Workday’s (WDAY) “Neutral” Rating Reiterated at BTIG Research

Workday (NASDAQ:WDAY)‘s stock had its “neutral” rating restated by equities research analysts at BTIG Research in a report released on Monday, Marketbeat.com reports.

Several other equities analysts have also recently commented on WDAY. Royal Bank Of Canada reissued an “outperform” rating on shares of Workday in a research note on Friday, May 22nd. Piper Sandler reaffirmed a “neutral” rating and issued a $145.00 price objective on shares of Workday in a research note on Friday. Barclays raised shares of Workday from an “overweight” rating to a “buy” rating in a research note on Friday, May 22nd. William Blair upgraded Workday to a “strong-buy” rating in a research report on Friday, May 22nd. Finally, Lake Street Capital set a $205.00 target price on Workday in a report on Friday. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Workday has an average rating of “Moderate Buy” and an average price target of $187.36.

Workday Stock Performance

NASDAQ:WDAY opened at $198.68 on Monday. Workday has a 12-month low of $110.36 and a 12-month high of $249.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50 day simple moving average of $144.40 and a 200 day simple moving average of $138.94. The firm has a market capitalization of $49.07 billion, a P/E ratio of 62.09, a P/E/G ratio of 2.11 and a beta of 1.08.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $2.52 billion. During the same quarter last year, the company earned $2.23 EPS. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. Equities research analysts predict that Workday will post 5.38 EPS for the current year.

Insider Activity at Workday

In other Workday news, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total value of $862,200.00. Following the completion of the sale, the chief financial officer owned 288,460 shares of the company’s stock, valued at $41,451,702. The trade was a 2.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. Also, insider Robert Enslin sold 5,374 shares of the business’s stock in a transaction that occurred on Sunday, July 5th. The stock was sold at an average price of $134.90, for a total value of $724,952.60. Following the completion of the sale, the insider owned 239,469 shares of the company’s stock, valued at approximately $32,304,368.10. This trade represents a 2.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 quarter, insiders have sold 875,020 shares of company stock valued at $113,938,503. 18.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Workday

A number of hedge funds have recently bought and sold shares of the company. First Bancorp Inc ME bought a new stake in Workday during the 2nd quarter valued at approximately $245,000. Manning & Napier Advisors LLC bought a new stake in shares of Workday in the second quarter valued at about $42,000. Ally Financial Inc. bought a new position in Workday during the second quarter valued at about $3,183,000. Madison Asset Management LLC bought a new stake in shares of Workday in the 2nd quarter worth approximately $11,833,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of Workday during the 2nd quarter worth approximately $1,115,000. 89.81% of the stock is currently owned by institutional investors.

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.