Workday (NASDAQ:WDAY) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Workday (NASDAQ:WDAY) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $315.00 price objective on the software maker’s stock.

Other analysts have also issued research reports about the company. UBS Group set a $304.00 price target on Workday in a report on Friday, August 22nd. JPMorgan Chase & Co. lowered their price target on Workday from $295.00 to $290.00 and set an “overweight” rating for the company in a report on Friday, August 22nd. Wells Fargo & Company lowered their price target on Workday from $325.00 to $300.00 and set an “overweight” rating for the company in a report on Monday, August 18th. Loop Capital lowered their price target on Workday from $285.00 to $250.00 and set a “hold” rating for the company in a report on Friday, May 23rd. Finally, Citigroup lowered their price target on Workday from $279.00 to $260.00 and set a “neutral” rating for the company in a report on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $287.83.

Workday Stock Up 7.2%

Shares of NASDAQ:WDAY opened at $234.88 on Wednesday. Workday has a 1 year low of $205.33 and a 1 year high of $294.00. The business has a 50 day simple moving average of $228.37 and a two-hundred day simple moving average of $238.27. The firm has a market capitalization of $62.71 billion, a PE ratio of 108.74, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.10 and a quick ratio of 2.10.

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. Workday had a return on equity of 9.74% and a net margin of 6.51%.The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the previous year, the business earned $1.75 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, equities analysts predict that Workday will post 2.63 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 78,564 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $220.12, for a total value of $17,293,507.68. Following the completion of the transaction, the insider owned 102,997 shares of the company’s stock, valued at $22,671,699.64. The trade was a 43.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mark S. Garfield sold 451 shares of the business’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $234.86, for a total transaction of $105,921.86. Following the completion of the transaction, the chief accounting officer directly owned 42,977 shares of the company’s stock, valued at $10,093,578.22. This trade represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 326,864 shares of company stock valued at $76,391,858 over the last ninety days. Company insiders own 19.31% of the company’s stock.

Hedge Funds Weigh In On Workday

Large investors have recently made changes to their positions in the business. Private Trust Co. NA lifted its holdings in shares of Workday by 15.2% in the first quarter. Private Trust Co. NA now owns 318 shares of the software maker’s stock valued at $74,000 after purchasing an additional 42 shares in the last quarter. Salvus Wealth Management LLC lifted its stake in shares of Workday by 2.8% during the first quarter. Salvus Wealth Management LLC now owns 1,658 shares of the software maker’s stock valued at $387,000 after buying an additional 45 shares during the period. Verdence Capital Advisors LLC lifted its stake in shares of Workday by 1.0% during the second quarter. Verdence Capital Advisors LLC now owns 4,381 shares of the software maker’s stock valued at $1,051,000 after buying an additional 45 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Workday by 15.0% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 353 shares of the software maker’s stock valued at $82,000 after buying an additional 46 shares during the period. Finally, AE Wealth Management LLC lifted its stake in shares of Workday by 0.4% during the first quarter. AE Wealth Management LLC now owns 11,896 shares of the software maker’s stock valued at $2,778,000 after buying an additional 46 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

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.