Workday (NASDAQ:WDAY) Research Coverage Started at Scotiabank

Scotiabank started coverage on shares of Workday (NASDAQ:WDAY) in a report issued on Monday, Marketbeat Ratings reports. The firm issued a sector outperform rating and a $340.00 price target on the software maker’s stock.

Several other equities analysts have also recently weighed in on the company. Bank of America boosted their price objective on Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Citigroup reduced their price objective on Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. KeyCorp raised their price objective on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Stifel Nicolaus increased their price target on shares of Workday from $250.00 to $270.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, JMP Securities restated a “market outperform” rating and set a $315.00 price objective on shares of Workday in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $289.46.

Workday Trading Down 0.2 %

Shares of NASDAQ:WDAY opened at $259.44 on Monday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $68.75 billion, a PE ratio of 45.20, a P/E/G ratio of 5.15 and a beta of 1.35. Workday has a 1 year low of $199.81 and a 1 year high of $311.28. The firm has a fifty day moving average price of $247.02 and a 200 day moving average price of $236.73.

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, 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 for the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the business posted $0.40 EPS. Workday’s revenue was up 16.5% compared to the same quarter last year. Analysts expect that Workday will post 2.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 102,997 shares in the company, valued at $26,902,816.40. The trade was a 39.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 transaction, the director now owns 97,500 shares in the company, valued at $25,381,200. The trade was a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 370,575 shares of company stock valued at $91,506,897. 20.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Workday

Several institutional investors and hedge funds have recently added to or reduced their stakes in WDAY. ORG Partners LLC lifted its holdings in Workday by 3,717.9% in the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after buying an additional 3,123 shares during the period. Grafton Street Partners Fund LP acquired a new stake in shares of Workday during the third quarter worth $4,424,000. ICICI Prudential Asset Management Co Ltd increased its holdings in Workday by 32.4% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after purchasing an additional 7,802 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Workday by 42.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 13,380 shares of the software maker’s stock valued at $3,649,000 after buying an additional 3,965 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Workday by 7.4% during the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after buying an additional 118,180 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

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.