Workday, Inc. (NASDAQ:WDAY) Receives $293.62 Average Target Price from Analysts

Shares of Workday, Inc. (NASDAQ:WDAY) have received an average rating of “Moderate Buy” from the thirty-two research firms that are covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold recommendation, twenty-one have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $293.62.

A number of equities analysts have recently commented on WDAY shares. Wells Fargo & Company dropped their price objective on Workday from $360.00 to $325.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Loop Capital upped 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. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price objective on shares of Workday in a research report on Monday, March 24th. Guggenheim reaffirmed a “neutral” rating on shares of Workday in a research report on Wednesday, February 26th. Finally, UBS Group increased their price target on shares of Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th.

Workday Stock Down 0.6%

Shares of Workday stock opened at $273.05 on Wednesday. Workday has a 12-month low of $199.81 and a 12-month high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average price of $240.57 and a two-hundred day moving average price of $253.29. The stock has a market capitalization of $72.63 billion, a P/E ratio of 45.28, a PEG ratio of 3.55 and a beta of 1.30.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (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 the consensus estimate of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Equities analysts expect that Workday will post 2.63 earnings per share for the current year.

Insider Activity at Workday

In related news, CAO Mark S. Garfield sold 497 shares of the firm’s stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the completion of the transaction, the chief accounting officer now directly owns 34,385 shares of the company’s stock, valued at approximately $7,789,921.75. This trade represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sayan Chakraborty sold 6,056 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the transaction, the insider now owns 111,324 shares in the company, valued at approximately $29,556,522. The trade was a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 321,724 shares of company stock valued at $77,976,126. 19.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Roxbury Financial LLC acquired a new position in shares of Workday in the fourth quarter valued at $25,000. Crews Bank & Trust acquired a new stake in shares of Workday during the 4th quarter worth about $26,000. Avion Wealth boosted its holdings in shares of Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares during the period. Cornerstone Planning Group LLC boosted its holdings in shares of Workday by 76.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker’s stock worth $28,000 after buying an additional 54 shares during the period. Finally, Dagco Inc. acquired a new position in Workday in the 1st quarter valued at about $31,000. 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.