Workday (NASDAQ:WDAY) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Workday (NASDAQ:WDAY) in a research report report published on Thursday,Benzinga reports. They currently have a $300.00 price target on the software maker’s stock.

A number of other equities research analysts have also recently weighed in on WDAY. Morgan Stanley lifted their price target on shares of Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Royal Bank of Canada lifted their target price on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Citigroup decreased their price target on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Piper Sandler reaffirmed a “neutral” rating and issued a $270.00 price objective (down from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Finally, Guggenheim raised Workday from a “sell” rating to a “neutral” rating in a research note on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $292.43.

Workday Stock Up 0.6 %

WDAY stock opened at $277.82 on Thursday. The firm has a market cap of $73.90 billion, a PE ratio of 46.07, a PEG ratio of 4.73 and a beta of 1.35. Workday has a one year low of $199.81 and a one year high of $311.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The firm’s 50 day moving average price is $261.15 and its 200-day moving average price is $249.72.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.47 earnings per share. On average, equities research analysts anticipate that Workday will post 2.63 EPS for the current year.

Insider Activity at Workday

In other news, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the sale, the chief executive officer now owns 13,972 shares in the company, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder David A. Duffield sold 70,003 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $251.20, for a total value of $17,584,753.60. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $25,872,846.40. This trade represents a 40.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock valued at $113,142,592 over the last ninety days. Insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Several institutional investors and hedge funds have recently bought and sold shares of WDAY. Marcum Wealth LLC grew its position in Workday by 4.4% during the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock worth $249,000 after purchasing an additional 41 shares during the last quarter. Custom Index Systems LLC grew its holdings in shares of Workday by 3.0% during the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after buying an additional 41 shares during the last quarter. Meeder Asset Management Inc. increased its position in Workday by 42.2% in 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 during the period. Kingsview Wealth Management LLC raised its stake 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 acquiring an additional 43 shares during the last quarter. Finally, Opal Wealth Advisors LLC lifted its position in Workday by 5.2% during the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after acquiring an additional 47 shares during the period. 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.