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

Shares of Workday, Inc. (NASDAQ:WDAY) have earned a consensus recommendation of “Moderate Buy” from the thirty-four ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nineteen have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $199.7097.

WDAY has been the topic of several recent analyst reports. Barclays dropped their price objective on Workday from $230.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. KeyCorp dropped their price target on shares of Workday from $260.00 to $155.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. TD Cowen lowered shares of Workday from a “buy” rating to a “hold” rating and set a $155.00 price target for the company. in a research note on Wednesday, February 25th. Robert W. Baird set a $195.00 price objective on shares of Workday in a research report on Tuesday, February 24th. Finally, UBS Group dropped their target price on shares of Workday from $170.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th.

Insider Activity

In related news, insider Robert Enslin sold 22,185 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $210.17, for a total transaction of $4,662,621.45. Following the completion of the sale, the insider owned 106,330 shares in the company, valued at approximately $22,347,376.10. This represents a 17.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $208.75, for a total value of $1,252,500.00. Following the completion of the transaction, the chief financial officer directly owned 159,158 shares in the company, valued at approximately $33,224,232.50. This represents a 3.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 872,536 shares of company stock valued at $127,901,692 in the last ninety days. 19.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Workday

Several hedge funds and other institutional investors have recently made changes to their positions in WDAY. Rakuten Securities Inc. purchased a new position in shares of Workday in the second quarter worth approximately $25,000. Measured Wealth Private Client Group LLC purchased a new stake in Workday during the third quarter valued at approximately $26,000. DT Investment Partners LLC bought a new position in Workday in the fourth quarter worth approximately $27,000. LRI Investments LLC bought a new position in Workday in the fourth quarter worth approximately $29,000. Finally, JPL Wealth Management LLC purchased a new position in shares of Workday during the 3rd quarter worth $30,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Price Performance

Shares of NASDAQ WDAY opened at $132.26 on Friday. Workday has a twelve month low of $117.76 and a twelve month high of $276.00. The firm has a market cap of $33.99 billion, a P/E ratio of 51.26, a PEG ratio of 1.28 and a beta of 1.14. The company has a 50 day moving average of $144.85 and a 200 day moving average of $195.96. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, beating the consensus estimate of $2.32 by $0.15. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.52 billion. Workday had a return on equity of 13.37% and a net margin of 7.26%.The company’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business posted $1.92 EPS. As a group, research analysts expect that Workday will post 2.63 EPS for the current fiscal year.

Workday Company Profile

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.