Brokerages Set Workday, Inc. (NASDAQ:WDAY) PT at $282.11

Workday, Inc. (NASDAQ:WDAY) has been given an average recommendation of “Moderate Buy” by the twenty-seven analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and twenty have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $282.11.

WDAY has been the subject of a number of research reports. The Goldman Sachs Group dropped their price objective on Workday from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Robert W. Baird decreased their target price on Workday from $316.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, May 24th. DA Davidson decreased their target price on Workday from $300.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 24th. KeyCorp decreased their target price on Workday from $330.00 to $275.00 and set an “overweight” rating for the company in a report on Friday, May 24th. Finally, Citigroup decreased their target price on Workday from $293.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 24th.

Insider Activity

In related news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $218.58, for a total value of $12,240,480.00. Following the transaction, the insider now owns 730,000 shares in the company, valued at approximately $159,563,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $214.44, for a total value of $669,267.24. Following the transaction, the insider now owns 204,066 shares in the company, valued at approximately $43,759,913.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $218.58, for a total value of $12,240,480.00. Following the completion of the transaction, the insider now owns 730,000 shares in the company, valued at approximately $159,563,400. The disclosure for this sale can be found here. In the last three months, insiders sold 448,713 shares of company stock valued at $109,278,793. Insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

Several institutional investors and hedge funds have recently added to or reduced their stakes in WDAY. Norges Bank acquired a new position in Workday during the 4th quarter worth approximately $1,491,149,000. Wellington Management Group LLP increased its position in Workday by 37.4% during the 3rd quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock worth $1,109,348,000 after purchasing an additional 1,406,153 shares during the period. Winslow Capital Management LLC increased its position in Workday by 76.4% during the 3rd quarter. Winslow Capital Management LLC now owns 2,310,619 shares of the software maker’s stock worth $496,436,000 after purchasing an additional 1,000,922 shares during the period. Morgan Stanley increased its position in Workday by 47.0% during the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock worth $586,021,000 after purchasing an additional 872,288 shares during the period. Finally, Alkeon Capital Management LLC acquired a new position in Workday during the 3rd quarter worth approximately $107,425,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Trading Down 0.6 %

Shares of NASDAQ WDAY opened at $217.38 on Friday. Workday has a twelve month low of $202.01 and a twelve month high of $311.28. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $234.52 and a 200-day simple moving average of $264.38. The stock has a market capitalization of $57.61 billion, a PE ratio of 39.17, a PEG ratio of 5.53 and a beta of 1.33.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. Workday had a return on equity of 5.78% and a net margin of 19.66%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the previous year, the firm posted $0.16 earnings per share. The company’s revenue was up 18.1% on a year-over-year basis. On average, equities analysts forecast that Workday will post 2.12 earnings per share for the current year.

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.