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

Shares of Workday, Inc. (NASDAQ:WDAY) have been assigned a consensus recommendation of “Moderate Buy” from the forty brokerages that are currently covering the stock, MarketBeat.com reports. Twelve research analysts have rated the stock with a hold recommendation, twenty-six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $282.2188.

A number of equities analysts have recently issued reports on the stock. Citigroup reduced their target price on shares of Workday from $261.00 to $247.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 26th. Oppenheimer reaffirmed an “outperform” rating on shares of Workday in a research note on Wednesday, November 26th. JPMorgan Chase & Co. lowered their target price on shares of Workday from $290.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Loop Capital set a $280.00 price target on Workday in a research note on Wednesday, December 10th. Finally, BTIG Research started coverage on Workday in a research note on Tuesday, December 16th. They set a “buy” rating and a $285.00 price objective on the stock.

Insider Transactions at Workday

In related news, CAO Mark S. Garfield sold 1,915 shares of the company’s stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $238.96, for a total transaction of $457,608.40. Following the sale, the chief accounting officer owned 37,351 shares in the company, valued at approximately $8,925,394.96. This represents a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $232.62, for a total value of $1,395,720.00. Following the sale, the chief financial officer owned 168,468 shares in the company, valued at approximately $39,189,026.16. This represents a 3.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 266,937 shares of company stock worth $59,316,578. 19.31% of the stock is owned by insiders.

Institutional Trading of Workday

Large investors have recently added to or reduced their stakes in the company. Rakuten Securities Inc. bought a new stake in shares of Workday in the 2nd quarter valued at about $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 acquired a new stake in shares of Workday in the third quarter valued at approximately $30,000. Berbice Capital Management LLC boosted its stake in shares of Workday by 136.4% during the 2nd quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock worth $31,000 after acquiring an additional 75 shares during the period. Finally, Golden State Wealth Management LLC increased its holdings in shares of Workday by 2,216.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock worth $33,000 after acquiring an additional 133 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Up 0.4%

WDAY opened at $216.25 on Thursday. The company has a market capitalization of $56.87 billion, a P/E ratio of 90.86, a P/E/G ratio of 2.43 and a beta of 1.15. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83. The firm’s fifty day moving average price is $225.89 and its two-hundred day moving average price is $231.00. Workday has a fifty-two week low of $205.33 and a fifty-two week high of $283.68.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.15. Workday had a return on equity of 10.50% and a net margin of 6.95%.The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the previous year, the business earned $1.89 earnings per share. The company’s quarterly revenue was up 12.6% on a year-over-year basis. On average, analysts anticipate that Workday will post 2.63 EPS for the current 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.