Workday (NASDAQ:WDAY) Rating Reiterated by JMP Securities

Workday (NASDAQ:WDAY)‘s stock had its “market outperform” rating reaffirmed by equities research analysts at JMP Securities in a report issued on Friday, Benzinga reports. They currently have a $260.00 price target on the software maker’s stock. JMP Securities’ price target suggests a potential upside of 3.74% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. Sanford C. Bernstein boosted their target price on shares of Workday from $275.00 to $284.00 and gave the company an “outperform” rating in a report on Sunday, August 27th. Stifel Nicolaus raised their price objective on Workday from $205.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, August 25th. Canaccord Genuity Group upped their target price on shares of Workday from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, August 25th. JPMorgan Chase & Co. upped their price objective on shares of Workday from $240.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, August 25th. Finally, Guggenheim lifted their target price on shares of Workday from $142.00 to $169.00 and gave the company a “sell” rating in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average price target of $245.71.

Workday Trading Up 0.1 %

WDAY opened at $250.63 on Friday. The firm has a market capitalization of $65.67 billion, a price-to-earnings ratio of -522.15, a price-to-earnings-growth ratio of 11.75 and a beta of 1.23. The company’s 50 day simple moving average is $230.94 and its two-hundred day simple moving average is $209.22. Workday has a 1-year low of $128.72 and a 1-year high of $252.29. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.00 and a quick ratio of 2.00.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 24th. The software maker reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.17. Workday had a positive return on equity of 2.09% and a negative net margin of 1.81%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the business posted ($0.16) earnings per share. The firm’s revenue was up 16.6% compared to the same quarter last year. Analysts expect that Workday will post 0.77 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder David A. Duffield sold 108,334 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $208.37, for a total transaction of $22,573,555.58. Following the completion of the transaction, the insider now directly owns 216,666 shares of the company’s stock, valued at $45,146,694.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Workday news, insider Douglas A. Robinson sold 407 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $246.26, for a total transaction of $100,227.82. Following the sale, the insider now directly owns 178,323 shares in the company, valued at approximately $43,913,821.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 108,334 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $208.37, for a total transaction of $22,573,555.58. Following the completion of the transaction, the insider now owns 216,666 shares of the company’s stock, valued at approximately $45,146,694.42. The disclosure for this sale can be found here. Insiders have sold a total of 132,477 shares of company stock valued at $27,924,696 over the last quarter. Corporate insiders own 21.09% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WDAY. BlackRock Inc. increased its holdings in Workday by 2.1% during the 1st quarter. BlackRock Inc. now owns 12,379,921 shares of the software maker’s stock valued at $2,556,949,000 after acquiring an additional 260,097 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Workday by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 12,152,961 shares of the software maker’s stock worth $2,910,149,000 after purchasing an additional 139,939 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Workday by 59.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,951,816 shares of the software maker’s stock worth $1,229,289,000 after purchasing an additional 2,216,683 shares during the last quarter. FMR LLC lifted its stake in Workday by 9.5% in the 1st quarter. FMR LLC now owns 4,469,451 shares of the software maker’s stock valued at $923,120,000 after buying an additional 387,018 shares in the last quarter. Finally, State Street Corp grew its holdings in Workday by 0.5% during the 2nd quarter. State Street Corp now owns 4,293,651 shares of the software maker’s stock valued at $969,893,000 after buying an additional 22,929 shares during the last quarter. 68.46% of the stock is owned by hedge funds and other institutional investors.

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, 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, 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.