Analysts’ Weekly Ratings Changes for Workday (WDAY)

A number of firms have modified their ratings and price targets on shares of Workday (NASDAQ: WDAY) recently:

• 9/19/2024 – Workday had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $315.00 price target on the stock.
• 9/19/2024 – Workday had its price target raised by analysts at The Goldman Sachs Group, Inc. from $300.00 to $305.00. They now have a “buy” rating on the stock.
• 9/18/2024 – Workday had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $285.00 price target on the stock.
• 9/18/2024 – Workday had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $300.00 price target on the stock.
• 9/18/2024 – Workday had its price target lowered by analysts at Needham & Company LLC from $350.00 to $300.00. They now have a “buy” rating on the stock.
• 9/13/2024 – Workday had its “buy” rating reaffirmed by analysts at Canaccord Genuity Group Inc.. They now have a $300.00 price target on the stock.
• 8/23/2024 – Workday had its price target raised by analysts at Wells Fargo & Company from $260.00 to $300.00. They now have an “overweight” rating on the stock.
• 8/23/2024 – Workday had its price target raised by analysts at KeyCorp from $275.00 to $305.00. They now have an “overweight” rating on the stock.
• 8/23/2024 – Workday had its price target raised by analysts at Barclays PLC from $286.00 to $289.00. They now have an “overweight” rating on the stock.
• 8/23/2024 – Workday had its price target raised by analysts at Piper Sandler from $262.00 to $285.00. They now have an “overweight” rating on the stock.
• 8/23/2024 – Workday had its price target lowered by analysts at Morgan Stanley from $325.00 to $315.00. They now have an “overweight” rating on the stock.
• 8/23/2024 – Workday had its price target raised by analysts at DA Davidson from $255.00 to $270.00. They now have a “neutral” rating on the stock.
• 8/23/2024 – Workday had its price target raised by analysts at Loop Capital from $240.00 to $255.00. They now have a “hold” rating on the stock.
• 8/23/2024 – Workday had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $265.00 to $275.00. They now have a “hold” rating on the stock.
• 8/23/2024 – Workday had its price target raised by analysts at Stifel Nicolaus from $250.00 to $270.00. They now have a “hold” rating on the stock.
• 8/23/2024 – Workday had its price target raised by analysts at Canaccord Genuity Group Inc. from $270.00 to $300.00. They now have a “buy” rating on the stock.
• 8/23/2024 – Workday had its price target raised by analysts at Bank of America Co. from $265.00 to $310.00. They now have a “buy” rating on the stock.
• 8/23/2024 – Workday had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $350.00 price target on the stock.
• 8/20/2024 – Workday had its price target lowered by analysts at Evercore ISI from $300.00 to $290.00. They now have an “outperform” rating on the stock.
• 8/15/2024 – Workday had its price target lowered by analysts at Bank of America Co. from $275.00 to $265.00. They now have a “buy” rating on the stock.
• 8/14/2024 – Workday had its price target lowered by analysts at Wells Fargo & Company from $275.00 to $260.00. They now have an “overweight” rating on the stock.

Workday Price Performance

NASDAQ WDAY opened at $248.29 on Monday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The business’s fifty day moving average is $237.48 and its two-hundred day moving average is $241.95. The stock has a market capitalization of $65.80 billion, a P/E ratio of 44.74, a P/E/G ratio of 5.07 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period last year, the firm posted $0.40 earnings per share. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. On average, research analysts forecast that Workday, Inc. will post 2.39 earnings per share for the current fiscal year.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $223.80, for a total value of $12,532,800.00. Following the completion of the sale, the insider now owns 674,000 shares in the company, valued at approximately $150,841,200. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder David A. Duffield sold 78,279 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $223.89, for a total value of $17,525,885.31. Following the transaction, the insider now owns 102,997 shares in the company, valued at $23,059,998.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $223.80, for a total transaction of $12,532,800.00. Following the completion of the sale, the insider now owns 674,000 shares of the company’s stock, valued at $150,841,200. The disclosure for this sale can be found here. Insiders have sold 467,402 shares of company stock worth $109,864,184 in the last 90 days. Company insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Crewe Advisors LLC bought a new stake in Workday during the first quarter valued at about $27,000. Sound Income Strategies LLC grew its holdings in Workday by 74.2% in the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after buying an additional 49 shares during the last quarter. SouthState Corp increased its position in Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after buying an additional 129 shares during the period. Pacific Center for Financial Services lifted its holdings in shares of Workday by 57.0% during the first quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock worth $43,000 after buying an additional 57 shares during the last quarter. Finally, Goodman Advisory Group LLC bought a new stake in shares of Workday in the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

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.