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

Shares of Workday, Inc. (NASDAQ:WDAY) have earned an average recommendation of “Moderate Buy” from the twenty-seven ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $279.22.

Several equities analysts have weighed in on the company. Canaccord Genuity Group reduced their price objective on Workday from $305.00 to $270.00 and set a “buy” rating for the company in a report on Friday, May 24th. Loop Capital cut their price target on Workday from $280.00 to $240.00 and set a “hold” rating for the company in a research note on Friday, May 24th. Needham & Company LLC restated a “buy” rating and issued a $350.00 price objective on shares of Workday in a research note on Friday, May 24th. TD Cowen cut their target price on shares of Workday from $330.00 to $290.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Finally, Barclays lowered their price target on shares of Workday from $316.00 to $286.00 and set an “overweight” rating on the stock in a research report on Friday, May 24th.

Insider Activity at Workday

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $214.44, for a total value of $669,267.24. Following the transaction, the insider now directly owns 204,066 shares of the company’s stock, valued at approximately $43,759,913.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Richard Harry Sauer sold 3,134 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $226.67, for a total transaction of $710,383.78. Following the transaction, the insider now owns 92,014 shares in the company, valued at approximately $20,856,813.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $214.44, for a total value of $669,267.24. Following the completion of the sale, the insider now owns 204,066 shares of the company’s stock, valued at approximately $43,759,913.04. The disclosure for this sale can be found here. Insiders sold 524,672 shares of company stock worth $115,938,834 in the last ninety days. 20.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Workday

Several hedge funds have recently made changes to their positions in WDAY. VisionPoint Advisory Group LLC increased its position in Workday by 27.6% during the 4th quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock valued at $43,000 after purchasing an additional 34 shares during the period. Carolinas Wealth Consulting LLC increased its position in shares of Workday by 9.7% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock valued at $106,000 after buying an additional 34 shares during the period. Congress Wealth Management LLC DE raised its stake in Workday by 2.4% in the fourth quarter. Congress Wealth Management LLC DE now owns 1,658 shares of the software maker’s stock worth $458,000 after buying an additional 39 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in Workday by 4.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 869 shares of the software maker’s stock worth $240,000 after buying an additional 39 shares during the period. Finally, Waldron Private Wealth LLC boosted its position in Workday by 0.9% during the 4th quarter. Waldron Private Wealth LLC now owns 4,691 shares of the software maker’s stock valued at $1,294,000 after acquiring an additional 40 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Up 0.1 %

WDAY stock opened at $231.74 on Monday. The stock has a market cap of $61.41 billion, a P/E ratio of 41.75, a P/E/G ratio of 5.62 and a beta of 1.35. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.37. The stock’s fifty day simple moving average is $221.01 and its two-hundred day simple moving average is $249.55. Workday has a 1-year low of $199.81 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 5.78%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the firm earned $0.16 EPS. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. Analysts expect that Workday will post 2.12 EPS for the current 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.