Workday’s (WDAY) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Workday (NASDAQ:WDAY) in a research note published on Monday,Benzinga reports. Needham & Company LLC currently has a $300.00 price target on the software maker’s stock.

Several other equities analysts also recently weighed in on the company. BNP Paribas upgraded Workday to a “strong-buy” rating in a report on Friday, February 14th. Citigroup decreased their price target on shares of Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. The Goldman Sachs Group boosted their price objective on Workday from $310.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Mizuho upped 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. Finally, Guggenheim reiterated a “neutral” rating on shares of Workday in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $300.36.

Workday Stock Down 0.8 %

Shares of NASDAQ:WDAY opened at $250.79 on Monday. The firm has a fifty day moving average price of $257.01 and a two-hundred day moving average price of $255.00. Workday has a one year low of $199.81 and a one year high of $294.00. The company has a market cap of $66.71 billion, a price-to-earnings ratio of 41.59, a PEG ratio of 3.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Analysts anticipate that Workday will post 2.63 EPS for the current fiscal year.

Insider Activity at Workday

In other news, major shareholder David A. Duffield sold 70,144 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $250.26, for a total transaction of $17,554,237.44. Following the sale, the insider now owns 102,997 shares in the company, valued at $25,776,029.22. This represents a 40.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Mark S. Garfield sold 472 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the transaction, the chief accounting officer now owns 35,408 shares in the company, valued at $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 487,145 shares of company stock worth $123,289,438. 20.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Workday

Institutional investors and hedge funds have recently made changes to their positions in the company. Bristlecone Advisors LLC boosted its position in shares of Workday by 49.6% during the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock worth $754,000 after acquiring an additional 968 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Workday by 7.2% during the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock valued at $7,934,000 after purchasing an additional 1,978 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after purchasing an additional 119,769 shares in the last quarter. Burns Matteson Capital Management LLC acquired a new position in shares of Workday in the fourth quarter valued at approximately $369,000. Finally, Worldquant Millennium Advisors LLC raised its holdings in Workday by 387.0% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 355,655 shares of the software maker’s stock valued at $86,926,000 after buying an additional 282,632 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.