Workday, Inc. (NASDAQ:WDAY) Receives $293.61 Average Price Target from Brokerages

Shares of Workday, Inc. (NASDAQ:WDAY) have been given a consensus rating of “Moderate Buy” by the twenty-eight ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $293.61.

WDAY has been the subject of a number of recent analyst reports. Citigroup lifted their price objective on shares of Workday from $270.00 to $293.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. Evercore ISI lifted their price objective on shares of Workday from $310.00 to $350.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Stifel Nicolaus boosted their target price on shares of Workday from $250.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, February 27th. StockNews.com cut shares of Workday from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 8th. Finally, Needham & Company LLC boosted their target price on shares of Workday from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th.

Insider Buying and Selling at Workday

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the transaction, the insider now directly owns 165,932 shares in the company, valued at approximately $48,749,162.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director George J. Still, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total value of $1,352,600.00. Following the transaction, the director now directly owns 105,000 shares in the company, valued at approximately $28,404,600. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the transaction, the insider now owns 165,932 shares in the company, valued at $48,749,162.28. The disclosure for this sale can be found here. Insiders have sold 435,691 shares of company stock worth $117,731,569 in the last ninety days. 21.09% of the stock is owned by insiders.

Hedge Funds Weigh In On Workday

Several large investors have recently made changes to their positions in WDAY. Cambridge Investment Research Advisors Inc. increased its stake in Workday by 1.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 18,382 shares of the software maker’s stock worth $3,949,000 after buying an additional 224 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Workday by 11.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 9,874 shares of the software maker’s stock worth $2,121,000 after buying an additional 1,018 shares during the period. Simon Quick Advisors LLC purchased a new stake in Workday during the 3rd quarter worth approximately $209,000. Stratos Wealth Partners LTD. increased its stake in Workday by 5.1% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,292 shares of the software maker’s stock worth $278,000 after buying an additional 63 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its stake in Workday by 1.0% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 98,200 shares of the software maker’s stock worth $21,098,000 after buying an additional 1,000 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Trading Down 2.3 %

NASDAQ WDAY opened at $249.91 on Friday. The company has a market capitalization of $65.98 billion, a PE ratio of 48.53, a P/E/G ratio of 6.39 and a beta of 1.33. The company has a fifty day moving average of $266.93 and a 200 day moving average of $265.79. Workday has a 1 year low of $174.25 and a 1 year high of $311.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97.

Workday (NASDAQ:WDAY) last posted its earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.10. Workday had a net margin of 19.02% and a return on equity of 4.87%. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the previous year, the firm posted ($0.14) earnings per share. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. Research analysts forecast that Workday will post 1.76 earnings per share for the current year.

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.