Workday, Inc. (NASDAQ:WDAY) Receives Average Recommendation of “Moderate Buy” from Analysts

Workday, Inc. (NASDAQ:WDAY) has earned a consensus recommendation of “Moderate Buy” from the twenty-eight analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and twenty-one have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $289.46.

A number of equities research analysts recently commented on the company. DA Davidson upped their target price on Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Wells Fargo & Company boosted their target price on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Morgan Stanley cut their price target on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. JMP Securities reissued a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a report on Thursday, September 19th. Finally, Scotiabank initiated coverage on Workday in a report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price on the stock.

Insider Buying and Selling

In other news, Director Wayne A.I. Frederick sold 1,828 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the transaction, the director now directly owns 8,674 shares in the company, valued at $2,097,806.90. This trade represents a 17.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Richard Harry Sauer sold 3,134 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total value of $738,934.52. Following the completion of the sale, the insider now owns 85,795 shares in the company, valued at $20,228,745.10. This represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 359,954 shares of company stock valued at $88,742,132. 20.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Workday

A number of hedge funds have recently added to or reduced their stakes in WDAY. O Shaughnessy Asset Management LLC boosted its holdings in Workday by 42.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 13,380 shares of the software maker’s stock valued at $3,649,000 after purchasing an additional 3,965 shares during the period. Bessemer Group Inc. increased its stake in shares of Workday by 13.4% during the first quarter. Bessemer Group Inc. now owns 2,396 shares of the software maker’s stock worth $654,000 after buying an additional 283 shares during the period. Lake Street Advisors Group LLC acquired a new stake in Workday in the first quarter valued at approximately $214,000. MQS Management LLC purchased a new position in Workday in the first quarter worth approximately $379,000. Finally, Crewe Advisors LLC acquired a new position in Workday during the 1st quarter worth approximately $27,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Price Performance

WDAY opened at $267.75 on Wednesday. Workday has a 1 year low of $199.81 and a 1 year high of $311.28. The business’s 50-day moving average is $247.71 and its two-hundred day moving average is $236.89. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a market capitalization of $70.95 billion, a PE ratio of 46.65, a price-to-earnings-growth ratio of 5.31 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping the consensus estimate of $1.65 by $0.10. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 earnings per share. Research analysts anticipate that Workday will post 2.4 earnings per share for the current fiscal year.

About Workday

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.