Workday (NASDAQ:WDAY) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Workday (NASDAQ:WDAY) from a buy rating to a strong-buy rating in a report published on Saturday.

A number of other research firms have also recently commented on WDAY. Citigroup cut their target price on Workday from $261.00 to $247.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 26th. Royal Bank Of Canada cut their price objective on Workday from $320.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. JPMorgan Chase & Co. reduced their target price on Workday from $290.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. The Goldman Sachs Group started coverage on shares of Workday in a research note on Monday, January 12th. They set a “neutral” rating and a $238.00 target price for the company. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Workday in a research note on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat.com, Workday has an average rating of “Moderate Buy” and an average price target of $269.06.

Workday Trading Up 0.3%

WDAY stock opened at $144.42 on Friday. Workday has a twelve month low of $140.59 and a twelve month high of $281.00. The stock has a market capitalization of $37.98 billion, a price-to-earnings ratio of 60.68, a price-to-earnings-growth ratio of 1.23 and a beta of 1.13. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34. The firm’s fifty day simple moving average is $196.02 and its two-hundred day simple moving average is $217.92.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.15. The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.42 billion. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business’s revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the business earned $1.89 EPS. As a group, analysts anticipate that Workday will post 2.63 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Richard Harry Sauer sold 1,130 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $210.00, for a total transaction of $237,300.00. Following the transaction, the insider directly owned 85,398 shares in the company, valued at approximately $17,933,580. This trade represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mark S. Garfield sold 953 shares of Workday stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $209.56, for a total transaction of $199,710.68. Following the transaction, the chief accounting officer directly owned 35,336 shares in the company, valued at approximately $7,405,012.16. The trade was a 2.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 370,321 shares of company stock valued at $78,866,401 over the last quarter. 19.31% of the stock is owned by company insiders.

Institutional Trading of Workday

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Perennial Investment Advisors LLC lifted its stake in shares of Workday by 2.8% during the 2nd quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker’s stock worth $418,000 after purchasing an additional 48 shares during the last quarter. Finivi Inc. raised its holdings in Workday by 3.3% in the third quarter. Finivi Inc. now owns 1,516 shares of the software maker’s stock worth $365,000 after purchasing an additional 48 shares in the last quarter. Bay Harbor Wealth Management LLC raised its holdings in Workday by 12.0% in the third quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker’s stock worth $110,000 after purchasing an additional 49 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Workday by 1.2% during the third quarter. Farther Finance Advisors LLC now owns 4,128 shares of the software maker’s stock valued at $994,000 after buying an additional 49 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its holdings in shares of Workday by 1.1% in the 2nd quarter. Kingsview Wealth Management LLC now owns 4,544 shares of the software maker’s stock valued at $1,091,000 after buying an additional 50 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.