Workday (NASDAQ:WDAY) Rating Increased to Buy at Deutsche Bank Aktiengesellschaft

Workday (NASDAQ:WDAY) was upgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a report issued on Wednesday,Benzinga reports. The firm presently has a $300.00 price target on the software maker’s stock, up from their previous price target of $265.00. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 20.15% from the stock’s previous close.

WDAY has been the topic of a number of other research reports. Guggenheim raised Workday from a “sell” rating to a “neutral” rating in a report on Monday. Wells Fargo & Company raised their price objective on Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Loop Capital decreased their price objective on shares of Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Barclays decreased their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Finally, Mizuho upped their target price on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Seven research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $292.25.

Workday Price Performance

Shares of Workday stock opened at $249.68 on Wednesday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday has a twelve month low of $199.81 and a twelve month high of $311.28. The stock has a market capitalization of $66.41 billion, a P/E ratio of 41.41, a PEG ratio of 5.04 and a beta of 1.34. The business’s fifty day moving average price is $261.60 and its 200 day moving average price is $245.37.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm earned $0.47 EPS. Workday’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, research analysts anticipate that Workday will post 2.58 earnings per share for the current year.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the completion of the sale, the insider now directly owns 284,000 shares in the company, valued at approximately $78,188,040. The trade was a 16.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Wayne A.I. Frederick sold 1,828 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $241.85, for a total transaction of $442,101.80. Following the sale, the director now owns 8,674 shares in the company, valued at approximately $2,097,806.90. This represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 370,085 shares of company stock valued at $95,380,557 over the last ninety days. 20.00% of the stock is currently owned by company insiders.

Institutional Trading of Workday

Several large investors have recently bought and sold shares of the business. Principal Financial Group Inc. increased its position in shares of Workday by 42.8% during the 2nd quarter. Principal Financial Group Inc. now owns 12,275 shares of the software maker’s stock worth $2,744,000 after purchasing an additional 3,679 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Workday by 373.9% in the 2nd quarter. Acadian Asset Management LLC now owns 27,538 shares of the software maker’s stock valued at $6,152,000 after buying an additional 21,727 shares during the last quarter. Caprock Group LLC increased its position in Workday by 39.0% during the second quarter. Caprock Group LLC now owns 2,660 shares of the software maker’s stock worth $595,000 after buying an additional 746 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in Workday in the second quarter valued at $65,000. Finally, Wedbush Securities Inc. lifted its position in Workday by 18.4% during the 2nd quarter. Wedbush Securities Inc. now owns 2,390 shares of the software maker’s stock worth $534,000 after acquiring an additional 371 shares during the period. 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.