Workday (NASDAQ:WDAY) Upgraded by Daiwa America to Strong-Buy Rating

Workday (NASDAQ:WDAY) was upgraded by analysts at Daiwa America to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research firms have also weighed in on WDAY. UBS Group increased their price objective on shares of Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Mizuho raised their price target on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Piper Sandler upped their price objective on Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Redburn Atlantic began coverage on Workday in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Finally, Loop Capital boosted their price target on shares of Workday from $242.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, February 19th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $302.14.

Workday Stock Performance

Shares of WDAY stock opened at $259.61 on Tuesday. Workday has a 12 month low of $199.81 and a 12 month high of $294.00. The firm has a market capitalization of $69.06 billion, a P/E ratio of 43.05, a P/E/G ratio of 3.55 and a beta of 1.35. 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’s fifty day moving average price is $258.98 and its two-hundred day moving average price is $255.49.

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

Insiders Place Their Bets

In other news, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total value of $462,901.61. Following the completion of the sale, the director now directly owns 6,845 shares in the company, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $265.70, for a total transaction of $14,879,200.00. Following the completion of the sale, the insider now owns 228,000 shares of the company’s stock, valued at $60,579,600. The trade was a 19.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 435,829 shares of company stock worth $113,033,319 over the last 90 days. Corporate insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

A number of institutional investors have recently bought and sold shares of WDAY. Janney Montgomery Scott LLC lifted its stake in Workday by 12.1% in the third quarter. Janney Montgomery Scott LLC now owns 19,228 shares of the software maker’s stock valued at $4,700,000 after buying an additional 2,076 shares during the period. QRG Capital Management Inc. boosted its stake in Workday by 14.4% during the 3rd quarter. QRG Capital Management Inc. now owns 7,170 shares of the software maker’s stock worth $1,752,000 after acquiring an additional 905 shares during the last quarter. Moloney Securities Asset Management LLC bought a new position in Workday during the 3rd quarter worth approximately $307,000. Concurrent Investment Advisors LLC grew its holdings in Workday by 31.7% during the third quarter. Concurrent Investment Advisors LLC now owns 1,879 shares of the software maker’s stock valued at $459,000 after purchasing an additional 452 shares during the period. Finally, Graypoint LLC increased its stake in Workday by 19.8% in the third quarter. Graypoint LLC now owns 2,516 shares of the software maker’s stock valued at $615,000 after purchasing an additional 416 shares in 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.