Brokerages Set Workday, Inc. (NASDAQ:WDAY) PT at $292.25

Shares of Workday, Inc. (NASDAQ:WDAY) have received an average rating of “Moderate Buy” from the twenty-eight ratings firms that are currently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $292.25.

WDAY has been the subject of a number of research analyst reports. Bank of America decreased their target price on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Wells Fargo & Company boosted 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. BMO Capital Markets reissued an “outperform” rating and issued a $300.00 price target on shares of Workday in a research report on Wednesday, September 18th. Barclays reduced their price target on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Finally, The Goldman Sachs Group boosted their price target on Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total value of $15,692,670.00. Following the sale, the insider now owns 284,000 shares in the company, valued at $78,188,040. The trade was a 16.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction on Monday, January 6th. The shares were sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the sale, the chief executive officer now owns 13,972 shares in the company, valued at $3,546,931.92. This represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 438,347 shares of company stock worth $112,778,463. 20.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Workday

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its stake in shares of Workday by 42.8% in the second quarter. Principal Financial Group Inc. now owns 12,275 shares of the software maker’s stock valued at $2,744,000 after buying an additional 3,679 shares in the last quarter. Acadian Asset Management LLC grew its stake in Workday by 373.9% during the 2nd quarter. Acadian Asset Management LLC now owns 27,538 shares of the software maker’s stock worth $6,152,000 after purchasing an additional 21,727 shares in the last quarter. Caprock Group LLC grew its stake in Workday by 39.0% during the 2nd quarter. Caprock Group LLC now owns 2,660 shares of the software maker’s stock worth $595,000 after purchasing an additional 746 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Workday during the 2nd quarter worth $65,000. Finally, Wedbush Securities Inc. grew its stake in Workday by 18.4% during the 2nd quarter. Wedbush Securities Inc. now owns 2,390 shares of the software maker’s stock worth $534,000 after purchasing an additional 371 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Price Performance

WDAY opened at $249.71 on Thursday. The business has a fifty day moving average of $262.56 and a 200 day moving average of $245.91. Workday has a 52-week low of $199.81 and a 52-week high of $311.28. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a market cap of $66.42 billion, a P/E ratio of 41.41, a PEG ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY) last issued its earnings results 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. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday’s revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 EPS. As a group, sell-side analysts anticipate that Workday will post 2.58 EPS for the current year.

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.