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

Shares of Workday, Inc. (NASDAQ:WDAY) have been assigned an average recommendation of “Moderate Buy” from the twenty-eight research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and twenty-one have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $293.61.

Several research firms have commented on WDAY. Wells Fargo & Company raised their price objective on Workday from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. TheStreet upgraded Workday from a “c” rating to a “b-” rating in a report on Monday, February 26th. JPMorgan Chase & Co. increased their target price on shares of Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Needham & Company LLC boosted their price target on shares of Workday from $300.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research report on Tuesday, February 27th.

Workday Trading Up 0.1 %

NASDAQ WDAY opened at $268.61 on Tuesday. The stock has a market cap of $70.91 billion, a PE ratio of 52.16, a PEG ratio of 6.70 and a beta of 1.32. Workday has a 12 month low of $174.25 and a 12 month high of $311.28. The company’s 50-day moving average price is $284.20 and its 200-day moving average price is $260.38. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY) last issued its earnings results on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. Workday had a net margin of 19.02% and a return on equity of 4.87%. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the prior year, the firm earned ($0.14) EPS. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. Equities research analysts forecast that Workday will post 1.76 earnings per share for the current year.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 64,329 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $27,690,743.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder David A. Duffield sold 64,329 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $268.85, for a total value of $17,294,851.65. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $27,690,743.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 63,448 shares of Workday stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $277.13, for a total value of $17,583,344.24. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $28,543,558.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 376,202 shares of company stock worth $103,358,281. Company insiders own 21.09% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. SkyView Investment Advisors LLC purchased a new position in shares of Workday during the 2nd quarter valued at about $66,000. Beacon Capital Management LLC raised its position in Workday by 333.3% during the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after acquiring an additional 70 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Workday by 1,750.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after acquiring an additional 105 shares during the period. CVA Family Office LLC purchased a new stake in Workday in the 4th quarter worth approximately $33,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Workday in the 1st quarter worth approximately $25,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

About Workday

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.