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

Shares of Workday, Inc. (NASDAQ:WDAY) have received a consensus recommendation of “Moderate Buy” from the thirty-five brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation, eighteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $185.0303.

A number of equities analysts have recently commented on the stock. Loop Capital set a $210.00 target price on shares of Workday in a research report on Thursday, March 12th. Monness Crespi & Hardt raised shares of Workday to a “hold” rating in a research report on Friday, May 22nd. Piper Sandler raised their target price on shares of Workday from $135.00 to $145.00 and gave the stock a “neutral” rating in a research report on Friday, May 22nd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Workday in a research note on Friday, May 22nd. Finally, Barclays raised shares of Workday from an “overweight” rating to a “buy” rating in a research note on Friday, May 22nd.

Workday Trading Down 3.9%

WDAY opened at $121.83 on Thursday. The firm has a market cap of $30.09 billion, a P/E ratio of 38.07, a P/E/G ratio of 1.34 and a beta of 1.09. Workday has a 12 month low of $110.36 and a 12 month high of $249.85. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average of $127.78 and a 200 day moving average of $157.53.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The business had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the firm posted $2.23 earnings per share. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. As a group, research analysts forecast that Workday will post 5.4 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 107,500 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $128.52, for a total transaction of $13,815,900.00. Following the completion of the sale, the insider owned 105,049 shares of the company’s stock, valued at $13,500,897.48. This represents a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Enslin sold 5,373 shares of the stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $129.41, for a total transaction of $695,319.93. Following the sale, the insider directly owned 165,414 shares of the company’s stock, valued at $21,406,225.74. The trade was a 3.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 774,814 shares of company stock valued at $102,272,866. 18.64% of the stock is owned by insiders.

Institutional Investors Weigh In On Workday

A number of large investors have recently bought and sold shares of the company. Finivi Inc. boosted its position in Workday by 3.3% in the third quarter. Finivi Inc. now owns 1,516 shares of the software maker’s stock valued at $365,000 after buying an additional 48 shares during the last quarter. Strategic Investment Advisors MI boosted its holdings in shares of Workday by 1.6% in the 2nd quarter. Strategic Investment Advisors MI now owns 3,263 shares of the software maker’s stock valued at $777,000 after acquiring an additional 50 shares during the last quarter. Legacy Financial Advisors Inc. boosted its holdings in shares of Workday by 5.1% in the 3rd quarter. Legacy Financial Advisors Inc. now owns 1,113 shares of the software maker’s stock valued at $268,000 after acquiring an additional 54 shares during the last quarter. Sagespring Wealth Partners LLC boosted its holdings in shares of Workday by 3.0% in the 4th quarter. Sagespring Wealth Partners LLC now owns 2,052 shares of the software maker’s stock valued at $441,000 after acquiring an additional 59 shares during the last quarter. Finally, CVA Family Office LLC boosted its holdings in shares of Workday by 35.3% in the 4th quarter. CVA Family Office LLC now owns 249 shares of the software maker’s stock valued at $53,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.