Workday (NASDAQ:WDAY) Upgraded at Zacks Research

Zacks Research upgraded shares of Workday (NASDAQ:WDAY) from a hold rating to a strong-buy rating in a report published on Thursday morning,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Evercore ISI raised their target price on shares of Workday from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Wednesday. Guggenheim upgraded shares of Workday from a “neutral” rating to a “buy” rating and set a $285.00 price target on the stock in a research report on Wednesday. Canaccord Genuity Group reduced their price target on shares of Workday from $330.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, August 22nd. Finally, DA Davidson lifted their target price on shares of Workday from $225.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday. Three analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $287.83.

Workday Trading Up 0.1%

Shares of Workday stock opened at $233.62 on Thursday. Workday has a 12-month low of $205.33 and a 12-month high of $294.00. The company has a market cap of $62.38 billion, a price-to-earnings ratio of 108.16, a PEG ratio of 3.08 and a beta of 1.12. 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 company’s 50-day moving average price is $228.66 and its 200-day moving average price is $237.84.

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

Insider Transactions at Workday

In other news, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $239.59, for a total value of $1,437,540.00. Following the completion of the transaction, the chief financial officer owned 178,418 shares of the company’s stock, valued at $42,747,168.62. The trade was a 3.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark S. Garfield sold 451 shares of Workday stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $234.86, for a total value 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 approximately $10,093,578.22. This represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 328,024 shares of company stock worth $76,664,934 over the last quarter. Corporate insiders own 19.31% of the company’s stock.

Hedge Funds Weigh In On Workday

A number of hedge funds have recently bought and sold shares of the business. Nuveen LLC purchased a new stake in shares of Workday during the 1st quarter valued at about $456,341,000. Norges Bank bought a new position in Workday in the 2nd quarter worth approximately $442,702,000. T. Rowe Price Investment Management Inc. boosted its stake in Workday by 47.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker’s stock worth $879,147,000 after purchasing an additional 1,211,659 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in Workday by 35.6% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 3,479,105 shares of the software maker’s stock worth $812,475,000 after purchasing an additional 913,613 shares during the period. Finally, Generation Investment Management LLP boosted its position in shares of Workday by 36.6% during the 1st quarter. Generation Investment Management LLP now owns 2,903,767 shares of the software maker’s stock valued at $678,117,000 after acquiring an additional 778,301 shares during the last quarter. Hedge funds and other institutional investors 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.