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 research report issued to clients and investors on Tuesday.

A number of other research firms also recently commented on WDAY. Oppenheimer reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Workday in a report on Tuesday, December 3rd. Piper Sandler restated a “neutral” rating and set a $270.00 price target (down previously from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Canaccord Genuity Group reiterated a “buy” rating and issued a $300.00 price objective on shares of Workday in a research note on Friday, September 13th. Needham & Company LLC restated a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Monday, November 25th. Finally, Royal Bank of Canada upped their price target on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus price target of $291.36.

Workday Trading Up 1.4 %

Workday stock opened at $269.04 on Tuesday. The business has a 50 day moving average price of $257.95 and a two-hundred day moving average price of $242.02. 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 12 month low of $199.81 and a 12 month high of $311.28. The stock has a market cap of $71.56 billion, a price-to-earnings ratio of 44.62, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday’s revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 earnings per share. As a group, equities analysts forecast that Workday will post 2.58 EPS for the current year.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $236.90, for a total value of $13,266,400.00. Following the transaction, the insider now owns 337,000 shares of the company’s stock, valued at approximately $79,835,300. This represents a 14.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the transaction, the insider now owns 85,795 shares in the company, valued at approximately $20,228,745.10. This trade represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 305,463 shares of company stock worth $76,261,968 in the last quarter. 20.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Workday

Hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Workday in the 3rd quarter valued at $26,000. SouthState Corp increased its holdings in shares of Workday by 614.3% in the second 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. Crewe Advisors LLC raised its position in shares of Workday by 56.6% during the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock worth $35,000 after purchasing an additional 56 shares during the period. Goodman Advisory Group LLC bought a new position in shares of Workday during the 2nd quarter valued at about $35,000. Finally, Meeder Asset Management Inc. grew its position in shares of Workday by 42.2% in the 3rd 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 during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.