Workday, Inc. (NASDAQ:WDAY) Given Consensus Recommendation of “Moderate Buy” by Analysts

Workday, Inc. (NASDAQ:WDAY) has been given a consensus rating of “Moderate Buy” by the twenty-seven ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $281.44.

WDAY has been the subject of several recent analyst reports. KeyCorp dropped their target price on shares of Workday from $330.00 to $275.00 and set an “overweight” rating for the company in a report on Friday, May 24th. Stifel Nicolaus cut their target price on Workday from $290.00 to $250.00 and set a “hold” rating for the company in a research report on Friday, May 24th. JPMorgan Chase & Co. lowered their price target on Workday from $300.00 to $285.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. Bank of America cut their price objective on shares of Workday from $330.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, May 16th. Finally, Jefferies Financial Group lowered their target price on shares of Workday from $350.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, May 24th.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 82,762 shares of Workday stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $210.28, for a total transaction of $17,403,193.36. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $21,658,209.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Workday news, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $209.17, for a total value of $11,922,690.00. Following the sale, the insider now owns 786,000 shares in the company, valued at $164,407,620. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 82,762 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $210.28, for a total transaction of $17,403,193.36. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $21,658,209.16. The disclosure for this sale can be found here. Insiders have sold 524,672 shares of company stock worth $115,938,834 over the last quarter. Insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. increased its position in shares of Workday by 5.1% during the fourth quarter. Vontobel Holding Ltd. now owns 67,077 shares of the software maker’s stock worth $18,517,000 after acquiring an additional 3,260 shares during the period. William Blair Investment Management LLC grew its stake in Workday by 17.6% in the first quarter. William Blair Investment Management LLC now owns 32,442 shares of the software maker’s stock worth $8,849,000 after purchasing an additional 4,865 shares in the last quarter. Assetmark Inc. increased its holdings in Workday by 9.9% during the 4th quarter. Assetmark Inc. now owns 21,414 shares of the software maker’s stock worth $5,912,000 after purchasing an additional 1,933 shares during the period. Bornite Capital Management LP bought a new stake in Workday during the 4th quarter valued at $34,508,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Workday by 3.0% in the 1st quarter. Nordea Investment Management AB now owns 468,915 shares of the software maker’s stock worth $128,851,000 after buying an additional 13,502 shares during the period. Institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

NASDAQ:WDAY opened at $228.99 on Thursday. The stock has a 50-day simple moving average of $225.36 and a two-hundred day simple moving average of $258.20. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.00 and a current ratio of 2.00. Workday has a 52-week low of $202.01 and a 52-week high of $311.28. The firm has a market capitalization of $60.68 billion, a PE ratio of 41.26, a P/E/G ratio of 5.73 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 5.78%. The firm’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.16 EPS. Analysts forecast that Workday will post 2.12 EPS for the current year.

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.