Workday (NASDAQ:WDAY) Rating Increased to Buy at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Workday (NASDAQ:WDAY) from a hold rating to a buy rating in a report issued on Wednesday, Marketbeat.com reports. Deutsche Bank Aktiengesellschaft currently has $300.00 target price on the software maker’s stock, up from their prior target price of $265.00.

Several other research firms also recently commented on WDAY. Loop Capital lowered their target price on shares of Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Oppenheimer reissued an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research note on Tuesday, December 3rd. JMP Securities reiterated a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Thursday, September 19th. Bank of America dropped their target price on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Finally, Guggenheim upgraded shares of Workday from a “sell” rating to a “neutral” rating in a report on Monday. Seven analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $292.25.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $254.69 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The company has a market capitalization of $67.75 billion, a PE ratio of 42.24, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34. The stock has a fifty day moving average of $261.93 and a 200-day moving average of $245.44. Workday has a one year low of $199.81 and a one year high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) 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 analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 earnings per share. As a group, equities analysts anticipate that Workday will post 2.58 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In other Workday news, Director Wayne A.I. Frederick sold 1,828 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $241.85, for a total value of $442,101.80. Following the sale, the director now owns 8,674 shares in the company, valued at approximately $2,097,806.90. The trade was a 17.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the completion of the sale, the insider now owns 281,000 shares in the company, valued at $68,004,810. This trade represents a 16.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 370,085 shares of company stock valued at $95,380,557. 20.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Workday

Institutional investors and hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. grew its holdings in Workday by 42.2% during the third 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 period. Kingsview Wealth Management LLC boosted its position in Workday by 0.9% during the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after purchasing an additional 43 shares during the period. Opal Wealth Advisors LLC raised its position in shares of Workday by 5.2% in the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock valued at $231,000 after purchasing an additional 47 shares during the period. Mesirow Financial Investment Management Inc. lifted its stake in shares of Workday by 3.4% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock worth $324,000 after buying an additional 48 shares during the last quarter. Finally, Fulton Bank N.A. boosted its holdings in shares of Workday by 1.3% during the 4th quarter. Fulton Bank N.A. now owns 3,696 shares of the software maker’s stock worth $954,000 after buying an additional 48 shares during the period. Institutional investors 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.