Workday (NASDAQ:WDAY) Receives “Outperform” Rating from Oppenheimer

Oppenheimer restated their outperform rating on shares of Workday (NASDAQ:WDAY) in a research report released on Tuesday morning,Benzinga reports. They currently have a $300.00 target price on the software maker’s stock.

Other equities analysts also recently issued reports about the stock. Scotiabank assumed coverage on shares of Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price target on the stock. KeyCorp increased their target price on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Monday, November 25th. Evercore ISI reduced their price objective on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Finally, Bank of America decreased their target price on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $288.14.

Workday Trading Up 2.2 %

Shares of WDAY stock opened at $257.06 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The company has a market capitalization of $68.12 billion, a price-to-earnings ratio of 42.63, a PEG ratio of 4.66 and a beta of 1.34. Workday has a 52-week low of $199.81 and a 52-week high of $311.28. The company has a 50-day simple moving average of $249.10 and a two-hundred day simple moving average of $237.25.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 6.21% and a net margin of 19.86%. Workday’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 earnings per share. Research analysts anticipate that Workday will post 2.57 EPS for the current fiscal year.

Insider Activity

In other Workday news, Director Wayne A.I. Frederick sold 1,828 shares of Workday stock in a transaction that occurred on 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 $2,097,806.90. The trade was a 17.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $247.59, for a total value of $14,112,630.00. Following the sale, the insider now directly owns 505,000 shares of the company’s stock, valued at approximately $125,032,950. This trade represents a 10.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 298,960 shares of company stock worth $72,753,210. 20.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of Workday by 9.5% during the second quarter. GAMMA Investing LLC now owns 694 shares of the software maker’s stock valued at $155,000 after acquiring an additional 60 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Workday by 167.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 182 shares of the software maker’s stock valued at $41,000 after purchasing an additional 114 shares during the period. Park Avenue Securities LLC raised its position in Workday by 37.9% during the 2nd quarter. Park Avenue Securities LLC now owns 9,139 shares of the software maker’s stock valued at $2,043,000 after purchasing an additional 2,511 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its holdings in Workday by 42.5% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 6,970 shares of the software maker’s stock worth $1,558,000 after buying an additional 2,080 shares during the period. Finally, NBC Securities Inc. grew its position in shares of Workday by 28.0% in the 2nd quarter. NBC Securities Inc. now owns 7,636 shares of the software maker’s stock worth $1,707,000 after buying an additional 1,672 shares during the last quarter. 89.81% of the stock is 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.