Workday (NASDAQ:WDAY) Coverage Initiated by Analysts at Redburn Atlantic

Redburn Atlantic started coverage on shares of Workday (NASDAQ:WDAY) in a research note published on Wednesday, MarketBeat Ratings reports. The firm issued a neutral rating on the software maker’s stock.

Several other analysts also recently weighed in on the company. The Goldman Sachs Group upped their price target on Workday from $300.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Oppenheimer restated an “outperform” rating and set a $300.00 price target on shares of Workday in a report on Tuesday, December 3rd. BNP Paribas upgraded shares of Workday to a “strong-buy” rating in a research note on Friday, February 14th. Wells Fargo & Company upped their target price on shares of Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Workday in a research report on Thursday, February 6th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $291.11.

Workday Stock Down 1.7 %

Shares of NASDAQ:WDAY opened at $261.10 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. Workday has a 52-week low of $199.81 and a 52-week high of $311.28. The firm has a market capitalization of $69.45 billion, a P/E ratio of 43.30, a P/E/G ratio of 3.51 and a beta of 1.35. The stock has a 50 day moving average price of $261.36 and a 200-day moving average price of $252.47.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business posted $0.47 EPS. The company’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, equities research analysts anticipate that Workday will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the completion of the sale, the insider now directly owns 284,000 shares of the company’s stock, valued at $78,188,040. This trade represents a 16.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the sale, the director now owns 6,845 shares in the company, valued at approximately $1,732,401.05. The trade was a 21.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 438,819 shares of company stock valued at $113,142,592 over the last ninety days. 20.00% of the stock is currently owned by company insiders.

Institutional Trading of Workday

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after buying an additional 480,459 shares in the last quarter. State Street Corp increased 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 worth $1,183,611,000 after acquiring an additional 67,380 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Workday by 61.9% during the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock worth $1,193,105,000 after acquiring an additional 1,772,223 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Workday by 60.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker’s stock valued at $960,454,000 after acquiring an additional 1,406,088 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

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.