Workday (NASDAQ:WDAY) Given Market Outperform Rating at JMP Securities

Workday (NASDAQ:WDAY)‘s stock had its “market outperform” rating reiterated by stock analysts at JMP Securities in a report released on Thursday,Benzinga reports. They presently have a $315.00 price target on the software maker’s stock. JMP Securities’ price target would indicate a potential upside of 11.77% from the stock’s current price.

WDAY has been the subject of several other research reports. Bank of America decreased their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Morgan Stanley lifted their price target on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. The Goldman Sachs Group raised their price target on shares of Workday from $300.00 to $310.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company boosted their price target on Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and raised their price objective for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.43.

Workday Trading Up 2.1 %

WDAY stock traded up $5.67 during trading on Thursday, hitting $281.84. The company had a trading volume of 926,656 shares, compared to its average volume of 2,032,568. The firm has a market capitalization of $74.97 billion, a P/E ratio of 46.77, a PEG ratio of 4.73 and a beta of 1.35. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. 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 $261.15 and a 200-day simple moving average of $249.72.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 earnings per share. As a group, research analysts forecast that Workday will post 2.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sayan Chakraborty sold 5,498 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $250.78, for a total value 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. This trade represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock worth $113,142,592 over the last three months. Insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

A number of institutional investors and hedge funds have recently made changes to their positions in WDAY. Two Sigma Advisers LP raised its stake in shares of Workday by 1,094.2% in the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock worth $150,019,000 after purchasing an additional 562,400 shares during the last quarter. KBC Group NV lifted its stake in Workday by 340.3% during the 4th quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock valued at $169,199,000 after acquiring an additional 506,812 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after acquiring an additional 480,459 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Workday by 2,166.1% in the 4th quarter. Principal Financial Group Inc. now owns 403,224 shares of the software maker’s stock worth $104,044,000 after acquiring an additional 385,430 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Workday by 28.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,465,917 shares of the software maker’s stock valued at $378,250,000 after purchasing an additional 326,251 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

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.