Workday (NASDAQ:WDAY) Earns Market Outperform Rating from JMP Securities

Workday (NASDAQ:WDAY)‘s stock had its “market outperform” rating reissued by research analysts at JMP Securities in a report released on Thursday, Benzinga reports. They presently have a $315.00 price objective on the software maker’s stock. JMP Securities’ price objective would indicate a potential upside of 25.52% from the stock’s current price.

WDAY has been the subject of several other reports. Guggenheim restated a “sell” rating and issued a $190.00 price objective on shares of Workday in a report on Tuesday, June 25th. Royal Bank of Canada lowered their price objective on shares of Workday from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, May 24th. Canaccord Genuity Group restated a “buy” rating and issued a $300.00 price objective on shares of Workday in a report on Friday, September 13th. Loop Capital raised their price objective on shares of Workday from $240.00 to $255.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Finally, Piper Sandler restated an “overweight” rating and issued a $285.00 price objective on shares of Workday in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, Workday has an average rating of “Moderate Buy” and an average target price of $286.48.

Workday Trading Up 1.0 %

Shares of NASDAQ WDAY traded up $2.49 during trading hours on Thursday, hitting $250.96. The company’s stock had a trading volume of 1,195,907 shares, compared to its average volume of 2,193,452. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a market cap of $66.50 billion, a price-to-earnings ratio of 45.20, a P/E/G ratio of 5.07 and a beta of 1.35. Workday has a 12 month low of $199.81 and a 12 month high of $311.28. The business has a 50-day simple moving average of $236.71 and a 200-day simple moving average of $242.43.

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, topping the consensus estimate of $1.65 by $0.10. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. Workday’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the firm earned $0.40 earnings per share. On average, analysts anticipate that Workday will post 2.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $255.45, for a total value of $1,915,875.00. Following the completion of the sale, the director now owns 90,000 shares of the company’s stock, valued at approximately $22,990,500. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the sale, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $22,990,500. The disclosure for this sale can be found here. In the last quarter, insiders sold 466,402 shares of company stock valued at $107,992,034. Company insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

A number of hedge funds have recently modified their holdings of the business. Carolinas Wealth Consulting LLC grew its position in shares of Workday by 9.7% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock valued at $106,000 after acquiring an additional 34 shares during the period. Congress Wealth Management LLC DE lifted its stake in shares of Workday by 2.4% during the 4th quarter. Congress Wealth Management LLC DE now owns 1,658 shares of the software maker’s stock valued at $458,000 after buying an additional 39 shares in the last quarter. Raleigh Capital Management Inc. lifted its stake in shares of Workday by 4.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 869 shares of the software maker’s stock valued at $240,000 after buying an additional 39 shares in the last quarter. Hudson Value Partners LLC lifted its stake in shares of Workday by 0.8% during the 4th quarter. Hudson Value Partners LLC now owns 5,135 shares of the software maker’s stock valued at $1,418,000 after buying an additional 40 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its stake in shares of Workday by 3.5% during the 4th quarter. D.A. Davidson & CO. now owns 1,241 shares of the software maker’s stock valued at $343,000 after buying an additional 42 shares in the last quarter. 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.