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

Workday, Inc. (NASDAQ:WDAY) has been given a consensus rating of “Moderate Buy” by the twenty-seven brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and twenty have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $287.04.

WDAY has been the topic of several recent research reports. Loop Capital raised their price objective on Workday from $240.00 to $255.00 and gave the company a “hold” rating in a report on Friday, August 23rd. KeyCorp lifted their price target on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Evercore ISI lowered their price objective on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Needham & Company LLC cut their target price on shares of Workday from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, DA Davidson upped their price target on shares of Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd.

Workday Stock Up 2.3 %

WDAY stock opened at $239.12 on Friday. The firm has a 50-day moving average price of $246.99 and a 200-day moving average price of $236.26. Workday has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $63.37 billion, a P/E ratio of 41.66, a price-to-earnings-growth ratio of 4.64 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the firm earned $0.40 EPS. The firm’s revenue was up 16.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Workday will post 2.4 EPS for the current fiscal year.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,828 shares of the company’s 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 in the company, valued at $2,097,806.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 370,575 shares of company stock worth $91,506,897 in the last quarter. Company insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WDAY. Capital Performance Advisors LLP acquired a new stake in shares of Workday in the 3rd quarter worth about $26,000. Crewe Advisors LLC purchased a new stake in shares of Workday in the first quarter worth approximately $27,000. Sound Income Strategies LLC lifted its holdings in shares of Workday by 74.2% in the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after purchasing an additional 49 shares in the last quarter. SouthState Corp boosted its position in shares of Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after buying an additional 129 shares during the last quarter. Finally, Goodman Advisory Group LLC bought a new stake in Workday during the second quarter worth $35,000. 89.81% of the stock is owned by institutional investors.

About Workday

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.