Workday, Inc. (NASDAQ:WDAY) Receives Average Recommendation of “Moderate Buy” from Analysts

Workday, Inc. (NASDAQ:WDAY) has earned a consensus recommendation of “Moderate Buy” from the twenty-seven analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and twenty have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $287.04.

Several research firms recently issued reports on WDAY. JMP Securities reiterated a “market outperform” rating and set a $315.00 target price on shares of Workday in a report on Thursday, September 19th. Canaccord Genuity Group reissued a “buy” rating and issued a $300.00 target price on shares of Workday in a research note on Friday, September 13th. Evercore ISI lowered their target price on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. The Goldman Sachs Group increased their price target on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Stifel Nicolaus upped their target price on shares of Workday from $250.00 to $270.00 and gave the company a “hold” rating in a report on Friday, August 23rd.

Insider Transactions at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the sale, the director now owns 97,500 shares in the company, valued at $25,381,200. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, major shareholder David A. Duffield sold 66,492 shares of Workday 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 transaction, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.32, for a total value of $1,952,400.00. Following the completion of the sale, the director now owns 97,500 shares of the company’s stock, valued at $25,381,200. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 370,575 shares of company stock worth $91,506,897. Corporate insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Crewe Advisors LLC bought a new position in Workday during the first quarter worth $27,000. Sound Income Strategies LLC grew its holdings in Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after acquiring an additional 49 shares during the period. SouthState Corp raised its position in shares of Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after acquiring an additional 129 shares in the last quarter. Goodman Advisory Group LLC acquired a new position in shares of Workday in the 2nd quarter valued at about $35,000. Finally, Asset Dedication LLC bought a new stake in shares of Workday during the 2nd quarter valued at about $36,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Stock Up 0.4 %

NASDAQ:WDAY opened at $237.71 on Friday. The stock has a 50-day simple moving average of $246.97 and a 200 day simple moving average of $237.48. Workday has a 52-week low of $199.81 and a 52-week high of $311.28. The company has a market cap of $62.99 billion, a PE ratio of 42.83, a PEG ratio of 4.90 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, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the firm earned $0.40 earnings per share. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, sell-side analysts expect that Workday will post 2.4 EPS for the current fiscal 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.