Workday (NASDAQ:WDAY) Upgraded at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Workday (NASDAQ:WDAY) from a hold rating to a buy rating in a research report released on Wednesday, Marketbeat reports. The brokerage currently has $300.00 price target on the software maker’s stock, up from their previous price target of $265.00.

Other equities research analysts have also recently issued reports about the stock. StockNews.com upgraded shares of Workday from a “hold” rating to a “buy” rating in a research report on Monday, January 6th. Bank of America dropped their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Barclays reduced their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Wells Fargo & Company increased their price objective on Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Finally, Morgan Stanley lifted their target price on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.25.

Workday Trading Down 2.0 %

Shares of Workday stock opened at $249.71 on Wednesday. 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 stock’s 50 day simple moving average is $262.56 and its 200-day simple moving average is $245.72. The stock has a market cap of $66.42 billion, a P/E ratio of 41.41, a P/E/G 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 issued 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 company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the business earned $0.47 EPS. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. Analysts predict that Workday will post 2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 70,090 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,215,826.41. This represents a 40.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sayan Chakraborty sold 5,498 shares of the stock in a transaction dated 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 in the company, valued at approximately $30,369,458. The trade was a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 438,347 shares of company stock worth $112,778,463 in the last 90 days. Corporate insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WDAY. Meeder Asset Management Inc. lifted its stake in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after buying an additional 43 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of Workday by 0.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock valued at $1,243,000 after acquiring an additional 43 shares during the period. Opal Wealth Advisors LLC raised its position in Workday by 5.2% in the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock valued at $231,000 after purchasing an additional 47 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its stake in Workday by 3.4% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock worth $324,000 after purchasing an additional 48 shares during the period. Finally, Fulton Bank N.A. grew its position in Workday by 1.3% during the 4th quarter. Fulton Bank N.A. now owns 3,696 shares of the software maker’s stock worth $954,000 after purchasing an additional 48 shares during the last quarter. 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.