Workday, Inc. (NASDAQ:WDAY) Receives $293.54 Average Target Price from Analysts

Workday, Inc. (NASDAQ:WDAY) has received an average rating of “Moderate Buy” from the twenty-eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $293.54.

WDAY has been the topic of a number of analyst reports. Guggenheim reissued a “neutral” rating on shares of Workday in a research report on Friday, May 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $340.00 target price on shares of Workday in a report on Friday, May 23rd. DA Davidson raised their target price on Workday from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Friday, May 23rd. Westpark Capital raised their target price on Workday from $315.00 to $328.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 target price on shares of Workday in a report on Wednesday, May 21st.

Workday Trading Down 2.5%

Shares of NASDAQ:WDAY opened at $244.54 on Friday. The company has a market capitalization of $65.29 billion, a P/E ratio of 40.55, a P/E/G ratio of 3.55 and a beta of 1.24. Workday has a 1 year low of $199.81 and a 1 year high of $294.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The business’s 50 day simple moving average is $245.50 and its 200 day simple moving average is $252.47.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.22. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.74 earnings per share. On average, research analysts anticipate that Workday will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling

In other Workday news, CEO Carl M. Eschenbach sold 3,125 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total transaction of $733,156.25. Following the completion of the sale, the chief executive officer now directly owns 10,847 shares in the company, valued at approximately $2,544,814.67. This trade represents a 22.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 81,275 shares of the stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total value of $17,448,117.00. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $22,111,395.96. The trade was a 44.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 237,338 shares of company stock valued at $56,281,251 in the last three months. Insiders own 19.31% of the company’s stock.

Institutional Trading of Workday

A number of large investors have recently bought and sold shares of WDAY. Brighton Jones LLC grew its holdings in Workday by 230.2% during the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after acquiring an additional 2,792 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in Workday during the 4th quarter worth about $8,984,000. Mather Group LLC. grew its holdings in Workday by 11.5% during the 4th quarter. Mather Group LLC. now owns 590 shares of the software maker’s stock worth $152,000 after acquiring an additional 61 shares during the period. Retirement Systems of Alabama acquired a new stake in shares of Workday in the 4th quarter valued at about $11,900,000. Finally, Stratos Wealth Partners LTD. grew its stake in shares of Workday by 60.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,407 shares of the software maker’s stock valued at $363,000 after buying an additional 529 shares during the period. 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.