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

Shares of Workday, Inc. (NASDAQ:WDAY) have received a consensus rating of “Moderate Buy” from the thirty-one research firms that are currently covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $300.36.

WDAY has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their target price on Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Oppenheimer boosted their price objective on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Redburn Atlantic initiated coverage on Workday in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. Citigroup cut their price target on shares of Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, BNP Paribas raised shares of Workday to a “strong-buy” rating in a research report on Friday, February 14th.

Workday Stock Performance

Shares of Workday stock opened at $238.49 on Tuesday. The business’s fifty day simple moving average is $256.67 and its 200-day simple moving average is $254.82. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market cap of $63.44 billion, a PE ratio of 39.55, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. Workday has a 52 week low of $199.81 and a 52 week high of $294.00.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Equities analysts forecast that Workday will post 2.63 earnings per share for the current year.

Insider Activity

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the transaction, the director now owns 75,000 shares of the company’s stock, valued at $18,099,750. The trade was a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were 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 owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 487,145 shares of company stock worth $123,289,438. Corporate insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Crews Bank & Trust acquired a new position in shares of Workday in the fourth quarter valued at approximately $26,000. Roxbury Financial LLC purchased a new position in Workday in the 4th quarter valued at $25,000. Avion Wealth increased its stake in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after buying an additional 86 shares during the period. TCTC Holdings LLC purchased a new position in Workday during the 4th quarter worth $35,000. Finally, True Wealth Design LLC lifted its stake in shares of Workday by 4,766.7% in the 3rd 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 period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.