Analysts Set Workday, Inc. (NASDAQ:WDAY) PT at $289.46

Workday, Inc. (NASDAQ:WDAY) has been given an average rating of “Moderate Buy” by the twenty-eight analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $289.46.

WDAY has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. JMP Securities reiterated a “market outperform” rating and set a $315.00 target price on shares of Workday in a research report on Thursday, September 19th. Wells Fargo & Company boosted their target price on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Bank of America boosted their target price on Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $285.00 target price on shares of Workday in a research report on Wednesday, September 18th.

Insider Transactions at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $260.32, for a total value of $1,952,400.00. Following the sale, the director now owns 97,500 shares of the company’s stock, valued at approximately $25,381,200. This trade represents a 7.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the completion of the sale, the insider now directly owns 85,795 shares in the company, valued at approximately $20,228,745.10. This trade represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 370,575 shares of company stock worth $91,506,897. 20.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Workday

Several hedge funds have recently added to or reduced their stakes in the business. ORG Partners LLC raised its stake in shares of Workday by 3,717.9% in the 2nd quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock worth $721,000 after buying an additional 3,123 shares in the last quarter. Grafton Street Partners Fund LP bought a new stake in shares of Workday in the 3rd quarter worth $4,424,000. ICICI Prudential Asset Management Co Ltd raised its stake in shares of Workday by 32.4% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after buying an additional 7,802 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Workday by 42.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 13,380 shares of the software maker’s stock worth $3,649,000 after buying an additional 3,965 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Workday by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after buying an additional 118,180 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Price Performance

Shares of NASDAQ WDAY opened at $267.75 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. Workday has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The firm has a market capitalization of $70.95 billion, a PE ratio of 46.65, a price-to-earnings-growth ratio of 5.16 and a beta of 1.35. The stock’s 50-day simple moving average is $247.71 and its 200-day simple moving average is $237.07.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping the consensus estimate of $1.65 by $0.10. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 earnings per share. As a group, equities research analysts forecast that Workday will post 2.4 EPS for the current fiscal 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.