Workday, Inc. (NASDAQ:WDAY) Stock Has Consensus Price Target of $202.10

Shares of Workday, Inc. (NASDAQ:WDAY) have been given a consensus recommendation of “Hold” by the forty-three research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, nineteen have assigned a hold recommendation and twenty-two have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $202.10.

Several analysts have recently issued reports on the company. Weiss Ratings upgraded Workday from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 18th. Bank of America lifted their price objective on Workday from $140.00 to $205.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. Piper Sandler boosted their target price on shares of Workday from $145.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, August 28th. Canaccord Genuity Group boosted their target price on shares of Workday from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Finally, Wall Street Zen upgraded shares of Workday from a “hold” rating to a “buy” rating in a report on Saturday, September 5th.

Insider Buying and Selling at Workday

In other news, insider Gerrit Kazmaier sold 2,729 shares of Workday stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $187.28, for a total transaction of $511,087.12. Following the completion of the sale, the insider directly owned 251,314 shares in the company, valued at $47,066,085.92. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Mark Garfield sold 918 shares of the business’s stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $189.45, for a total transaction of $173,915.10. Following the completion of the transaction, the chief accounting officer directly owned 69,309 shares of the company’s stock, valued at approximately $13,130,590.05. This represents a 1.31% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 988,104 shares of company stock valued at $188,811,574. Corporate insiders own 18.64% of the company’s stock.

Institutional Trading of Workday

Several hedge funds and other institutional investors have recently bought and sold shares of WDAY. Pictet Asset Management Holding SA boosted its holdings in shares of Workday by 7.6% during the third quarter. Pictet Asset Management Holding SA now owns 3,033,026 shares of the software maker’s stock worth $577,639,000 after purchasing an additional 213,618 shares during the last quarter. Tidal Investments LLC increased its stake in Workday by 43.6% in the second quarter. Tidal Investments LLC now owns 1,439,456 shares of the software maker’s stock valued at $176,218,000 after purchasing an additional 437,175 shares during the last quarter. First Trust Advisors LP lifted its position in Workday by 9.6% during the first quarter. First Trust Advisors LP now owns 1,416,176 shares of the software maker’s stock worth $183,990,000 after buying an additional 124,524 shares during the period. Pacer Advisors Inc. lifted its position in Workday by 60.4% during the first quarter. Pacer Advisors Inc. now owns 1,227,051 shares of the software maker’s stock worth $159,418,000 after buying an additional 462,002 shares during the period. Finally, Temasek Holdings Private Ltd lifted its position in Workday by 9.5% during the first quarter. Temasek Holdings Private Ltd now owns 889,318 shares of the software maker’s stock worth $115,540,000 after buying an additional 77,330 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Price Performance

NASDAQ:WDAY traded up $5.81 during trading hours on Friday, reaching $196.45. 1,730,934 shares of the company traded hands, compared to its average volume of 2,147,996. The firm’s 50-day moving average is $193.31 and its 200-day moving average is $156.57. The stock has a market cap of $47.34 billion, a P/E ratio of 39.85, a P/E/G ratio of 1.92 and a beta of 1.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91. Workday has a 1-year low of $110.36 and a 1-year high of $236.80.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.14. Workday had a return on equity of 20.95% and a net margin of 12.32%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter last year, the business posted $2.21 earnings per share. Workday’s revenue was up 12.8% compared to the same quarter last year. Equities research analysts expect that Workday will post 5.32 earnings per share for the current fiscal year.

About Workday

Workday, Inc. develops cloud-based software for managing human resources, finance and business operations. Its products include Workday Human Capital Management, Workday Financial Management and Workday Adaptive Planning, which help organizations manage areas such as workforce administration, accounting, budgeting and forecasting. Founded in 2005 by Dave Duffield and Aneel Bhusri, Workday serves businesses, governments and educational institutions across a range of industries. Its operations and customer base extend across North America and international markets.