Workday, Inc. (NASDAQ:WDAY) Receives $290.64 Consensus Price Target from Analysts

Shares of Workday, Inc. (NASDAQ:WDAY) have earned a consensus rating of “Moderate Buy” from the twenty-eight ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and twenty have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $290.64.

A number of equities analysts recently issued reports on WDAY shares. Citigroup cut their target price on Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. Mizuho boosted their target price on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a report on Wednesday, December 4th. JMP Securities reissued a “market outperform” rating and set a $315.00 price objective on shares of Workday in a report on Thursday, September 19th. Finally, Evercore ISI dropped their target price on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th.

Insider Activity

In related news, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total transaction of $738,934.52. Following the transaction, the insider now directly owns 85,795 shares of the company’s stock, valued at $20,228,745.10. This trade represents a 3.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Wayne A.I. Frederick sold 1,828 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $241.85, for a total value of $442,101.80. Following the sale, the director now owns 8,674 shares of the company’s stock, valued at approximately $2,097,806.90. This represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 304,463 shares of company stock valued at $74,309,458. Corporate insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

Several institutional investors and hedge funds have recently bought and sold shares of WDAY. Grafton Street Partners Fund LP purchased a new stake in shares of Workday during the third quarter valued at $4,424,000. Sanctuary Advisors LLC grew its position in Workday by 7.2% during the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock valued at $7,934,000 after buying an additional 1,978 shares during the period. ICICI Prudential Asset Management Co Ltd increased its holdings in Workday by 32.4% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after buying an additional 7,802 shares in the last quarter. Legal & General Group Plc raised its position in shares of Workday by 7.4% in the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after acquiring an additional 118,180 shares during the period. Finally, Atria Investments Inc boosted its stake in shares of Workday by 19.3% during the 3rd quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock worth $10,833,000 after acquiring an additional 7,175 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Trading Down 0.1 %

NASDAQ WDAY opened at $278.01 on Friday. 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 stock has a 50-day moving average of $255.37 and a 200-day moving average of $240.06. The firm has a market cap of $73.95 billion, a PE ratio of 46.10, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34. Workday has a 1-year low of $199.81 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the firm earned $0.47 earnings per share. The business’s revenue was up 15.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Workday will post 2.58 EPS 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.