Analysts Set Workday, Inc. (NASDAQ:WDAY) PT at $292.25

Shares of Workday, Inc. (NASDAQ:WDAY) have earned a consensus recommendation of “Moderate Buy” from the twenty-eight ratings firms that are currently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $292.25.

A number of equities analysts have recently commented on WDAY shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Workday in a report on Wednesday, September 18th. The Goldman Sachs Group lifted their price target on Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. JMP Securities reiterated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a report on Thursday, September 19th. Needham & Company LLC restated a “buy” rating and set a $300.00 price target on shares of Workday in a report on Monday, November 25th. Finally, Guggenheim upgraded Workday from a “sell” rating to a “neutral” rating in a report on Monday, January 6th.

Workday Stock Performance

WDAY stock opened at $246.00 on Thursday. The business has a 50 day moving average of $262.65 and a 200-day moving average of $246.28. Workday has a 12-month low of $199.81 and a 12-month high of $311.28. The firm has a market cap of $65.44 billion, a PE ratio of 40.80, a P/E/G ratio of 5.04 and a beta of 1.34. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

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

Insider Activity at Workday

In other news, insider Sayan Chakraborty sold 5,498 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the sale, the insider now directly owns 121,100 shares in the company, valued at $30,369,458. This represents a 4.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 70,003 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total value of $17,584,753.60. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $25,872,846.40. The trade was a 40.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 382,347 shares of company stock valued at $99,225,903. 20.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Workday

Institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new position in shares of Workday during the 3rd quarter valued at about $26,000. Goodman Advisory Group LLC bought a new stake in Workday in the second quarter worth about $35,000. Meeder Asset Management Inc. lifted its stake in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares during the last quarter. New Millennium Group LLC increased its position in shares of Workday by 177.4% during the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after acquiring an additional 94 shares during the period. Finally, True Wealth Design LLC increased its position in shares of Workday by 4,766.7% during the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after acquiring an additional 143 shares during the period. Hedge funds and other 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.