Workday, Inc. (NASDAQ:WDAY) Receives $289.46 Average PT from Brokerages

Workday, Inc. (NASDAQ:WDAY) has been given an average recommendation of “Moderate Buy” by the twenty-eight brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $289.46.

WDAY has been the topic of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $285.00 price target on shares of Workday in a report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft upped their target price on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Monday. Loop Capital upped their price objective on shares of Workday from $255.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Finally, Morgan Stanley decreased their price objective on shares of Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd.

Insider Buying and Selling at Workday

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 sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. This trade represents a 39.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard Harry Sauer sold 3,134 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the transaction, the insider now directly owns 85,795 shares of the company’s stock, valued at approximately $20,228,745.10. The trade was a 3.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 359,954 shares of company stock valued at $88,742,132. Corporate insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Several institutional investors have recently modified their holdings of WDAY. The Manufacturers Life Insurance Company boosted its holdings in Workday by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after buying an additional 1,016,394 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Workday by 17,345.2% in the second quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock valued at $208,068,000 after acquiring an additional 925,366 shares in the last quarter. Two Sigma Advisers LP boosted 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 acquiring an additional 562,400 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after purchasing an additional 480,459 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of Workday during the third quarter worth approximately $78,003,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Price Performance

Shares of WDAY stock opened at $270.19 on Wednesday. The stock’s 50-day moving average is $248.52 and its 200 day moving average is $237.21. Workday has a 1-year low of $199.81 and a 1-year high of $311.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The company has a market cap of $71.60 billion, a P/E ratio of 47.07, a PEG ratio of 5.31 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company’s revenue was up 15.8% compared to the same quarter last year. During the same period last year, the business earned $0.47 EPS. Research analysts predict that Workday will post 2.4 earnings per share for the current fiscal year.

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.