Workday (NASDAQ:WDAY) Upgraded to Buy at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Workday (NASDAQ:WDAY) from a hold rating to a buy rating in a research report report published on Wednesday morning, MarketBeat.com reports. They currently have $300.00 price objective on the software maker’s stock, up from their previous price objective of $265.00.

Several other equities analysts have also recently issued reports on the company. StockNews.com upgraded Workday from a “hold” rating to a “buy” rating in a research report on Monday, January 6th. Bank of America cut their price objective on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Scotiabank began coverage on Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price for the company. Mizuho upped their price target on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research note on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $292.25.

Workday Price Performance

Shares of NASDAQ WDAY opened at $249.71 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The company has a market cap of $66.42 billion, a PE ratio of 41.41, a P/E/G ratio of 5.04 and a beta of 1.34. The stock has a fifty day moving average price of $262.56 and a 200 day moving average price of $245.72. Workday has a 1-year low of $199.81 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the firm earned $0.47 earnings per share. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. Sell-side analysts forecast that Workday will post 2.58 EPS for the current year.

Insider Activity at Workday

In other news, insider Sayan Chakraborty sold 5,498 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the sale, the insider now directly owns 121,100 shares of the company’s stock, valued at $30,369,458. The trade was a 4.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total value of $15,692,670.00. Following the sale, the insider now owns 284,000 shares of the company’s stock, valued at approximately $78,188,040. The trade was a 16.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 438,347 shares of company stock worth $112,778,463. 20.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Workday

A number of institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its holdings in shares of Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares during the period. Kingsview Wealth Management LLC raised its holdings in Workday by 0.9% in the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock valued at $1,243,000 after buying an additional 43 shares during the period. Opal Wealth Advisors LLC lifted its position in Workday by 5.2% during the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock valued at $231,000 after buying an additional 47 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its position in Workday by 3.4% during the second quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock valued at $324,000 after buying an additional 48 shares in the last quarter. Finally, Fulton Bank N.A. grew its stake in Workday by 1.3% during the fourth quarter. Fulton Bank N.A. now owns 3,696 shares of the software maker’s stock worth $954,000 after buying an additional 48 shares during the period. Hedge funds and other 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.