Oppenheimer Reiterates “Outperform” Rating for Workday (NASDAQ:WDAY)

Oppenheimer reissued their outperform rating on shares of Workday (NASDAQ:WDAY) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $300.00 price objective on the software maker’s stock.

Other analysts have also recently issued reports about the stock. JMP Securities reiterated a “market outperform” rating and issued a $315.00 target price on shares of Workday in a research note on Thursday, September 19th. BMO Capital Markets reissued an “outperform” rating and set a $300.00 price objective on shares of Workday in a research note on Wednesday, September 18th. Canaccord Genuity Group restated a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Friday, September 13th. DA Davidson lifted their price target on Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $270.00 target price (down from $285.00) on shares of Workday in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $288.14.

Workday Price Performance

Workday stock opened at $262.70 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. Workday has a one year low of $199.81 and a one year high of $311.28. The firm has a market capitalization of $69.62 billion, a P/E ratio of 43.57, a PEG ratio of 4.76 and a beta of 1.34. The business has a fifty day moving average price of $249.96 and a 200-day moving average price of $237.65.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.21% and a net margin of 19.86%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the company earned $0.47 EPS. The firm’s revenue was up 15.8% compared to the same quarter last year. As a group, equities research analysts forecast that Workday will post 2.57 EPS for the current year.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total transaction of $14,112,630.00. Following the sale, the insider now directly owns 505,000 shares in the company, valued at approximately $125,032,950. This trade represents a 10.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Richard Harry Sauer sold 3,134 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total transaction of $738,934.52. Following the transaction, the insider now owns 85,795 shares in the company, valued at $20,228,745.10. This represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 361,463 shares of company stock worth $88,422,088 over the last 90 days. 20.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Workday

Several institutional investors and hedge funds have recently bought and sold shares of the stock. ORG Partners LLC lifted its position in shares of Workday by 3,717.9% during the 2nd 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 in the last quarter. Grafton Street Partners Fund LP bought a new stake in Workday during the 3rd quarter worth approximately $4,424,000. ICICI Prudential Asset Management Co Ltd lifted its holdings in Workday by 32.4% during 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 in the last quarter. Legal & General Group Plc increased its stake in shares of Workday by 7.4% in the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after purchasing an additional 118,180 shares in the last quarter. Finally, Atria Investments Inc boosted its holdings in Workday by 19.3% in the 3rd quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock worth $10,833,000 after buying an additional 7,175 shares during the period. 89.81% of the stock is currently owned by hedge funds and other 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.