Workday, Inc. (NASDAQ:WDAY) Given Consensus Rating of “Moderate Buy” by Brokerages

Workday, Inc. (NASDAQ:WDAY) has earned an average rating of “Moderate Buy” from the thirty-one ratings firms that are covering the company, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $300.36.

Several brokerages have issued reports on WDAY. UBS Group raised their price objective on shares of Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Morgan Stanley cut Workday from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $330.00 to $275.00 in a research report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price objective on shares of Workday in a research report on Monday. Oppenheimer boosted their target price on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Finally, Loop Capital increased their price target on Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, February 19th.

Insider Activity

In related news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $261.75, for a total value of $14,658,000.00. Following the completion of the transaction, the insider now owns 172,000 shares of the company’s stock, valued at approximately $45,021,000. The trade was a 24.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the sale, the director now directly owns 6,845 shares in the company, valued at $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 417,001 shares of company stock worth $105,735,200 over the last ninety days. 20.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Workday

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares during the period. Janus Henderson Group PLC increased its stake in Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after purchasing an additional 480,459 shares during the last quarter. State Street Corp lifted its position in Workday by 1.4% during the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after buying an additional 67,380 shares during the period. Geode Capital Management LLC boosted its stake in Workday by 61.9% in the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock worth $1,193,105,000 after buying an additional 1,772,223 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Workday by 60.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker’s stock valued at $960,454,000 after buying an additional 1,406,088 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Up 0.2 %

WDAY opened at $249.91 on Tuesday. Workday has a one year low of $199.81 and a one year high of $294.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a market capitalization of $66.48 billion, a P/E ratio of 41.44, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The business’s 50-day simple moving average is $256.83 and its 200-day simple moving average is $255.05.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Analysts anticipate that Workday will post 2.63 EPS for the current 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.