Workday (NASDAQ:WDAY) Given Market Outperform Rating at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Workday (NASDAQ:WDAY) in a research report released on Thursday, Benzinga reports. They currently have a $315.00 target price on the software maker’s stock.

Several other equities analysts have also weighed in on WDAY. Needham & Company LLC cut their price objective on shares of Workday from $350.00 to $300.00 and set a buy rating on the stock in a report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on Workday from $265.00 to $275.00 and gave the stock a hold rating in a research note on Friday, August 23rd. Barclays upped their price objective on Workday from $286.00 to $289.00 and gave the company an overweight rating in a report on Friday, August 23rd. Sanford C. Bernstein reduced their target price on Workday from $321.00 to $301.00 and set an outperform rating on the stock in a report on Friday, May 24th. Finally, Loop Capital upped their price target on Workday from $240.00 to $255.00 and gave the company a hold rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, Workday presently has an average rating of Moderate Buy and an average price target of $286.48.

Workday Stock Up 0.3 %

Shares of WDAY opened at $248.29 on Thursday. The business’s fifty day moving average price is $237.48 and its two-hundred day moving average price is $241.95. The firm has a market capitalization of $65.80 billion, a price-to-earnings ratio of 44.74, a PEG ratio of 5.07 and a beta of 1.35. Workday has a 52 week low of $199.81 and a 52 week high of $311.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the company earned $0.40 earnings per share. The company’s revenue was up 16.5% on a year-over-year basis. On average, analysts predict that Workday will post 2.39 earnings per share for the current year.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $223.80, for a total value of $12,532,800.00. Following the completion of the transaction, the insider now directly owns 674,000 shares of the company’s stock, valued at $150,841,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $26,902,816.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 467,402 shares of company stock valued at $109,864,184. Corporate insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WDAY. Crewe Advisors LLC acquired a new stake in Workday in the 1st quarter valued at about $27,000. Sound Income Strategies LLC boosted its stake in shares of Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after acquiring an additional 49 shares during the period. SouthState Corp increased its holdings in shares of Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after acquiring an additional 129 shares during the last quarter. Goodman Advisory Group LLC bought a new stake in Workday in the 2nd quarter valued at $35,000. Finally, Asset Dedication LLC acquired a new stake in Workday during the 2nd quarter valued at $36,000. 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.