Workday (NASDAQ:WDAY) Coverage Initiated at Redburn Atlantic

Redburn Atlantic initiated coverage on shares of Workday (NASDAQ:WDAY) in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm set a “neutral” rating on the software maker’s stock.

Several other equities research analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and boosted their price objective for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. Wells Fargo & Company lifted their price objective on Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. The Goldman Sachs Group upped their target price on shares of Workday from $300.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Oppenheimer reiterated an “outperform” rating and issued a $300.00 price target on shares of Workday in a research note on Tuesday, December 3rd. Finally, Morgan Stanley downgraded shares of Workday from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $330.00 to $275.00 in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $290.46.

Workday Trading Down 3.3 %

Shares of Workday stock traded down $8.84 during trading hours on Wednesday, hitting $256.88. The company’s stock had a trading volume of 817,630 shares, compared to its average volume of 2,027,121. The stock has a market cap of $68.33 billion, a price-to-earnings ratio of 42.68, a P/E/G ratio of 3.51 and a beta of 1.35. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday has a twelve month low of $199.81 and a twelve month high of $311.28. The firm has a fifty day moving average of $261.59 and a 200-day moving average of $252.41.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the firm earned $0.47 EPS. Workday’s revenue was up 15.8% on a year-over-year basis. Research analysts forecast that Workday will post 2.63 EPS for the current year.

Insider Buying and Selling

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the transaction, the chief executive officer now directly owns 13,972 shares of the company’s stock, valued at $3,546,931.92. This represents a 30.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the sale, the chief accounting officer now directly owns 35,408 shares in the company, valued at $8,789,681.92. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock valued at $113,142,592 over the last three months. 20.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Workday

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Crews Bank & Trust purchased a new position in shares of Workday in the 4th quarter valued at about $26,000. Roxbury Financial LLC acquired a new stake in shares of Workday during the 4th quarter valued at approximately $25,000. Avion Wealth boosted its stake in shares of Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Workday in the 3rd quarter worth approximately $26,000. Finally, TCTC Holdings LLC purchased a new position in Workday in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds 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.