Workday, Inc. (NASDAQ:WDAY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Workday, Inc. (NASDAQ:WDAY) has been given an average rating of “Moderate Buy” by the twenty-eight brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $293.61.

Several brokerages recently weighed in on WDAY. KeyCorp boosted their price target on shares of Workday from $310.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Mizuho upped their target price on shares of Workday from $290.00 to $325.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. BMO Capital Markets lifted their price target on Workday from $290.00 to $338.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 13th. StockNews.com downgraded Workday from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 8th. Finally, Guggenheim reiterated a “sell” rating and issued a $190.00 target price on shares of Workday in a report on Tuesday, February 27th.

Workday Trading Down 1.5 %

Shares of Workday stock opened at $259.63 on Tuesday. Workday has a twelve month low of $174.25 and a twelve month high of $311.28. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $281.47 and a 200-day moving average price of $261.76. The firm has a market cap of $68.54 billion, a price-to-earnings ratio of 50.41, a PEG ratio of 6.59 and a beta of 1.32.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.10. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.14) EPS. Equities research analysts anticipate that Workday will post 1.76 EPS for the current fiscal year.

Insider Activity

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total transaction of $916,918.59. Following the transaction, the insider now directly owns 165,932 shares in the company, valued at approximately $48,749,162.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Douglas A. Robinson sold 411 shares of Workday stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total value of $109,695.90. Following the transaction, the insider now directly owns 165,521 shares in the company, valued at approximately $44,177,554.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total value of $916,918.59. Following the completion of the transaction, the insider now directly owns 165,932 shares of the company’s stock, valued at $48,749,162.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 379,691 shares of company stock worth $102,897,729. Company insiders own 21.09% of the company’s stock.

Hedge Funds Weigh In On Workday

Several institutional investors and hedge funds have recently added to or reduced their stakes in WDAY. Vanguard Group Inc. grew its position in shares of Workday by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock worth $3,988,549,000 after buying an additional 437,215 shares during the last quarter. Norges Bank purchased a new position in Workday in the fourth quarter worth $1,491,149,000. Wellington Management Group LLP increased its position in shares of Workday by 37.4% during the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock worth $1,109,348,000 after purchasing an additional 1,406,153 shares in the last quarter. State Street Corp lifted its holdings in shares of Workday by 3.0% during the 1st quarter. State Street Corp now owns 4,270,722 shares of the software maker’s stock valued at $882,064,000 after purchasing an additional 126,266 shares during the last quarter. Finally, Polen Capital Management LLC boosted its position in shares of Workday by 2.0% in the 3rd quarter. Polen Capital Management LLC now owns 3,950,320 shares of the software maker’s stock worth $848,726,000 after purchasing an additional 78,352 shares in the last quarter. Hedge funds and other institutional investors 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.