Workday (NASDAQ:WDAY) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Workday (NASDAQ:WDAY) from a hold rating to a buy rating in a research note published on Tuesday.

WDAY has been the subject of a number of other reports. BMO Capital Markets reiterated an “outperform” rating and issued a $300.00 target price on shares of Workday in a research note on Wednesday, September 18th. Royal Bank of Canada lifted their price objective on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Piper Sandler reissued a “neutral” rating and issued a $270.00 target price (down from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Morgan Stanley lifted their price target on Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Finally, Barclays cut their price objective on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $291.36.

Workday Stock Performance

Shares of WDAY stock opened at $251.84 on Tuesday. Workday has a 12-month low of $199.81 and a 12-month high of $311.28. The business’s fifty day simple moving average is $260.69 and its 200-day simple moving average is $244.08. 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 $66.99 billion, a PE ratio of 41.76, a PEG ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 EPS. Analysts expect that Workday will post 2.58 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $236.90, for a total value of $13,266,400.00. Following the sale, the insider now directly owns 337,000 shares of the company’s stock, valued at $79,835,300. The trade was a 14.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Richard Harry Sauer sold 3,134 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the sale, the insider now owns 85,795 shares of the company’s stock, valued at $20,228,745.10. The trade was a 3.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 361,463 shares of company stock worth $92,193,408 over the last 90 days. 20.00% of the stock is currently owned by company insiders.

Institutional Trading of Workday

Several large investors have recently bought and sold shares of WDAY. Meeder Asset Management Inc. boosted its holdings in shares of Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in Workday by 0.9% during the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after buying an additional 43 shares in the last quarter. Opal Wealth Advisors LLC lifted its position in Workday by 5.2% during the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after buying an additional 47 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its holdings in Workday by 3.4% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock valued at $324,000 after buying an additional 48 shares in the last quarter. Finally, Concord Wealth Partners increased its stake in shares of Workday by 3.0% in the 3rd quarter. Concord Wealth Partners now owns 1,765 shares of the software maker’s stock worth $431,000 after acquiring an additional 51 shares during the last quarter. 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.