Workday, Inc. (NASDAQ:WDAY) Receives Average Recommendation of “Moderate Buy” from Analysts

Workday, Inc. (NASDAQ:WDAY) has received a consensus rating of “Moderate Buy” from the thirty-five brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $184.00.

Several research analysts have commented on the company. Royal Bank Of Canada reissued an “outperform” rating on shares of Workday in a research note on Friday, May 22nd. Wolfe Research reaffirmed an “outperform” rating and set a $160.00 price target on shares of Workday in a report on Friday, May 22nd. BTIG Research reiterated a “buy” rating and set a $175.00 price objective on shares of Workday in a research report on Monday, May 18th. Weiss Ratings reissued a “sell (d+)” rating on shares of Workday in a research note on Wednesday, June 17th. Finally, HC Wainwright set a $140.00 target price on shares of Workday in a research report on Wednesday, May 27th.

Insider Activity at Workday

In other news, insider Gerrit S. Kazmaier sold 2,728 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $143.62, for a total value of $391,795.36. Following the completion of the transaction, the insider directly owned 266,388 shares in the company, valued at approximately $38,258,644.56. This represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Robert Enslin sold 5,374 shares of the firm’s stock in a transaction on Sunday, July 5th. The shares were sold at an average price of $134.90, for a total value of $724,952.60. Following the sale, the insider directly owned 239,469 shares in the company, valued at approximately $32,304,368.10. This trade represents a 2.19% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 766,602 shares of company stock valued at $99,108,423 over the last three months. 18.64% of the stock is currently owned by corporate insiders.

Institutional Trading of Workday

Hedge funds have recently made changes to their positions in the company. Annex Advisory Services LLC bought a new stake in shares of Workday during the second quarter worth about $591,000. Tema ETFs LLC raised its holdings in Workday by 34.9% in the 2nd quarter. Tema ETFs LLC now owns 4,515 shares of the software maker’s stock valued at $553,000 after buying an additional 1,167 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in Workday by 57.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 126,296 shares of the software maker’s stock valued at $15,461,000 after buying an additional 46,051 shares during the last quarter. Sapient Capital LLC acquired a new stake in Workday during the 2nd quarter worth approximately $13,045,000. Finally, Fluent Financial LLC bought a new stake in Workday during the 2nd quarter worth approximately $2,249,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Stock Performance

Shares of WDAY stock opened at $138.95 on Monday. The stock’s fifty day moving average price is $129.78 and its two-hundred day moving average price is $146.63. The company has a market cap of $34.32 billion, a PE ratio of 43.42, a P/E/G ratio of 1.49 and a beta of 1.11. Workday has a fifty-two week low of $110.36 and a fifty-two week high of $249.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.15. The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.Workday’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.23 EPS. Equities analysts predict that Workday will post 5.34 EPS 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.