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

Shares of Workday, Inc. (NASDAQ:WDAY) have been assigned a consensus rating of “Moderate Buy” from the thirty-one research firms that are presently covering the company, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation, twenty have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $300.36.

WDAY has been the topic of several research reports. BMO Capital Markets raised their price target on shares of Workday from $300.00 to $314.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Piper Sandler lifted their target price on shares of Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. BNP Paribas raised shares of Workday to a “strong-buy” rating in a research report on Friday, February 14th. Oppenheimer raised their price objective on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group upped their target price on Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th.

Workday Stock Up 0.2 %

Shares of NASDAQ WDAY opened at $249.91 on Tuesday. The stock has a market capitalization of $66.48 billion, a PE ratio of 41.44, a P/E/G ratio of 3.55 and a beta of 1.38. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a fifty day moving average of $256.83 and a 200-day moving average of $255.05. Workday has a 52-week low of $199.81 and a 52-week high of $294.00.

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

Insider Buying and Selling

In other Workday news, CAO Mark S. Garfield sold 472 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the sale, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $261.75, for a total transaction of $14,658,000.00. Following the completion of the transaction, the insider now directly owns 172,000 shares of the company’s stock, valued at $45,021,000. This trade represents a 24.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 417,001 shares of company stock worth $105,735,200 over the last ninety days. 20.00% of the stock is owned by insiders.

Institutional Trading of Workday

Institutional investors and hedge funds have recently made changes to their positions in the stock. Simplicity Wealth LLC grew its stake in Workday by 3.0% during the 4th quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock worth $330,000 after buying an additional 37 shares during the last quarter. Marcum Wealth LLC grew its position in shares of Workday by 4.4% during the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock worth $249,000 after acquiring an additional 41 shares during the last quarter. Custom Index Systems LLC grew its position in shares of Workday by 3.0% during the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after acquiring an additional 41 shares during the last quarter. AllSquare Wealth Management LLC increased its holdings in shares of Workday by 19.4% in the 4th quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock worth $65,000 after acquiring an additional 41 shares during the period. Finally, Kingsview Wealth Management LLC lifted its position in Workday by 0.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock valued at $1,243,000 after purchasing an additional 43 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.