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

Workday, Inc. (NASDAQ:WDAY) has received a consensus recommendation of “Moderate Buy” from the twenty-eight ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and twenty-one have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $289.46.

Several analysts have recently issued reports on WDAY shares. Scotiabank initiated coverage on Workday in a research note on Monday. They issued a “sector outperform” rating and a $340.00 price objective on the stock. Needham & Company LLC decreased their price objective on Workday from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. DA Davidson upped their target price on shares of Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. The Goldman Sachs Group raised their target price on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Bank of America increased their price objective on shares of Workday from $265.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 23rd.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. This represents a 39.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total transaction of $738,934.52. Following the completion of the sale, the insider now directly owns 85,795 shares in the company, valued at approximately $20,228,745.10. The trade was a 3.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 370,575 shares of company stock valued at $91,506,897 in the last ninety days. Insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

A number of large investors have recently modified their holdings of the business. O Shaughnessy Asset Management LLC grew its holdings in Workday by 42.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 13,380 shares of the software maker’s stock worth $3,649,000 after acquiring an additional 3,965 shares during the period. Bessemer Group Inc. grew its stake in shares of Workday by 13.4% during the 1st quarter. Bessemer Group Inc. now owns 2,396 shares of the software maker’s stock worth $654,000 after purchasing an additional 283 shares during the period. Lake Street Advisors Group LLC purchased a new position in shares of Workday in the 1st quarter valued at about $214,000. MQS Management LLC acquired a new stake in shares of Workday in the first quarter valued at about $379,000. Finally, Crewe Advisors LLC purchased a new stake in Workday during the first quarter worth about $27,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Up 0.2 %

Shares of NASDAQ:WDAY opened at $259.90 on Wednesday. The firm has a market capitalization of $68.87 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 5.15 and a beta of 1.35. Workday has a 1 year low of $199.81 and a 1 year high of $311.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The firm’s 50-day moving average is $246.94 and its two-hundred day moving average is $236.57.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the prior year, the firm earned $0.40 EPS. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. Analysts predict that Workday will post 2.4 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.