Workday (NASDAQ:WDAY) Given “Outperform” Rating at Royal Bank Of Canada

Royal Bank Of Canada reissued their outperform rating on shares of Workday (NASDAQ:WDAY) in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a $340.00 target price on the software maker’s stock.

Several other brokerages also recently commented on WDAY. Cantor Fitzgerald upgraded shares of Workday to a “strong-buy” rating in a report on Thursday, September 11th. BMO Capital Markets dropped their target price on shares of Workday from $314.00 to $285.00 and set an “outperform” rating on the stock in a research note on Friday, August 22nd. Morgan Stanley set a $255.00 target price on shares of Workday and gave the stock an “equal weight” rating in a research note on Friday, May 23rd. DA Davidson upped their price target on shares of Workday from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Workday from $295.00 to $290.00 and set an “overweight” rating for the company in a research report on Friday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $287.83.

Workday Stock Up 7.2%

Shares of NASDAQ WDAY opened at $234.88 on Wednesday. The firm’s 50-day moving average price is $228.37 and its 200-day moving average price is $238.27. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $62.71 billion, a price-to-earnings ratio of 108.74, a P/E/G ratio of 3.03 and a beta of 1.12. Workday has a 12-month low of $205.33 and a 12-month high of $294.00.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.12. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Workday had a net margin of 6.51% and a return on equity of 9.74%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.75 EPS. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, equities research analysts anticipate that Workday will post 2.63 EPS for the current fiscal year.

Insider Transactions at Workday

In other news, CAO Mark S. Garfield sold 451 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $234.86, for a total value of $105,921.86. Following the sale, the chief accounting officer owned 42,977 shares in the company, valued at $10,093,578.22. This represents a 1.04% decrease in their ownership of the stock. The transaction 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 78,564 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $220.12, for a total transaction of $17,293,507.68. Following the completion of the sale, the insider owned 102,997 shares in the company, valued at $22,671,699.64. The trade was a 43.27% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 326,864 shares of company stock valued at $76,391,858. 19.31% of the stock is owned by corporate insiders.

Institutional Trading of Workday

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rakuten Securities Inc. acquired a new stake in Workday during the second quarter valued at $25,000. Cornerstone Planning Group LLC grew its position in Workday by 76.1% during the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker’s stock valued at $28,000 after buying an additional 54 shares during the period. Berbice Capital Management LLC grew its position in Workday by 136.4% during the second quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock valued at $31,000 after buying an additional 75 shares during the period. Dagco Inc. acquired a new stake in shares of Workday in the first quarter valued at about $31,000. Finally, Farmers & Merchants Investments Inc. acquired a new stake in shares of Workday in the first quarter valued at about $32,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

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 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.