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

Workday, Inc. (NASDAQ:WDAY) has been assigned a consensus rating of “Moderate Buy” from the twenty-eight ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and twenty have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $290.64.

Several research firms recently weighed in on WDAY. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 target price on shares of Workday in a research note on Monday, November 25th. Mizuho raised their price objective on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday. Wells Fargo & Company boosted their price objective on Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Evercore ISI reduced their target price on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. Finally, The Goldman Sachs Group boosted their price target on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $273.67 on Friday. Workday has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a market cap of $72.80 billion, a P/E ratio of 45.38, a P/E/G ratio of 5.04 and a beta of 1.34. The business’s 50 day moving average is $253.74 and its two-hundred day moving average is $238.90. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm posted $0.47 earnings per share. Workday’s revenue was up 15.8% compared to the same quarter last year. On average, equities analysts expect that Workday will post 2.58 EPS for the current year.

Insiders Place Their Bets

In other news, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction 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 completion of the sale, the insider now directly owns 85,795 shares of the company’s stock, valued at approximately $20,228,745.10. This trade represents a 3.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 70,003 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $251.20, for a total value of $17,584,753.60. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $25,872,846.40. This trade represents a 40.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 361,463 shares of company stock valued at $88,422,088. Insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in Workday in the third quarter valued at about $26,000. SouthState Corp increased its stake in shares of Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after acquiring an additional 129 shares during the last quarter. Crewe Advisors LLC increased its stake in shares of Workday by 56.6% in the 2nd quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock valued at $35,000 after acquiring an additional 56 shares during the last quarter. Goodman Advisory Group LLC acquired a new stake in shares of Workday in the 2nd quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. boosted its stake in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

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.