Workday, Inc. (NASDAQ:WDAY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Workday, Inc. (NASDAQ:WDAY) has received a consensus recommendation of “Moderate Buy” from the forty research firms that are currently covering the firm, MarketBeat.com reports. Thirteen equities research analysts have rated the stock with a hold recommendation, twenty-five have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $278.0938.

Several equities research analysts recently issued reports on WDAY shares. Cowen reiterated a “buy” rating on shares of Workday in a report on Wednesday, November 26th. DA Davidson lowered their price objective on Workday from $260.00 to $250.00 and set a “hold” rating for the company in a research report on Wednesday, November 26th. UBS Group set a $260.00 target price on shares of Workday in a report on Wednesday, November 26th. Zacks Research downgraded shares of Workday from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Finally, Oppenheimer restated an “outperform” rating on shares of Workday in a report on Wednesday, November 26th.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 82,884 shares of the stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $209.75, for a total value of $17,384,919.00. Following the transaction, the insider directly owned 105,049 shares in the company, valued at $22,034,027.75. This represents a 44.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gerrit S. Kazmaier sold 3,759 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $208.73, for a total value of $784,616.07. Following the sale, the insider directly owned 105,167 shares of the company’s stock, valued at approximately $21,951,507.91. This represents a 3.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 370,321 shares of company stock worth $78,866,401 over the last three months. Company insiders own 19.31% of the company’s stock.

Hedge Funds Weigh In On Workday

Large investors have recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of Workday by 230.2% during the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after acquiring an additional 2,792 shares during the period. Empowered Funds LLC boosted its holdings in Workday by 12.1% in the 1st quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock valued at $2,602,000 after purchasing an additional 1,206 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Workday by 211.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock worth $44,000 after purchasing an additional 127 shares during the period. Sivia Capital Partners LLC acquired a new position in Workday during the 2nd quarter worth approximately $281,000. Finally, Focus Financial Network Inc. raised its stake in shares of Workday by 3.9% during the 2nd quarter. Focus Financial Network Inc. now owns 2,065 shares of the software maker’s stock worth $496,000 after buying an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Trading Down 3.0%

Shares of WDAY stock opened at $186.86 on Monday. Workday has a 1-year low of $185.60 and a 1-year high of $283.68. The firm has a market cap of $49.14 billion, a PE ratio of 78.51, a price-to-earnings-growth ratio of 2.11 and a beta of 1.14. The company has a 50-day moving average of $216.41 and a two-hundred day moving average of $226.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, topping the consensus estimate of $2.17 by $0.15. The firm 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 for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.89 EPS. On average, analysts predict that Workday will post 2.63 EPS for the current year.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.