Workday (NASDAQ:WDAY) Upgraded at Daiwa America

Daiwa America upgraded shares of Workday (NASDAQ:WDAY) to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

A number of other research firms also recently issued reports on WDAY. Scotiabank raised their price target on Workday from $340.00 to $355.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 27th. Royal Bank of Canada raised their target price on Workday from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Loop Capital upped their price target on shares of Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday, February 19th. Guggenheim reiterated a “neutral” rating on shares of Workday in a research note on Wednesday, February 26th. Finally, Piper Sandler boosted their target price on shares of Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Workday has an average rating of “Moderate Buy” and an average target price of $302.14.

Workday Trading Down 2.3 %

Workday stock opened at $253.76 on Tuesday. Workday has a one year low of $199.81 and a one year high of $294.00. The business’s fifty day moving average is $258.67 and its 200 day moving average is $255.48. The stock has a market capitalization of $67.50 billion, a PE ratio of 42.08, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY) last announced 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 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. On average, sell-side analysts predict that Workday will post 2.63 EPS for the current year.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $265.70, for a total transaction of $14,879,200.00. Following the sale, the insider now directly owns 228,000 shares of the company’s stock, valued at $60,579,600. This represents a 19.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the transaction, the director now directly owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 435,829 shares of company stock valued at $113,033,319 in the last 90 days. Insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC lifted its stake in shares of Workday by 12.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 19,228 shares of the software maker’s stock valued at $4,700,000 after purchasing an additional 2,076 shares during the last quarter. QRG Capital Management Inc. lifted its position in Workday by 14.4% in the third quarter. QRG Capital Management Inc. now owns 7,170 shares of the software maker’s stock worth $1,752,000 after buying an additional 905 shares during the last quarter. Moloney Securities Asset Management LLC purchased a new position in Workday during the third quarter worth $307,000. Concurrent Investment Advisors LLC increased its position in Workday by 31.7% during the third quarter. Concurrent Investment Advisors LLC now owns 1,879 shares of the software maker’s stock valued at $459,000 after acquiring an additional 452 shares during the last quarter. Finally, Graypoint LLC raised its stake in shares of Workday by 19.8% in the third quarter. Graypoint LLC now owns 2,516 shares of the software maker’s stock valued at $615,000 after acquiring an additional 416 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

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.