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

Shares of Workday, Inc. (NASDAQ:WDAY) have received an average recommendation of “Moderate Buy” from the twenty-eight brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $289.46.

Several equities research analysts have recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research report on Thursday, September 19th. Stifel Nicolaus lifted their price target on shares of Workday from $250.00 to $270.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Needham & Company LLC restated a “buy” rating and set a $300.00 price objective on shares of Workday in a research report on Monday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $285.00 target price on shares of Workday in a research report on Wednesday, September 18th.

Insider Activity

In other news, Director Wayne A.I. Frederick sold 1,828 shares of Workday stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the sale, the director now owns 8,674 shares of the company’s stock, valued at approximately $2,097,806.90. The trade was a 17.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $26,902,816.40. The trade was a 39.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 359,954 shares of company stock valued at $88,742,132. 20.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Workday

Institutional investors and hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. increased its stake in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after buying an additional 43 shares during the period. Kingsview Wealth Management LLC increased its position in Workday by 0.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock valued at $1,243,000 after purchasing an additional 43 shares during the period. Diversified Trust Co increased its position in Workday by 1.0% during the 2nd quarter. Diversified Trust Co now owns 4,830 shares of the software maker’s stock valued at $1,080,000 after purchasing an additional 47 shares during the period. Opal Wealth Advisors LLC raised its holdings in shares of Workday by 5.2% in the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock valued at $231,000 after purchasing an additional 47 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. lifted its position in shares of Workday by 3.4% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock worth $324,000 after purchasing an additional 48 shares during the period. 89.81% of the stock is owned by institutional investors.

Workday Trading Up 0.9 %

Shares of WDAY stock opened at $270.19 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a fifty day simple moving average of $248.52 and a two-hundred day simple moving average of $237.21. The firm has a market capitalization of $71.60 billion, a PE ratio of 47.07, a PEG ratio of 5.31 and a beta of 1.35. Workday has a 52-week low of $199.81 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the business posted $0.47 earnings per share. The firm’s revenue was up 15.8% on a year-over-year basis. On average, analysts predict that Workday will post 2.4 EPS for the current fiscal year.

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.