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

Shares of Workday, Inc. (NASDAQ:WDAY) have been given a consensus rating of “Moderate Buy” by the twenty-eight ratings firms that are covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and twenty-one have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $292.43.

A number of equities analysts have issued reports on the stock. Scotiabank initiated coverage on shares of Workday in a research note on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and boosted their target price for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. Wells Fargo & Company increased their price target on Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Citigroup decreased their price objective on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Barclays dropped their target price on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th.

Insider Activity at Workday

In related news, insider Sayan Chakraborty sold 5,498 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the sale, the insider now owns 121,100 shares of the company’s stock, valued at approximately $30,369,458. This represents a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the transaction, the director now directly owns 6,845 shares in the company, valued at $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is currently owned by insiders.

Institutional Trading of Workday

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Simplicity Wealth LLC increased its stake in Workday by 3.0% during the fourth quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock worth $330,000 after acquiring an additional 37 shares during the last quarter. Marcum Wealth LLC grew its holdings in shares of Workday by 4.4% during the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock worth $249,000 after purchasing an additional 41 shares during the period. Custom Index Systems LLC increased its position in shares of Workday by 3.0% during the 4th quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after purchasing an additional 41 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of 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 purchasing an additional 43 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its holdings in Workday by 0.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock valued at $1,243,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Price Performance

NASDAQ WDAY opened at $271.89 on Monday. The company has a market cap of $72.32 billion, a price-to-earnings ratio of 45.09, a PEG ratio of 3.78 and a beta of 1.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The stock’s fifty day moving average price is $262.08 and its 200 day moving average price is $250.38. Workday has a 1 year low of $199.81 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data 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. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the company earned $0.47 earnings per share. The company’s revenue was up 15.8% on a year-over-year basis. As a group, equities research analysts forecast that Workday will post 2.63 earnings per share 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.