Workday (NASDAQ:WDAY) Upgraded at Daiwa America

Workday (NASDAQ:WDAY) was upgraded by investment analysts at Daiwa America to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts also recently commented on WDAY. Wells Fargo & Company lifted their target price on Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and raised their price objective for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. Citigroup decreased their target price on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. JMP Securities reissued a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Thursday, February 6th. Finally, Redburn Atlantic began coverage on Workday in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $302.14.

Workday Stock Up 2.4 %

Workday stock opened at $259.61 on Tuesday. The company has a fifty day simple moving average of $258.98 and a 200 day simple moving average of $255.49. Workday has a 1-year low of $199.81 and a 1-year high of $294.00. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market cap of $69.06 billion, a P/E ratio of 43.05, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Research analysts anticipate that Workday will post 2.63 earnings per share for the current fiscal year.

Insider Transactions at Workday

In other news, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the transaction, the insider now owns 111,324 shares of the company’s stock, valued at $29,556,522. This represents a 5.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total value of $15,692,670.00. Following the transaction, the insider now directly owns 284,000 shares in the company, valued at approximately $78,188,040. This trade represents a 16.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 435,829 shares of company stock worth $113,033,319. Company insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WDAY. Vanguard Group Inc. increased its holdings in Workday by 28.9% during the 4th 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 in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in Workday during the fourth quarter worth $658,735,000. Norges Bank purchased a new stake in Workday in the 4th quarter valued at $645,710,000. Parnassus Investments LLC lifted its stake in Workday by 562.2% during the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock valued at $631,589,000 after acquiring an additional 2,078,097 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in 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 during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.