Workday (NASDAQ:WDAY) Earns Buy Rating from Needham & Company LLC

Workday (NASDAQ:WDAY)‘s stock had its “buy” rating restated by Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They currently have a $300.00 target price on the software maker’s stock. Needham & Company LLC’s target price points to a potential upside of 10.34% from the company’s previous close.

WDAY has been the topic of a number of other reports. Oppenheimer reiterated an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research report on Tuesday, December 3rd. Royal Bank of Canada raised their price target on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Barclays dropped their price objective on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Morgan Stanley lifted their price target on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Finally, Loop Capital cut their price objective on shares of Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.43.

Workday Stock Down 2.1 %

Shares of NASDAQ 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 firm’s 50-day simple moving average is $261.64 and its 200 day simple moving average is $249.91. 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 company has a market cap 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 announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Workday’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.47 earnings per share. On average, research analysts expect that Workday will post 2.63 earnings per share for the current fiscal year.

Insider Transactions at Workday

In related news, CAO Mark S. Garfield sold 472 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sayan Chakraborty sold 5,498 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the transaction, the insider now owns 121,100 shares of the company’s stock, valued at approximately $30,369,458. This represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock valued at $113,142,592 in the last ninety days. 20.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Workday

Several large investors have recently made changes to their positions in the stock. Roxbury Financial LLC bought a new position in Workday during the fourth quarter worth about $25,000. Capital Performance Advisors LLP acquired a new stake in shares of Workday in the third quarter valued at approximately $26,000. Crews Bank & Trust bought a new position in shares of Workday during the 4th quarter worth approximately $26,000. Avion Wealth increased its holdings in shares of Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its stake in Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

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.