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

by · The Cerbat Gem

Workday, Inc. (NASDAQ:WDAY – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the thirty-nine research firms that are currently covering the company, Marketbeat.com reports. Twelve research analysts have rated the stock with a hold recommendation, twenty-five have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $281.1613.

WDAY has been the subject of several recent analyst reports. DA Davidson cut their target price on Workday from $260.00 to $250.00 and set a “hold” rating for the company in a research note on Wednesday, November 26th. Wells Fargo & Company reduced their price objective on Workday from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Barclays lowered their target price on Workday from $288.00 to $280.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Canaccord Genuity Group dropped their target price on shares of Workday from $330.00 to $275.00 and set a “buy” rating for the company in a report on Friday, August 22nd. Finally, BMO Capital Markets decreased their price target on shares of Workday from $314.00 to $285.00 and set an “outperform” rating on the stock in a report on Friday, August 22nd.

Read Our Latest Stock Analysis on Workday

Insider Activity at Workday

In other Workday news, Director Michael M. Mcnamara sold 5,393 shares of the company’s stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $235.16, for a total value of $1,268,217.88. Following the completion of the transaction, the director owned 24,078 shares of the company’s stock, valued at $5,662,182.48. This represents a 18.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Richard Harry Sauer sold 2,320 shares of the stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $235.87, for a total value of $547,218.40. Following the completion of the transaction, the insider owned 90,077 shares of the company’s stock, valued at $21,246,461.99. This represents a 2.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 346,958 shares of company stock valued at $78,880,645. 19.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Workday

Several hedge funds have recently added to or reduced their stakes in WDAY. Verdence Capital Advisors LLC raised its stake in shares of Workday by 1.0% during the second quarter. Verdence Capital Advisors LLC now owns 4,381 shares of the software maker’s stock valued at $1,051,000 after acquiring an additional 45 shares during the last quarter. Bristlecone Advisors LLC increased its holdings in Workday by 1.6% in the first quarter. Bristlecone Advisors LLC now owns 2,968 shares of the software maker’s stock valued at $693,000 after purchasing an additional 47 shares during the period. Perennial Investment Advisors LLC raised its position in Workday by 2.8% during the 2nd quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker’s stock worth $418,000 after purchasing an additional 48 shares during the last quarter. Johnson Investment Counsel Inc. lifted its holdings in Workday by 2.3% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,201 shares of the software maker’s stock worth $528,000 after buying an additional 49 shares during the period. Finally, Bay Harbor Wealth Management LLC lifted its holdings in Workday by 12.0% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker’s stock worth $110,000 after buying an additional 49 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Stock Performance

WDAY opened at $216.62 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83. Workday has a 52-week low of $205.33 and a 52-week high of $294.00. The firm has a market cap of $57.84 billion, a P/E ratio of 91.02, a price-to-earnings-growth ratio of 2.60 and a beta of 1.15. The business’s fifty day moving average is $231.04 and its 200-day moving average is $234.36.

Workday (NASDAQ:WDAY – Get Free Report) last posted its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the prior year, the business posted $1.89 earnings per share. Workday’s revenue was up 12.6% compared to the same quarter last year. Sell-side analysts expect that Workday will post 2.63 EPS for the current fiscal year.

Workday Company Profile

(Get Free Report)

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.

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