Workday (NASDAQ:WDAY) Research Coverage Started at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Workday (NASDAQ:WDAY) in a research report report published on Monday, MarketBeat reports. The firm issued a hold rating and a $238.00 target price on the software maker’s stock.

Several other brokerages also recently issued reports on WDAY. Guggenheim reissued a “buy” rating and set a $285.00 price objective on shares of Workday in a research note on Wednesday, November 26th. TD Cowen decreased their price target on shares of Workday from $290.00 to $280.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Barclays cut their price objective on Workday from $280.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday. Royal Bank Of Canada decreased their target price on Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Workday in a research note on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $278.09.

Workday Stock Down 2.8%

Shares of NASDAQ:WDAY opened at $193.99 on Monday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $51.02 billion, a P/E ratio of 81.51, a P/E/G ratio of 2.25 and a beta of 1.14. Workday has a 52-week low of $192.27 and a 52-week high of $283.68. The stock’s fifty day simple moving average is $217.81 and its 200-day simple moving average is $227.64.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data 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 analysts’ expectations of $2.42 billion. Workday had a return on equity of 10.50% and a net margin of 6.95%.The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 EPS. As a group, equities research analysts forecast that Workday will post 2.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Robert Enslin sold 22,185 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $210.17, for a total transaction of $4,662,621.45. Following the completion of the transaction, the insider directly owned 106,330 shares in the company, valued at approximately $22,347,376.10. This represents a 17.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $208.75, for a total transaction of $1,252,500.00. Following the sale, the chief financial officer directly owned 159,158 shares of the company’s stock, valued at $33,224,232.50. The trade was a 3.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 370,321 shares of company stock valued at $78,866,401. Insiders own 19.31% of the company’s stock.

Hedge Funds Weigh In On Workday

Several institutional investors have recently made changes to their positions in WDAY. Brighton Jones LLC grew its stake in shares of Workday by 230.2% in the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after purchasing an additional 2,792 shares in the last quarter. Empowered Funds LLC lifted its stake in Workday by 12.1% in the 1st quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock worth $2,602,000 after acquiring an additional 1,206 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Workday by 211.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock worth $44,000 after acquiring an additional 127 shares during the period. Parallel Advisors LLC grew its stake in Workday by 8.8% during the 2nd quarter. Parallel Advisors LLC now owns 3,038 shares of the software maker’s stock valued at $729,000 after acquiring an additional 245 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Workday by 265.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 21,446 shares of the software maker’s stock valued at $5,147,000 after purchasing an additional 15,571 shares during the period. 89.81% of the stock is 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.