Workday (NASDAQ:WDAY) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Workday (NASDAQ:WDAY) in a report issued on Monday morning,Benzinga reports. They currently have a $300.00 price objective on the software maker’s stock.

A number of other equities research analysts also recently issued reports on the company. DA Davidson boosted their price target on Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Loop Capital boosted their price objective on Workday from $255.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Bank of America boosted their price objective on Workday from $265.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Barclays boosted their price objective on Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Scotiabank initiated coverage on Workday in a research note on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $289.46.

Workday Trading Down 0.0 %

Workday stock opened at $267.69 on Monday. The business has a 50-day simple moving average of $248.08 and a two-hundred day simple moving average of $237.05. The company has a market cap of $70.94 billion, a P/E ratio of 46.64, a P/E/G ratio of 5.31 and a beta of 1.35. Workday has a 52-week low of $199.81 and a 52-week high of $311.28. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

Insider Activity at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the sale, the director now owns 90,000 shares in the company, valued at approximately $22,990,500. This represents a 7.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the sale, the director now owns 8,674 shares in the company, valued at $2,097,806.90. The trade was a 17.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 359,954 shares of company stock worth $88,742,132. Company insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Synovus Financial Corp increased its stake in Workday by 5.7% in the third quarter. Synovus Financial Corp now owns 19,590 shares of the software maker’s stock worth $4,788,000 after purchasing an additional 1,051 shares during the period. Tidal Investments LLC increased its stake in Workday by 43.8% in the third quarter. Tidal Investments LLC now owns 13,546 shares of the software maker’s stock worth $3,311,000 after purchasing an additional 4,128 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Workday in the third quarter worth $4,893,000. Sanctuary Advisors LLC increased its stake in Workday by 7.2% in the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after purchasing an additional 1,978 shares during the period. Finally, Anchor Investment Management LLC increased its stake in Workday by 6.1% in the third quarter. Anchor Investment Management LLC now owns 6,352 shares of the software maker’s stock worth $1,552,000 after purchasing an additional 368 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

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.