Workday (NASDAQ:WDAY) Upgraded at StockNews.com

Workday (NASDAQ:WDAYGet Free Report) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

Other equities analysts have also issued research reports about the company. Loop Capital cut their price target on Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Royal Bank of Canada upped their target price on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Needham & Company LLC reiterated a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Monday, November 25th. Scotiabank started coverage on shares of Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price objective on the stock. Finally, Mizuho lifted their target price on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. 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, the company has an average rating of “Moderate Buy” and a consensus price target of $291.36.

Check Out Our Latest Analysis on Workday

Workday Trading Down 1.8 %

Shares of NASDAQ WDAY opened at $249.68 on Monday. Workday has a 1-year low of $199.81 and a 1-year high of $311.28. The company has a 50-day moving average of $261.60 and a two-hundred day moving average of $245.37. The company has a market cap of $66.41 billion, a PE ratio of 41.41, a P/E/G ratio of 5.04 and a beta of 1.34. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAYGet Free Report) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Workday’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.47 EPS. As a group, equities analysts expect that Workday will post 2.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the transaction, the chief executive officer now owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. This trade represents a 30.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,828 shares of Workday stock in a transaction on Friday, October 11th. The shares were sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the sale, the director now owns 8,674 shares in the company, valued at $2,097,806.90. The trade was a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 370,085 shares of company stock valued at $95,380,557 in the last 90 days. 20.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Workday

Hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC raised its position in Workday by 7.2% during the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after acquiring an additional 1,978 shares in the last quarter. Grafton Street Partners Fund LP bought a new stake in shares of Workday in the 3rd quarter valued at about $4,424,000. ICICI Prudential Asset Management Co Ltd lifted its stake in Workday by 32.4% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after purchasing an additional 7,802 shares during the last quarter. Legal & General Group Plc grew its holdings in Workday by 7.4% during the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after purchasing an additional 118,180 shares during the period. Finally, Atria Investments Inc increased its position in Workday by 19.3% during the third quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock worth $10,833,000 after buying an additional 7,175 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Company Profile

(Get Free Report)

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.

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