Oppenheimer Reiterates “Outperform” Rating for Workday (NASDAQ:WDAY)

Workday (NASDAQ:WDAY)‘s stock had its “outperform” rating reissued by investment analysts at Oppenheimer in a research report issued on Tuesday,Benzinga reports. They presently have a $300.00 price objective on the software maker’s stock. Oppenheimer’s price objective points to a potential upside of 11.58% from the company’s current price.

Several other brokerages have also recently commented on WDAY. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price target on shares of Workday in a research note on Monday, November 25th. BMO Capital Markets restated an “outperform” rating and issued a $300.00 target price on shares of Workday in a report on Wednesday, September 18th. Evercore ISI reduced their target price on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Citigroup reduced their target price on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Finally, DA Davidson boosted their target price on shares of Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and a consensus price target of $288.14.

Workday Stock Up 4.6 %

Shares of WDAY stock opened at $268.87 on Tuesday. The stock has a market cap of $71.25 billion, a P/E ratio of 44.59, a PEG ratio of 4.66 and a beta of 1.34. Workday has a 52 week low of $199.81 and a 52 week high of $311.28. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $249.61 and its two-hundred day simple moving average is $237.47.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.21%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 EPS. Analysts predict that Workday will post 2.57 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In other news, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total value of $738,934.52. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $245.36, for a total transaction of $13,740,160.00. Following the sale, the insider now owns 449,000 shares of the company’s stock, valued at approximately $110,166,640. The trade was a 11.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 361,463 shares of company stock valued at $88,422,088 over the last ninety days. Corporate insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

A number of institutional investors have recently made changes to their positions in WDAY. Capital Performance Advisors LLP acquired a new stake in shares of Workday during the third quarter valued at about $26,000. SouthState Corp grew its holdings in shares of Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after purchasing an additional 129 shares in the last quarter. Crewe Advisors LLC grew its holdings in shares of Workday by 56.6% in the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock valued at $35,000 after purchasing an additional 56 shares in the last quarter. Goodman Advisory Group LLC acquired a new position in shares of Workday in the second quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.