Workday (NASDAQ:WDAY) Upgraded at StockNews.com

StockNews.com upgraded shares of Workday (NASDAQ:WDAY) from a hold rating to a buy rating in a report released on Monday.

A number of other brokerages have also weighed in on WDAY. JMP Securities restated a “market outperform” rating and set a $315.00 price target on shares of Workday in a research note on Thursday, September 19th. Needham & Company LLC restated a “buy” rating and issued a $300.00 target price on shares of Workday in a research note on Monday, November 25th. Citigroup dropped their price target on Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. Oppenheimer reaffirmed an “outperform” rating and set a $300.00 target price on shares of Workday in a report on Tuesday, December 3rd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $300.00 price target on shares of Workday in a report on Wednesday, September 18th. Seven analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and an average price target of $292.25.

Workday Stock Up 2.0 %

NASDAQ:WDAY opened at $254.69 on Monday. The stock has a fifty day simple moving average of $261.93 and a 200-day simple moving average of $245.44. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market cap of $67.75 billion, a price-to-earnings ratio of 42.24, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34. Workday has a twelve month low of $199.81 and a twelve month high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the company earned $0.47 EPS. The business’s revenue was up 15.8% compared to the same quarter last year. Analysts anticipate that Workday will post 2.58 EPS for the current year.

Insider Buying and Selling at Workday

In related news, Director Wayne A.I. Frederick sold 1,828 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $241.85, for a total transaction of $442,101.80. Following 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 filing with the Securities & Exchange Commission, which is available at this link. Also, insider Richard Harry Sauer sold 3,677 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $251.90, for a total value of $926,236.30. Following the completion of the sale, the insider now directly owns 79,576 shares in the company, valued at $20,045,194.40. This trade represents a 4.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 370,085 shares of company stock worth $95,380,557. 20.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Workday

Several hedge funds have recently made changes to their positions in WDAY. The Manufacturers Life Insurance Company grew its stake in shares of Workday by 79.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after buying an additional 1,016,394 shares during the period. Two Sigma Advisers LP raised its holdings in shares of Workday by 1,094.2% during the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after buying an additional 562,400 shares during the period. Janus Henderson Group PLC boosted its holdings in Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after acquiring an additional 480,459 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in Workday in the 3rd quarter worth approximately $78,003,000. Finally, D1 Capital Partners L.P. grew its position in Workday by 152.1% in the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock valued at $115,804,000 after acquiring an additional 312,500 shares in the last quarter. Institutional investors and hedge funds 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.