Workday (NASDAQ:WDAY) Rating Reiterated by BMO Capital Markets

Workday (NASDAQ:WDAY)‘s stock had its “outperform” rating restated by research analysts at BMO Capital Markets in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $300.00 target price on the software maker’s stock. BMO Capital Markets’ price objective indicates a potential upside of 21.25% from the stock’s current price.

WDAY has been the topic of a number of other research reports. Sanford C. Bernstein dropped their price objective on shares of Workday from $321.00 to $301.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. JMP Securities reissued a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Friday, May 24th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Guggenheim reiterated a “sell” rating and issued a $190.00 price target on shares of Workday in a research report on Tuesday, June 25th. Finally, DA Davidson boosted their price objective on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $286.48.

Workday Stock Performance

NASDAQ:WDAY opened at $247.43 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $237.12 and a two-hundred day moving average price of $242.47. Workday has a twelve month low of $199.81 and a twelve month high of $311.28. The company has a market capitalization of $65.57 billion, a P/E ratio of 44.58, a price-to-earnings-growth ratio of 5.07 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the company earned $0.40 earnings per share. The company’s quarterly revenue was up 16.5% on a year-over-year basis. As a group, research analysts expect that Workday will post 2.39 earnings per share for the current fiscal year.

Insider Transactions at Workday

In other news, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.29, for a total value of $812,365.09. Following the sale, the insider now owns 196,344 shares in the company, valued at $51,106,379.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $223.80, for a total value of $12,532,800.00. Following the sale, the insider now owns 674,000 shares in the company, valued at $150,841,200. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.29, for a total transaction of $812,365.09. Following the completion of the sale, the insider now owns 196,344 shares in the company, valued at approximately $51,106,379.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 410,402 shares of company stock worth $95,751,554. Insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WDAY. Dimensional Fund Advisors LP lifted its position in Workday by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 199,304 shares of the software maker’s stock worth $55,020,000 after purchasing an additional 3,231 shares during the period. Quadrant Capital Group LLC raised its position in Workday by 28.0% in the fourth quarter. Quadrant Capital Group LLC now owns 604 shares of the software maker’s stock worth $167,000 after purchasing an additional 132 shares in the last quarter. Great Lakes Advisors LLC bought a new position in Workday during the fourth quarter worth about $521,000. PNC Financial Services Group Inc. boosted its holdings in Workday by 55.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 25,720 shares of the software maker’s stock valued at $7,100,000 after purchasing an additional 9,126 shares in the last quarter. Finally, Coldstream Capital Management Inc. bought a new stake in shares of Workday in the 4th quarter valued at approximately $481,000. 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.