Workday, Inc. (NASDAQ:WDAY) Receives $300.36 Average Price Target from Brokerages

Workday, Inc. (NASDAQ:WDAY) has been given a consensus rating of “Moderate Buy” by the thirty-one ratings firms that are presently covering the stock, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation, twenty have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $300.18.

Several research firms recently commented on WDAY. Oppenheimer raised their price objective on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price target on shares of Workday in a report on Thursday, February 6th. Morgan Stanley lowered Workday from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $330.00 to $275.00 in a research note on Wednesday, February 19th. Stifel Nicolaus raised their target price on Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research note on Wednesday, February 26th. Finally, Canaccord Genuity Group upped their price target on Workday from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th.

Insiders Place Their Bets

In other news, Director Wayne A.I. Frederick sold 1,829 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total value of $462,901.61. Following the completion of the sale, the director now owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. The trade was a 21.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Mark S. Garfield sold 472 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 431,145 shares of company stock valued at $108,631,438 over the last three months. Insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Workday in the fourth quarter valued at about $18,401,000. Castle Rock Wealth Management LLC purchased a new position in Workday during the 4th quarter valued at about $1,089,000. Park Square Financial Group LLC bought a new position in Workday during the 4th quarter valued at approximately $117,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Workday in the 4th quarter worth approximately $117,259,000. Finally, Azzad Asset Management Inc. ADV grew its position in shares of Workday by 0.8% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 9,187 shares of the software maker’s stock worth $2,371,000 after buying an additional 71 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Down 2.1 %

Shares of NASDAQ WDAY opened at $233.53 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The stock has a market capitalization of $62.12 billion, a PE ratio of 38.73, a P/E/G ratio of 3.55 and a beta of 1.38. Workday has a one year low of $199.81 and a one year high of $294.00. The business’s fifty day moving average price is $256.35 and its 200-day moving average price is $254.69.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, equities research analysts anticipate that Workday will post 2.63 EPS 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.