Analysts Set Workday, Inc. (NASDAQ:WDAY) Price Target at $287.04

Shares of Workday, Inc. (NASDAQ:WDAY) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-seven brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and twenty have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $287.04.

WDAY has been the topic of several research analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $285.00 price objective on shares of Workday in a research note on Wednesday, September 18th. BMO Capital Markets reaffirmed an “outperform” rating and set a $300.00 price target on shares of Workday in a research report on Wednesday, September 18th. Bank of America increased their price target on Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. KeyCorp boosted their price objective on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Barclays upped their price objective on shares of Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a report on Friday, August 23rd.

Workday Stock Up 1.6 %

Workday stock opened at $240.94 on Tuesday. The firm has a market capitalization of $63.85 billion, a price-to-earnings ratio of 43.41, a price-to-earnings-growth ratio of 4.85 and a beta of 1.35. The firm’s fifty day moving average price is $240.03 and its two-hundred day moving average price is $240.75. Workday has a 1-year low of $199.81 and a 1-year high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36.

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

Insider Buying and Selling

In other news, insider Richard Harry Sauer sold 3,134 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $226.67, for a total transaction of $710,383.78. Following the transaction, the insider now directly owns 92,014 shares of the company’s stock, valued at $20,856,813.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder David A. Duffield sold 76,376 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $226.74, for a total value of $17,317,494.24. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $23,353,539.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Richard Harry Sauer sold 3,134 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $226.67, for a total value of $710,383.78. Following the completion of the sale, the insider now directly owns 92,014 shares in the company, valued at $20,856,813.38. The disclosure for this sale can be found here. Insiders have sold a total of 389,123 shares of company stock valued at $94,376,699 over the last three months. 20.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Workday

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Workday by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after purchasing an additional 324,540 shares in the last quarter. Sustainable Growth Advisers LP boosted its position in shares of Workday by 9.7% during the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after buying an additional 301,463 shares during the last quarter. Clearbridge Investments LLC increased its holdings in Workday by 12.4% in the 1st quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock worth $693,382,000 after buying an additional 281,207 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Workday by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after buying an additional 1,016,394 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Workday by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after acquiring an additional 118,180 shares during the period. Institutional investors own 89.81% of the company’s stock.

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.