Workday (NASDAQ:WDAY) Upgraded to “Buy” at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Workday (NASDAQ:WDAY) from a hold rating to a buy rating in a research report released on Wednesday morning, Marketbeat.com reports. The brokerage currently has $300.00 target price on the software maker’s stock, up from their prior target price of $265.00.

A number of other equities research analysts also recently issued reports on the stock. Scotiabank began coverage on shares of Workday in a research note on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price objective on the stock. Mizuho upped their price objective on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Loop Capital decreased their target price on Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Barclays reduced their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company increased their price target on Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Seven investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $292.25.

Workday Trading Up 2.0 %

Shares of Workday stock opened at $254.69 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The firm has a 50-day moving average of $261.93 and a 200-day moving average of $245.44. Workday has a 52-week low of $199.81 and a 52-week high of $311.28. The stock has a market cap of $67.75 billion, a PE ratio of 42.24, a PEG ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. As a group, sell-side analysts forecast that Workday will post 2.58 EPS for the current year.

Insider Buying and Selling

In other news, insider Richard Harry Sauer sold 3,677 shares of Workday stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $251.90, for a total transaction of $926,236.30. Following the sale, the insider now directly owns 79,576 shares in the company, valued at $20,045,194.40. The trade was a 4.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the transaction, the chief executive officer now owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 370,085 shares of company stock worth $95,380,557. 20.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Workday

Several institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC raised its position in shares of Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after purchasing an additional 480,459 shares during the period. State Street Corp grew its stake in Workday by 1.4% in the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after buying an additional 67,380 shares in the last quarter. Geode Capital Management LLC raised its holdings in Workday by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after acquiring an additional 76,618 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Workday by 0.6% during the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after acquiring an additional 14,159 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Workday by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock worth $482,133,000 after acquiring an additional 75,747 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

About Workday

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.