JMP Securities Reiterates Market Outperform Rating for Workday (NASDAQ:WDAY)

Workday (NASDAQ:WDAY)‘s stock had its “market outperform” rating reiterated by equities researchers at JMP Securities in a research note issued to investors on Thursday,Benzinga reports. They currently have a $315.00 price target on the software maker’s stock. JMP Securities’ target price would suggest a potential upside of 15.86% from the company’s current price.

Several other research analysts have also weighed in on WDAY. Barclays cut their target price on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Mizuho raised their price objective on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Wells Fargo & Company boosted their target price on Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. The Goldman Sachs Group increased their target price on shares of Workday from $300.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Citigroup reduced 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. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.43.

Workday Stock Down 2.1 %

WDAY opened at $271.89 on Thursday. Workday has a 12 month low of $199.81 and a 12 month high of $311.28. The business has a 50-day moving average of $261.64 and a two-hundred day moving average of $249.91. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The stock has a market capitalization of $72.32 billion, a price-to-earnings ratio of 45.09, a price-to-earnings-growth ratio of 4.73 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its 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 firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Workday’s revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 earnings per share. On average, research analysts expect that Workday will post 2.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction dated 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 transaction, the chief executive officer now directly owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the 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 sale, the chief accounting officer now owns 35,408 shares in the company, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock valued at $113,142,592 in the last ninety days. Corporate insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

Institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC boosted its position in Workday by 24.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,193 shares of the software maker’s stock valued at $824,000 after purchasing an additional 632 shares during the period. Moors & Cabot Inc. boosted its holdings in shares of Workday by 42.6% during the fourth quarter. Moors & Cabot Inc. now owns 1,182 shares of the software maker’s stock valued at $305,000 after acquiring an additional 353 shares during the period. Prosperity Financial Group Inc. boosted its holdings in shares of Workday by 11.6% during the fourth quarter. Prosperity Financial Group Inc. now owns 1,180 shares of the software maker’s stock valued at $304,000 after acquiring an additional 123 shares during the period. Citizens Financial Group Inc. RI grew its position in shares of Workday by 6.1% during the fourth quarter. Citizens Financial Group Inc. RI now owns 4,237 shares of the software maker’s stock worth $1,093,000 after acquiring an additional 243 shares during the last quarter. Finally, Independent Advisor Alliance increased its holdings in shares of Workday by 60.8% in the 4th quarter. Independent Advisor Alliance now owns 2,579 shares of the software maker’s stock worth $665,000 after acquiring an additional 975 shares during the period. 89.81% of the stock is owned by institutional investors.

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.