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

Shares of Workday, Inc. (NASDAQ:WDAY) have earned an average rating of “Moderate Buy” from the thirty-one ratings firms that are covering the stock, MarketBeat reports. Nine investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $300.18.

WDAY has been the topic of several analyst reports. Redburn Atlantic initiated coverage on shares of Workday in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Jefferies Financial Group reduced their price target on Workday from $350.00 to $325.00 and set a “buy” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and increased their price target for the company from $265.00 to $300.00 in a research note on Wednesday, January 8th. Daiwa America upgraded Workday to a “strong-buy” rating in a report on Tuesday, March 4th. Finally, JMP Securities restated a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Thursday, February 6th.

Workday Price Performance

Workday stock opened at $233.53 on Tuesday. The company has a market capitalization of $62.12 billion, a PE ratio of 38.73, a P/E/G ratio of 3.55 and a beta of 1.38. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average price of $256.35 and a two-hundred day moving average price of $254.69. Workday has a 12 month low of $199.81 and a 12 month high of $294.00.

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

Insider Activity at Workday

In related news, Director Wayne A.I. Frederick sold 1,829 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total value of $462,901.61. Following the completion of the sale, the director now directly owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This represents a 21.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 431,145 shares of company stock valued at $108,631,438. 20.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Workday

Several hedge funds have recently modified their holdings of the company. Simplicity Wealth LLC lifted its holdings 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 period. Marcum Wealth LLC raised its stake 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 boosted its holdings in shares of Workday by 3.0% in the 4th quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after buying an additional 41 shares during the last quarter. AllSquare Wealth Management LLC grew its position in Workday by 19.4% during the fourth quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock valued at $65,000 after buying an additional 41 shares during the period. Finally, Kingsview Wealth Management LLC increased its holdings 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 buying an additional 43 shares during the last quarter. 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.