Analysts Set Workday, Inc. (NASDAQ:WDAY) PT at $300.36

Shares of Workday, Inc. (NASDAQ:WDAY) have earned a consensus recommendation of “Moderate Buy” from the thirty-one analysts that are presently covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $300.36.

A number of equities research analysts recently weighed in on the stock. Loop Capital raised their price target on shares of Workday from $242.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, February 19th. BNP Paribas raised shares of Workday to a “strong-buy” rating in a research report on Friday, February 14th. Guggenheim reaffirmed a “neutral” rating on shares of Workday in a research report on Wednesday, February 26th. Canaccord Genuity Group raised their price target on shares of Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Monday.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 71,672 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $248.58, for a total transaction of $17,816,225.76. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $25,602,994.26. This trade represents a 41.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the sale, the director now directly owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 487,145 shares of company stock valued at $123,289,438. Insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Roxbury Financial LLC bought a new position in Workday during the 4th quarter valued at $25,000. Crews Bank & Trust acquired a new stake in shares of Workday in the fourth quarter valued at $26,000. Avion Wealth boosted its stake in Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after buying an additional 86 shares in the last quarter. TCTC Holdings LLC acquired a new position in Workday during the fourth quarter worth about $35,000. Finally, True Wealth Design LLC raised its position in Workday by 4,766.7% in the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after acquiring an additional 143 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

NASDAQ:WDAY opened at $244.55 on Tuesday. Workday has a twelve month low of $199.81 and a twelve month high of $294.00. The firm has a market capitalization of $65.05 billion, a price-to-earnings ratio of 40.56, a PEG ratio of 3.55 and a beta of 1.38. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm’s fifty day simple moving average is $256.89 and its 200 day simple moving average is $254.93.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. As a group, equities research analysts expect that Workday will post 2.63 earnings per share for the current fiscal year.

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.