Workday (NASDAQ:WDAY) Upgraded at StockNews.com

StockNews.com upgraded shares of Workday (NASDAQ:WDAY) from a hold rating to a buy rating in a research report released on Tuesday morning.

Several other research firms have also recently weighed in on WDAY. BMO Capital Markets restated an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research report on Wednesday, September 18th. The Goldman Sachs Group raised their price target on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Bank of America reduced their price objective on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Scotiabank assumed coverage on Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price target on shares of Workday in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $291.36.

Workday Stock Up 0.1 %

Shares of WDAY opened at $269.38 on Tuesday. The company has a market capitalization of $71.66 billion, a P/E ratio of 44.67, a PEG ratio of 5.04 and a beta of 1.34. Workday has a one year low of $199.81 and a one year high of $311.28. The business’s 50 day simple moving average is $259.05 and its 200-day simple moving average is $242.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm earned $0.47 earnings per share. The business’s revenue was up 15.8% on a year-over-year basis. As a group, sell-side analysts predict that Workday will post 2.58 EPS for the current fiscal year.

Insider Activity

In other Workday news, Director Wayne A.I. Frederick sold 1,828 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $241.85, for a total value of $442,101.80. Following the sale, the director now owns 8,674 shares in the company, valued at approximately $2,097,806.90. The trade was a 17.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $265.70, for a total transaction of $14,879,200.00. Following the transaction, the insider now directly owns 228,000 shares of the company’s stock, valued at $60,579,600. This represents a 19.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 361,463 shares of company stock worth $91,141,168 over the last quarter. 20.00% of the stock is currently owned by company insiders.

Institutional Trading of Workday

Institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC increased its stake in Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after buying an additional 480,459 shares during the last quarter. State Street Corp increased its position in shares of Workday by 1.4% in the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after acquiring an additional 67,380 shares during the last quarter. Geode Capital Management LLC raised its holdings in Workday by 2.7% during the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after acquiring an additional 76,618 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Workday by 0.6% in the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock valued at $566,094,000 after purchasing an additional 14,159 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Workday by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock worth $482,133,000 after purchasing an additional 75,747 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Company Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.