Workday (NASDAQ:WDAY) Receives Outperform Rating from BMO Capital Markets

BMO Capital Markets restated their outperform rating on shares of Workday (NASDAQ:WDAY) in a report issued on Wednesday, Benzinga reports. BMO Capital Markets currently has a $300.00 price objective on the software maker’s stock.

Other equities analysts have also recently issued research reports about the company. KeyCorp boosted their price target on Workday from $275.00 to $305.00 and gave the stock an overweight rating in a report on Friday, August 23rd. Citigroup lowered their price target on shares of Workday from $293.00 to $255.00 and set a neutral rating for the company in a report on Friday, May 24th. Morgan Stanley cut their price objective on Workday from $325.00 to $315.00 and set an overweight rating on the stock in a report on Friday, August 23rd. Stifel Nicolaus upped their target price on Workday from $250.00 to $270.00 and gave the stock a hold rating in a report on Friday, August 23rd. Finally, JMP Securities restated a market outperform rating and issued a $315.00 price target on shares of Workday in a research report on Friday, May 24th. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $286.30.

Workday Stock Up 0.1 %

Shares of WDAY opened at $248.47 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday has a 12 month low of $199.81 and a 12 month high of $311.28. The firm’s 50 day moving average is $236.71 and its 200-day moving average is $242.43. The stock has a market capitalization of $65.84 billion, a PE ratio of 44.77, a P/E/G ratio of 5.07 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the company earned $0.40 EPS. The company’s revenue was up 16.5% on a year-over-year basis. Equities research analysts forecast that Workday will post 2.39 EPS for the current year.

Insider Activity

In related news, major shareholder David A. Duffield sold 66,492 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,902,816.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the transaction, the insider now directly 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 Securities & Exchange Commission, which is available through this link. Also, major shareholder David A. Duffield sold 78,279 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $223.89, for a total value of $17,525,885.31. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $23,059,998.33. The disclosure for this sale can be found here. Insiders have sold 466,402 shares of company stock worth $107,992,034 over the last 90 days. 20.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Workday

Several hedge funds and other institutional investors have recently modified their holdings of WDAY. William Blair Investment Management LLC grew its holdings in Workday by 17.6% during the 1st quarter. William Blair Investment Management LLC now owns 32,442 shares of the software maker’s stock valued at $8,849,000 after buying an additional 4,865 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Workday by 9.9% in the 4th quarter. Assetmark Inc. now owns 21,414 shares of the software maker’s stock valued at $5,912,000 after acquiring an additional 1,933 shares in the last quarter. ORG Partners LLC boosted its position in shares of Workday by 3,717.9% during the 2nd quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after acquiring an additional 3,123 shares during the last quarter. Bornite Capital Management LP purchased a new position in shares of Workday during the fourth quarter worth about $34,508,000. Finally, Nordea Investment Management AB increased its holdings in shares of Workday by 3.0% in the 1st quarter. Nordea Investment Management AB now owns 468,915 shares of the software maker’s stock worth $128,851,000 after buying an additional 13,502 shares during 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.