Daiwa America Upgrades Workday (NASDAQ:WDAY) to Strong-Buy

Workday (NASDAQ:WDAY) was upgraded by research analysts at Daiwa America to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Other research analysts have also issued research reports about the company. UBS Group upped their price objective on Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. JMP Securities restated a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research report on Thursday, February 6th. BMO Capital Markets boosted their price target on Workday from $300.00 to $314.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Redburn Atlantic began coverage on shares of Workday in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. Finally, Royal Bank of Canada lifted their price objective on Workday from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $302.14.

Workday Stock Up 2.4 %

Shares of NASDAQ:WDAY opened at $259.61 on Tuesday. Workday has a 12-month low of $199.81 and a 12-month high of $294.00. The stock has a fifty day simple moving average of $258.98 and a two-hundred day simple moving average of $255.49. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $69.06 billion, a price-to-earnings ratio of 43.05, a PEG ratio of 3.55 and a beta of 1.35.

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

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total value of $15,692,670.00. Following the completion of the sale, the insider now owns 284,000 shares in the company, valued at $78,188,040. This represents a 16.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Wayne A.I. Frederick sold 1,829 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total value of $462,901.61. Following the sale, the director now directly owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 435,829 shares of company stock valued at $113,033,319 in the last quarter. Company insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

A number of institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC raised its stake in shares of Workday by 12.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 19,228 shares of the software maker’s stock worth $4,700,000 after purchasing an additional 2,076 shares in the last quarter. QRG Capital Management Inc. increased its stake in Workday by 14.4% during the third quarter. QRG Capital Management Inc. now owns 7,170 shares of the software maker’s stock valued at $1,752,000 after acquiring an additional 905 shares during the period. Moloney Securities Asset Management LLC bought a new position in Workday in the third quarter worth $307,000. Concurrent Investment Advisors LLC boosted its position in shares of Workday by 31.7% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,879 shares of the software maker’s stock valued at $459,000 after acquiring an additional 452 shares in the last quarter. Finally, Graypoint LLC lifted its position in shares of Workday by 19.8% during the 3rd quarter. Graypoint LLC now owns 2,516 shares of the software maker’s stock worth $615,000 after buying an additional 416 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.