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

Shares of Workday, Inc. (NASDAQ:WDAY) have been assigned an average recommendation of “Moderate Buy” from the twenty-eight research firms that are currently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $292.25.

A number of brokerages have issued reports on WDAY. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and upped their target price for the company from $265.00 to $300.00 in a research report on Wednesday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Workday in a research note on Wednesday, September 18th. Loop Capital decreased their price target on shares of Workday from $270.00 to $242.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. Mizuho increased their target price on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Guggenheim raised shares of Workday from a “sell” rating to a “neutral” rating in a research note on Monday.

Workday Trading Up 2.0 %

NASDAQ:WDAY opened at $254.69 on Thursday. Workday has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock’s 50 day simple moving average is $261.93 and its 200-day simple moving average is $245.44. The firm has a market cap of $67.75 billion, a P/E ratio of 42.24, a PEG ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Workday’s revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.47 earnings per share. Equities analysts anticipate that Workday will post 2.58 EPS for the current year.

Insider Activity

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the transaction, the chief executive officer now owns 13,972 shares in the company, valued at $3,546,931.92. This trade represents a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Wayne A.I. Frederick sold 1,828 shares of Workday 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 directly owns 8,674 shares of the company’s stock, valued at $2,097,806.90. This represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 370,085 shares of company stock valued at $95,380,557 in the last ninety days. 20.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Workday

Several large investors have recently bought and sold shares of WDAY. The Manufacturers Life Insurance Company increased its stake in shares of Workday by 79.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after buying an additional 1,016,394 shares during the period. Two Sigma Advisers LP raised its position in shares of Workday by 1,094.2% during the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock worth $150,019,000 after purchasing an additional 562,400 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after acquiring an additional 480,459 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Workday in the third quarter valued at approximately $78,003,000. Finally, D1 Capital Partners L.P. lifted its stake in Workday by 152.1% during the 2nd quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock worth $115,804,000 after acquiring an additional 312,500 shares in the last quarter. 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.