Workday, Inc. (NASDAQ:WDAY) Given Average Rating of “Moderate Buy” by Brokerages

Workday, Inc. (NASDAQ:WDAY) has been assigned an average recommendation of “Moderate Buy” from the twenty-eight analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and twenty-one have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $293.61.

Several equities analysts have recently commented on the stock. Piper Sandler reissued an “overweight” rating and issued a $330.00 target price on shares of Workday in a report on Monday, February 26th. The Goldman Sachs Group lifted their target price on Workday from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. JMP Securities reissued a “market outperform” rating and set a $315.00 price target on shares of Workday in a research note on Tuesday, February 27th. KeyCorp raised their price target on Workday from $310.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Finally, Needham & Company LLC increased their target price on Workday from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th.

Workday Stock Up 2.0 %

WDAY opened at $255.78 on Friday. The stock has a market cap of $67.53 billion, a price-to-earnings ratio of 49.67, a price-to-earnings-growth ratio of 6.12 and a beta of 1.33. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. The firm’s fifty day moving average is $269.08 and its 200 day moving average is $264.57. Workday has a fifty-two week low of $174.25 and a fifty-two week high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.14) earnings per share. On average, sell-side analysts forecast that Workday will post 1.76 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $264.89, for a total value of $14,833,840.00. Following the completion of the transaction, the insider now directly owns 843,000 shares of the company’s stock, valued at approximately $223,302,270. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the completion of the sale, the insider now directly owns 843,000 shares in the company, valued at approximately $223,302,270. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the transaction, the insider now directly owns 165,932 shares of the company’s stock, valued at approximately $48,749,162.28. The disclosure for this sale can be found here. Insiders sold 435,691 shares of company stock valued at $117,731,569 over the last 90 days. Insiders own 21.09% of the company’s stock.

Institutional Investors Weigh In On Workday

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vontobel Holding Ltd. grew its position in Workday by 5.1% during the fourth quarter. Vontobel Holding Ltd. now owns 67,077 shares of the software maker’s stock valued at $18,517,000 after buying an additional 3,260 shares during the period. Morgan Stanley increased its stake in shares of Workday by 47.0% in the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after purchasing an additional 872,288 shares in the last quarter. QRG Capital Management Inc. acquired a new position in Workday in the 3rd quarter worth about $345,000. Assenagon Asset Management S.A. boosted its position in Workday by 58.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 278,569 shares of the software maker’s stock worth $76,902,000 after purchasing an additional 103,171 shares in the last quarter. Finally, Mariner LLC grew its holdings in Workday by 21.1% in the third quarter. Mariner LLC now owns 28,304 shares of the software maker’s stock valued at $6,081,000 after purchasing an additional 4,927 shares during the period. Institutional investors and hedge funds 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.