Workday, Inc. (NASDAQ:WDAY) Receives $290.64 Average Target Price from Analysts

Shares of Workday, Inc. (NASDAQ:WDAY) have been assigned an average recommendation of “Moderate Buy” from the twenty-eight brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and twenty have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $290.64.

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Piper Sandler restated a “neutral” rating and set a $270.00 target price (down from $285.00) on shares of Workday in a report on Wednesday, November 27th. Evercore ISI cut their price target on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. 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. Finally, Bank of America cut their target price on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $242.96, for a total value of $13,605,760.00. Following the sale, the insider now directly owns 393,000 shares in the company, valued at $95,483,280. This trade represents a 12.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wayne A.I. Frederick sold 1,828 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $241.85, for a total value of $442,101.80. Following the transaction, the director now directly owns 8,674 shares of the company’s stock, valued at approximately $2,097,806.90. This represents a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 304,463 shares of company stock worth $74,309,458. Corporate insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

Institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new stake in shares of Workday in the 3rd quarter valued at about $26,000. Meeder Asset Management Inc. boosted its holdings in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares during the period. True Wealth Design LLC grew its position in shares of Workday by 4,766.7% during the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after acquiring an additional 143 shares during the last quarter. New Millennium Group LLC grew its position in Workday by 177.4% during the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after purchasing an additional 94 shares during the last quarter. Finally, SouthState Corp grew its holdings in shares of Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after buying an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

NASDAQ WDAY opened at $278.01 on Friday. 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 stock’s 50 day simple moving average is $255.37 and its 200-day simple moving average is $240.06. The company has a market cap of $73.95 billion, a PE ratio of 46.10, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34. Workday has a 1-year low of $199.81 and a 1-year high of $311.28.

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