Strong-Buy” Rating

Daiwa America upgraded shares of Workday (NASDAQ:WDAY) to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Several other equities analysts also recently weighed in on the company. KeyCorp lifted their target price on Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Wells Fargo & Company lifted their target price on Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Redburn Atlantic assumed coverage on Workday in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. Canaccord Genuity Group raised their price target on Workday from $300.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Finally, Barclays decreased their price target on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and a consensus price target of $302.14.

Workday Stock Performance

WDAY stock opened at $259.61 on Tuesday. The company has a market cap of $69.06 billion, a P/E ratio of 43.05, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35. Workday has a 1 year low of $199.81 and a 1 year high of $294.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The stock’s fifty day moving average price is $258.98 and its 200-day moving average price is $255.49.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. On average, equities analysts forecast that Workday will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 66,455 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $259.52, for a total value of $17,246,401.60. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,729,781.44. This trade represents a 39.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the sale, the chief executive officer now owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 435,829 shares of company stock valued at $113,033,319 in the last ninety days. 20.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Workday

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WDAY. Crews Bank & Trust acquired a new stake in Workday during the 4th quarter worth $26,000. Roxbury Financial LLC acquired a new position in shares of Workday during the fourth quarter worth about $25,000. Avion Wealth increased its stake in shares of Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Workday during the third quarter worth about $26,000. Finally, TCTC Holdings LLC acquired a new position in shares of Workday during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Company Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.