Brokerages Set Workday, Inc. (NASDAQ:WDAY) PT at $290.64

Workday, Inc. (NASDAQ:WDAY) has received a consensus rating of “Moderate Buy” from the twenty-eight analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and twenty have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $291.36.

A number of brokerages have weighed in on WDAY. Citigroup lowered their price target on Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 target price on shares of Workday in a report on Thursday, September 19th. Barclays dropped their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Piper Sandler restated a “neutral” rating and issued a $270.00 price target (down from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Workday in a report on Tuesday, December 3rd.

Insider Transactions at Workday

In other Workday news, insider Richard Harry Sauer sold 3,134 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the completion of the sale, the insider now directly owns 85,795 shares in the company, valued at $20,228,745.10. This represents a 3.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 70,003 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the sale, the insider now owns 102,997 shares in the company, valued at $25,872,846.40. This trade represents a 40.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 304,463 shares of company stock worth $74,309,458. 20.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Workday

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in shares of Workday in the third quarter valued at about $26,000. SouthState Corp raised its position in Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after buying an additional 129 shares during the last quarter. Crewe Advisors LLC lifted its stake in Workday by 56.6% in the 2nd quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock valued at $35,000 after acquiring an additional 56 shares in the last quarter. Goodman Advisory Group LLC acquired a new position in Workday during the 2nd quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. grew its stake in shares of Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Price Performance

NASDAQ:WDAY opened at $266.83 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The company has a 50-day moving average of $256.36 and a 200-day moving average of $240.45. Workday has a 52 week low of $199.81 and a 52 week high of $311.28. The company has a market capitalization of $70.98 billion, a price-to-earnings ratio of 44.25, a PEG ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the company earned $0.47 earnings per share. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Workday will post 2.58 earnings per share 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.