Workday (NASDAQ:WDAY) Given Market Outperform Rating at Citizens Jmp

Workday (NASDAQ:WDAY)‘s stock had its “market outperform” rating restated by research analysts at Citizens Jmp in a report issued on Wednesday,Benzinga reports. They currently have a $315.00 price target on the software maker’s stock. Citizens Jmp’s price target would suggest a potential upside of 46.38% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets cut their price target on Workday from $314.00 to $285.00 and set an “outperform” rating for the company in a report on Friday, August 22nd. Sanford C. Bernstein cut their target price on Workday from $304.00 to $298.00 and set an “outperform” rating for the company in a research note on Wednesday. Cantor Fitzgerald restated an “overweight” rating and set a $265.00 price objective on shares of Workday in a research report on Wednesday, September 17th. Stifel Nicolaus decreased their target price on shares of Workday from $255.00 to $235.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, TD Cowen dropped their price target on shares of Workday from $310.00 to $290.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $284.33.

Workday Stock Down 7.9%

Workday stock opened at $215.19 on Wednesday. The business’s 50-day simple moving average is $234.34 and its two-hundred day simple moving average is $236.62. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.10 and a current ratio of 2.10. The company has a market cap of $57.46 billion, a PE ratio of 100.21, a PEG ratio of 2.83 and a beta of 1.11. Workday has a fifty-two week low of $205.33 and a fifty-two week high of $294.00.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.15. The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.42 billion. Workday had a return on equity of 9.74% and a net margin of 6.51%.The company’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 earnings per share. Equities analysts anticipate that Workday will post 2.63 EPS for the current year.

Insider Buying and Selling

In other news, CAO Mark S. Garfield sold 1,915 shares of Workday stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $238.96, for a total value of $457,608.40. Following the completion of the transaction, the chief accounting officer owned 37,351 shares in the company, valued at approximately $8,925,394.96. This trade represents a 4.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Richard Harry Sauer sold 2,320 shares of the business’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $235.87, for a total value of $547,218.40. Following the transaction, the insider directly owned 90,077 shares of the company’s stock, valued at approximately $21,246,461.99. This represents a 2.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 264,933 shares of company stock worth $61,475,760 over the last ninety days. Company insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

Institutional investors have recently modified their holdings of the company. Rakuten Securities Inc. purchased a new position in Workday during the 2nd quarter worth approximately $25,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Workday in the third quarter valued at approximately $26,000. JPL Wealth Management LLC purchased a new position in shares of Workday during the third quarter worth approximately $30,000. Dagco Inc. acquired a new position in shares of Workday in the 1st quarter valued at $31,000. Finally, Berbice Capital Management LLC increased its holdings in shares of Workday by 136.4% in the 2nd quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock valued at $31,000 after acquiring an additional 75 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Company Profile

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.