Workday (NASDAQ:WDAY) Raised to “Buy” at StockNews.com

Workday (NASDAQ:WDAY) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

WDAY has been the topic of a number of other reports. Loop Capital lowered their price objective on shares of Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Scotiabank began coverage on shares of Workday in a research report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price target on the stock. Morgan Stanley raised their price objective on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Piper Sandler reiterated a “neutral” rating and set a $270.00 target price (down previously from $285.00) on shares of Workday in a report on Wednesday, November 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $300.00 price target on shares of Workday in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $291.36.

Workday Trading Down 1.5 %

Shares of NASDAQ WDAY opened at $258.03 on Tuesday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday has a twelve month low of $199.81 and a twelve month high of $311.28. The company’s fifty day moving average is $260.39 and its 200-day moving average is $244.03. The stock has a market cap of $68.64 billion, a price-to-earnings ratio of 42.79, a P/E/G ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business posted $0.47 EPS. Workday’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities research analysts predict that Workday will post 2.58 EPS for the current year.

Insider Transactions at Workday

In related news, Director Wayne A.I. Frederick sold 1,828 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the sale, the director now owns 8,674 shares in the company, valued at $2,097,806.90. This represents a 17.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sayan Chakraborty sold 5,498 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the transaction, the insider now directly owns 121,100 shares in the company, valued at approximately $30,369,458. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 361,463 shares of company stock worth $92,193,408 over the last ninety days. 20.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WDAY. Capital Performance Advisors LLP purchased a new position in shares of Workday during the third quarter valued at approximately $26,000. SouthState Corp grew its stake in shares of Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after acquiring an additional 129 shares in the last quarter. Goodman Advisory Group LLC purchased a new stake in shares of Workday in the second quarter valued at about $35,000. Meeder Asset Management Inc. lifted its position in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares in the last quarter. Finally, Asset Dedication LLC purchased a new position in Workday during the second quarter worth about $36,000. 89.81% of the stock is owned by institutional investors.

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.