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

Workday, Inc. (NASDAQ:WDAY) has received an average rating of “Moderate Buy” from the twenty-seven research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and twenty have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $287.04.

A number of brokerages have issued reports on WDAY. Bank of America upped their target price on Workday from $265.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Canaccord Genuity Group reiterated a “buy” rating and set a $300.00 price objective on shares of Workday in a research note on Friday, September 13th. Citigroup decreased their price objective on shares of Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Morgan Stanley cut their target price on shares of Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $300.00 price target on shares of Workday in a research note on Wednesday, September 18th.

Workday Trading Up 0.6 %

Shares of WDAY stock opened at $242.35 on Tuesday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The firm’s 50 day moving average price is $240.30 and its two-hundred day moving average price is $240.31. The stock has a market cap of $64.22 billion, a price-to-earnings ratio of 43.67, a price-to-earnings-growth ratio of 4.71 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 earnings per share. On average, analysts anticipate that Workday will post 2.4 EPS for the current year.

Insider Buying and Selling at Workday

In other news, insider Richard Harry Sauer sold 3,134 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $226.67, for a total transaction of $710,383.78. Following the completion of the sale, the insider now directly owns 92,014 shares in the company, valued at $20,856,813.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Workday news, insider Richard Harry Sauer sold 3,134 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $226.67, for a total transaction of $710,383.78. Following the transaction, the insider now directly owns 92,014 shares in the company, valued at approximately $20,856,813.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $242.96, for a total transaction of $13,605,760.00. Following the transaction, the insider now directly owns 393,000 shares in the company, valued at approximately $95,483,280. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 389,123 shares of company stock worth $94,376,699. Insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raleigh Capital Management Inc. raised its position in Workday by 4.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 869 shares of the software maker’s stock worth $240,000 after acquiring an additional 39 shares during the period. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Workday by 4.4% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,031 shares of the software maker’s stock worth $281,000 after purchasing an additional 43 shares during the period. Diversified Trust Co lifted its stake in Workday by 1.0% in the second 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 last quarter. Mesirow Financial Investment Management Inc. grew its holdings in Workday by 3.4% during the second quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock valued at $324,000 after purchasing an additional 48 shares during the period. Finally, Sound Income Strategies LLC increased its position in Workday by 74.2% in the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after buying an additional 49 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

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.