Workday (NASDAQ:WDAY) Raised to “Strong-Buy” at Daiwa America

Workday (NASDAQ:WDAY) was upgraded by Daiwa America to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Piper Sandler raised their price target on shares of Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. KeyCorp raised their target price on Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and issued a $300.00 target price on shares of Workday in a research report on Wednesday, February 26th. Bank of America dropped their price target on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company lifted their price objective on Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $302.14.

Workday Stock Performance

NASDAQ WDAY opened at $259.61 on Tuesday. The firm’s 50 day simple moving average is $258.98 and its 200 day simple moving average is $255.49. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday has a 1 year low of $199.81 and a 1 year high of $294.00. The firm has a market capitalization of $69.06 billion, a price-to-earnings ratio of 43.05, a P/E/G ratio of 3.55 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. As a group, research analysts expect that Workday will post 2.63 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 70,090 shares of Workday stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $26,215,826.41. This trade represents a 40.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 435,829 shares of company stock valued at $113,033,319. Company insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Simplicity Wealth LLC raised its position in shares of Workday by 3.0% during the 4th quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock worth $330,000 after acquiring an additional 37 shares in the last quarter. Marcum Wealth LLC lifted its position in Workday by 4.4% in the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after purchasing an additional 41 shares during the period. Custom Index Systems LLC grew its stake in shares of Workday by 3.0% during the 4th quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after purchasing an additional 41 shares during the period. AllSquare Wealth Management LLC boosted its position in Workday by 19.4% during the fourth quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock worth $65,000 after purchasing an additional 41 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Company Profile

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.