Citizens Jmp Reiterates Market Outperform Rating for Workday (NASDAQ:WDAY)

Workday (NASDAQ:WDAY)‘s stock had its “market outperform” rating reiterated by Citizens Jmp in a report issued on Wednesday,Benzinga reports. They currently have a $315.00 target price on the software maker’s stock. Citizens Jmp’s target price points to a potential upside of 46.28% from the company’s current price.

A number of other analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price on Workday from $330.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, August 22nd. Stifel Nicolaus cut their price objective on shares of Workday from $255.00 to $235.00 and set a “hold” rating for the company in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Workday in a research note on Wednesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $265.00 price target on shares of Workday in a research note on Wednesday, September 17th. Finally, Guggenheim upgraded shares of Workday from a “neutral” rating to a “buy” rating and set a $285.00 price target for the company in a report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $282.70.

Workday Stock Down 7.9%

Shares of NASDAQ WDAY opened at $215.34 on Wednesday. The stock has a market cap of $57.50 billion, a PE ratio of 90.48, a P/E/G ratio of 2.67 and a beta of 1.11. The company has a current ratio of 1.83, a quick ratio of 2.10 and a debt-to-equity ratio of 0.34. Workday has a 12-month low of $205.33 and a 12-month high of $294.00. The company has a 50-day moving average of $233.59 and a 200 day moving average of $236.32.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.15. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.42 billion. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business’s revenue was up 12.6% on a year-over-year basis. During the same period last year, the company posted $1.89 EPS. As a group, sell-side analysts predict that Workday will post 2.63 EPS for the current fiscal year.

Insider Transactions at Workday

In related news, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $232.62, for a total transaction of $1,395,720.00. Following the completion of the transaction, the chief financial officer directly owned 168,468 shares in the company, valued at $39,189,026.16. This trade represents a 3.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mark S. Garfield sold 1,915 shares of the company’s stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $238.96, for a total value of $457,608.40. Following the sale, the chief accounting officer directly owned 37,351 shares in the company, valued at $8,925,394.96. This represents a 4.88% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 264,933 shares of company stock worth $61,475,760. 19.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Workday

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC raised its holdings in Workday by 230.2% in the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after acquiring an additional 2,792 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Workday by 1.3% in the 1st quarter. Cetera Investment Advisers now owns 48,944 shares of the software maker’s stock valued at $11,430,000 after purchasing an additional 610 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Workday by 11.4% in the 1st quarter. LPL Financial LLC now owns 188,665 shares of the software maker’s stock valued at $43,693,000 after purchasing an additional 19,372 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in shares of Workday by 17.4% during the 1st quarter. Meeder Advisory Services Inc. now owns 5,318 shares of the software maker’s stock worth $1,242,000 after purchasing an additional 787 shares during the last quarter. Finally, TCTC Holdings LLC grew its stake in shares of Workday by 158.8% during the first quarter. TCTC Holdings LLC now owns 352 shares of the software maker’s stock worth $82,000 after purchasing an additional 216 shares in 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.