Workday, Inc. (NASDAQ:WDAY) Receives $309.83 Consensus Price Target from Analysts

Shares of Workday, Inc. (NASDAQ:WDAY – Get Rating) have received a consensus recommendation of “Buy” from the thirty-one brokerages that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and twenty-six have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $309.83.

Several analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Workday from $325.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, March 1st. Exane BNP Paribas downgraded Workday from an “outperform” rating to a “neutral” rating in a research report on Tuesday, March 29th. Barclays upped their target price on Workday from $318.00 to $319.00 and gave the company an “overweight” rating in a research report on Tuesday, March 1st. Deutsche Bank Aktiengesellschaft cut their target price on Workday from $360.00 to $340.00 in a research report on Friday, January 21st. Finally, Societe Generale upgraded Workday from a “hold” rating to a “buy” rating and upped their target price for the company from $306.00 to $309.00 in a research report on Tuesday, March 1st.

In other news, insider Douglas A. Robinson sold 1,290 shares of the stock in a transaction that occurred on Tuesday, January 18th. The stock was sold at an average price of $247.94, for a total value of $319,842.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aneel Bhusri sold 3,578 shares of the stock in a transaction that occurred on Tuesday, January 18th. The stock was sold at an average price of $247.95, for a total value of $887,165.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 231,597 shares of company stock worth $55,407,953. Corporate insiders own 24.06% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. IFM Investors Pty Ltd increased its position in Workday by 21.7% in the first quarter. IFM Investors Pty Ltd now owns 32,307 shares of the software maker’s stock worth $7,736,000 after buying an additional 5,762 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in shares of Workday by 8.6% in the first quarter. Wealthcare Advisory Partners LLC now owns 1,160 shares of the software maker’s stock worth $278,000 after acquiring an additional 92 shares during the period. Hudson Value Partners LLC boosted its holdings in shares of Workday by 1.6% in the first quarter. Hudson Value Partners LLC now owns 5,290 shares of the software maker’s stock worth $1,267,000 after acquiring an additional 85 shares during the period. Investment House LLC boosted its holdings in shares of Workday by 21.0% in the first quarter. Investment House LLC now owns 1,180 shares of the software maker’s stock worth $283,000 after acquiring an additional 205 shares during the period. Finally, Gofen & Glossberg LLC IL boosted its holdings in shares of Workday by 29.5% in the first quarter. Gofen & Glossberg LLC IL now owns 4,692 shares of the software maker’s stock worth $1,124,000 after acquiring an additional 1,070 shares during the period. 69.08% of the stock is owned by institutional investors and hedge funds.

Shares of Workday stock opened at $224.67 on Friday. The business’s 50 day simple moving average is $232.42 and its 200 day simple moving average is $256.04. Workday has a 52-week low of $205.90 and a 52-week high of $307.81. The firm has a market cap of $56.17 billion, a PE ratio of 2,246.70 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03.

Workday (NASDAQ:WDAY – Get Rating) last posted its quarterly earnings results on Monday, February 28th. The software maker reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.01). Workday had a return on equity of 2.63% and a net margin of 0.57%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the firm earned ($0.13) EPS. The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year. As a group, equities research analysts predict that Workday will post -0.47 EPS for the current year.

Workday Company Profile (Get Rating)

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments, and to manage their business and operations. The company offers a suite of financial management applications, which enable chief financial officers to maintain accounting information in the general ledger; manage financial processes; 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.

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