Workday, Inc. (NASDAQ:WDAY) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Workday, Inc. (NASDAQ:WDAY) have received a consensus recommendation of “Moderate Buy” from the thirty analysts that are presently covering the company, MarketBeat reports. Nine investment analysts have rated the stock with a hold recommendation, twenty have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $302.14.

Several equities analysts have commented on the stock. Piper Sandler lifted their target price on shares of Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday. JMP Securities reissued a “market outperform” rating and set a $315.00 price objective on shares of Workday in a report on Thursday, February 6th. JPMorgan Chase & Co. raised their price target on Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group lifted their target price on shares of Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, KeyCorp raised their price objective on shares of Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a research note on Wednesday.

Insider Activity

In related news, major shareholder David A. Duffield sold 70,090 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,215,826.41. This represents a 40.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following 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. Insiders sold 433,321 shares of company stock worth $111,763,803 over the last three months. 20.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Workday

Several institutional investors and hedge funds have recently made changes to their positions in the business. Crews Bank & Trust acquired a new position in shares of Workday in the 4th quarter valued at about $26,000. Roxbury Financial LLC acquired a new stake in shares of Workday in the 4th quarter worth about $25,000. Avion Wealth lifted its position in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after purchasing an additional 86 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Workday during the 3rd quarter valued at about $26,000. Finally, TCTC Holdings LLC bought a new position in Workday in the 4th quarter worth about $35,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Down 3.9 %

NASDAQ:WDAY opened at $260.57 on Friday. Workday has a one year low of $199.81 and a one year high of $298.50. 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 company has a market cap of $69.31 billion, a PE ratio of 43.21, a P/E/G ratio of 3.55 and a beta of 1.35. The firm’s 50 day simple moving average is $259.89 and its 200 day simple moving average is $254.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results 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 return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. On average, research analysts anticipate that Workday will post 2.63 earnings per share 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.