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

Workday, Inc. (NASDAQ:WDAY) has earned a consensus rating of “Moderate Buy” from the thirty-six ratings firms that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $179.80.

WDAY has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price target on Workday from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Friday, May 22nd. Summit Redstone set a $275.00 target price on shares of Workday in a research report on Wednesday, May 27th. DA Davidson set a $135.00 price target on shares of Workday in a research report on Tuesday, May 26th. Wolfe Research reiterated an “outperform” rating and set a $160.00 price objective on shares of Workday in a research report 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.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 107,500 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $136.74, for a total value of $14,699,550.00. Following the transaction, the insider owned 105,049 shares in the company, valued at $14,364,400.26. The trade was a 50.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit S. Kazmaier sold 2,728 shares of Workday stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $143.62, for a total transaction of $391,795.36. Following the completion of the sale, the insider owned 266,388 shares of the company’s stock, valued at $38,258,644.56. This trade represents a 1.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders sold 875,020 shares of company stock valued at $113,938,503 in the last quarter. Corporate insiders own 18.64% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Auto Owners Insurance Co increased its stake in Workday by 25,412.8% in the fourth quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock valued at $2,197,332,000 after acquiring an additional 10,190,516 shares during the period. Vanguard Group Inc. boosted its holdings in Workday by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock valued at $5,371,495,000 after purchasing an additional 3,210,232 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Workday by 101.4% during the fourth quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker’s stock valued at $1,077,537,000 after purchasing an additional 2,525,821 shares in the last quarter. Norges Bank bought a new stake in shares of Workday in the 4th quarter valued at approximately $448,804,000. Finally, First Eagle Investment Management LLC raised its holdings in shares of Workday by 87.8% in the 4th quarter. First Eagle Investment Management LLC now owns 4,338,773 shares of the software maker’s stock worth $931,882,000 after buying an additional 2,028,085 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Trading Down 0.2%

Shares of Workday stock opened at $170.24 on Friday. The business has a fifty day simple moving average of $139.72 and a 200-day simple moving average of $138.91. Workday has a fifty-two week low of $110.36 and a fifty-two week high of $249.85. The firm has a market cap of $42.05 billion, a price-to-earnings ratio of 53.20, a price-to-earnings-growth ratio of 1.82 and a beta of 1.08. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping the consensus estimate of $2.51 by $0.15. The firm had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. Workday’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.23 earnings per share. On average, equities analysts forecast that Workday will post 5.38 EPS for the current fiscal year.

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.