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

Shares of Workday, Inc. (NASDAQ:WDAY) have received an average rating of “Moderate Buy” from the forty research firms that are currently covering the firm, MarketBeat reports. Thirteen research analysts have rated the stock with a hold recommendation, twenty-five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $269.0606.

WDAY has been the subject of a number of recent analyst reports. BTIG Research cut their price target on shares of Workday from $285.00 to $230.00 and set a “buy” rating for the company in a report on Monday. Wells Fargo & Company reduced their price objective on shares of Workday from $300.00 to $290.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. KeyCorp cut their price objective on shares of Workday from $285.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Barclays decreased their price objective on Workday from $280.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 12th. Finally, Evercore ISI set a $200.00 target price on Workday in a report on Monday.

Insiders Place Their Bets

In other news, insider Gerrit S. Kazmaier sold 3,759 shares of the company’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $208.73, for a total value of $784,616.07. Following the sale, the insider directly owned 105,167 shares in the company, valued at $21,951,507.91. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $208.75, for a total transaction of $1,252,500.00. Following the completion of the transaction, the chief financial officer directly owned 159,158 shares of the company’s stock, valued at approximately $33,224,232.50. This represents a 3.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 370,321 shares of company stock valued at $78,866,401. Corporate insiders own 19.31% of the company’s stock.

Hedge Funds Weigh In On Workday

Large investors have recently bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in Workday by 230.2% in the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after acquiring an additional 2,792 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of 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 purchasing an additional 1,206 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Workday by 211.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock valued at $44,000 after purchasing an additional 127 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Workday during the 2nd quarter worth about $281,000. Finally, Johnson Investment Counsel Inc. grew its holdings in shares of Workday by 2.3% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,201 shares of the software maker’s stock worth $528,000 after purchasing an additional 49 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Down 0.4%

WDAY stock opened at $144.04 on Friday. The firm’s fifty day simple moving average is $197.53 and its 200-day simple moving average is $218.72. The company has a market capitalization of $37.88 billion, a P/E ratio of 60.52, a price-to-earnings-growth ratio of 1.23 and a beta of 1.13. Workday has a 12 month low of $140.59 and a 12 month high of $281.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.15. Workday had a return on equity of 10.50% and a net margin of 6.95%.The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the previous year, the business earned $1.89 EPS. Workday’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, equities research analysts forecast that Workday will post 2.63 earnings per share for the current year.

Workday Company Profile

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.