Analysts Set Workday, Inc. (NASDAQ:WDAY) Price Target at $278.09

Workday, Inc. (NASDAQ:WDAY) has received a consensus rating of “Moderate Buy” from the thirty-nine analysts that are currently covering the company, MarketBeat Ratings reports. Thirteen investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $278.0938.

Several analysts recently commented on WDAY shares. Raymond James Financial started coverage on shares of Workday in a research note on Friday, November 21st. They set a “market perform” rating for the company. KeyCorp dropped their price target on Workday from $285.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. BTIG Research began coverage on Workday in a research note on Tuesday, December 16th. They set a “buy” rating and a $285.00 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of Workday in a report on Wednesday, October 8th. Finally, Rosenblatt Securities assumed coverage on Workday in a report on Tuesday, December 2nd. They set a “neutral” rating and a $235.00 target price for the company.

Insider Buying and Selling

In other Workday news, CEO Carl M. Eschenbach sold 3,125 shares of Workday stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $210.00, for a total transaction of $656,250.00. Following the transaction, the chief executive officer directly owned 17,097 shares in the company, valued at approximately $3,590,370. The trade was a 15.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 82,884 shares of the business’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $209.75, for a total transaction of $17,384,919.00. Following the sale, the insider directly owned 105,049 shares in the company, valued at approximately $22,034,027.75. This trade represents a 44.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 370,321 shares of company stock valued at $78,866,401. Company insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Brighton Jones LLC boosted its position in Workday by 230.2% during the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after acquiring an additional 2,792 shares during the period. Empowered Funds LLC increased its holdings in shares of Workday by 12.1% in the 1st quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock valued at $2,602,000 after purchasing an additional 1,206 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Workday by 211.7% in the first quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock worth $44,000 after purchasing an additional 127 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Workday during the second quarter worth approximately $281,000. Finally, Focus Financial Network Inc. grew its position in Workday by 3.9% during the second quarter. Focus Financial Network Inc. now owns 2,065 shares of the software maker’s stock valued at $496,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Up 0.6%

Shares of WDAY stock opened at $189.26 on Monday. Workday has a 1 year low of $180.56 and a 1 year high of $283.68. The stock has a market cap of $49.78 billion, a PE ratio of 79.52, a price-to-earnings-growth ratio of 2.13 and a beta of 1.14. The business’s fifty day moving average is $212.32 and its 200-day moving average is $224.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.15. Workday had a return on equity of 10.50% and a net margin of 6.95%.The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter last year, the business posted $1.89 earnings per share. The company’s quarterly revenue was up 12.6% on a year-over-year basis. Equities analysts expect that Workday will post 2.63 earnings per share for the current fiscal year.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.