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

Workday, Inc. (NASDAQ:WDAY) has received a consensus recommendation of “Moderate Buy” from the twenty-eight brokerages that are presently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $292.25.

A number of research firms recently weighed in on WDAY. BMO Capital Markets restated an “outperform” rating and issued a $300.00 price target on shares of Workday in a research note on Wednesday, September 18th. Morgan Stanley upped their target price on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Oppenheimer reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Workday in a research note on Tuesday, December 3rd. Scotiabank initiated coverage on Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price target for the company. Finally, Bank of America lowered their target price on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, November 27th.

Workday Stock Up 2.0 %

Shares of NASDAQ WDAY opened at $254.69 on Thursday. The business has a 50-day moving average price of $261.93 and a 200 day moving average price of $245.44. The stock has a market cap of $67.75 billion, a PE ratio of 42.24, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34. Workday has a 52-week low of $199.81 and a 52-week high of $311.28. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

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

Insider Activity at Workday

In related news, Director Wayne A.I. Frederick sold 1,828 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the sale, the director now owns 8,674 shares of the company’s stock, valued at $2,097,806.90. This represents a 17.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the sale, the chief executive officer now directly owns 13,972 shares in the company, valued at approximately $3,546,931.92. This trade represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 370,085 shares of company stock valued at $95,380,557 over the last three months. 20.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC lifted its position in Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after purchasing an additional 480,459 shares during the period. State Street Corp lifted its stake in Workday by 1.4% in the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after acquiring an additional 67,380 shares in the last quarter. Geode Capital Management LLC lifted its position in Workday by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after buying an additional 76,618 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Workday by 0.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after purchasing an additional 14,159 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Workday by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock worth $482,133,000 after acquiring an additional 75,747 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

About Workday

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.