Workday, Inc. (NASDAQ:WDAY) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Workday, Inc. (NASDAQ:WDAY) have been given a consensus recommendation of “Moderate Buy” by the twenty-eight analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and twenty-one have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $293.61.

WDAY has been the subject of several recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $315.00 price target on shares of Workday in a report on Tuesday, February 27th. BMO Capital Markets boosted their price target on shares of Workday from $290.00 to $338.00 and gave the stock an “outperform” rating in a report on Tuesday, February 13th. UBS Group dropped their target price on shares of Workday from $315.00 to $300.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. The Goldman Sachs Group upped their target price on shares of Workday from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $300.00 target price on shares of Workday in a report on Tuesday, February 27th.

Workday Price Performance

NASDAQ:WDAY opened at $249.63 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97. The firm has a market cap of $65.90 billion, a price-to-earnings ratio of 48.47, a price-to-earnings-growth ratio of 6.39 and a beta of 1.33. The company has a 50 day moving average price of $266.02 and a 200-day moving average price of $266.06. Workday has a 1-year low of $174.70 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.47 by $0.10. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.92 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. The firm’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.14) EPS. Equities research analysts forecast that Workday will post 1.76 EPS for the current year.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 64,329 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at $27,690,743.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $272.02, for a total transaction of $15,505,140.00. Following the sale, the insider now owns 1,067,000 shares of the company’s stock, valued at $290,245,340. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 64,329 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $27,690,743.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 435,691 shares of company stock valued at $117,731,569. 21.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Workday

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Workday by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock worth $3,988,549,000 after buying an additional 437,215 shares during the period. Norges Bank purchased a new stake in shares of Workday during the fourth quarter worth approximately $1,491,149,000. Wellington Management Group LLP increased its stake in Workday by 37.4% in the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after purchasing an additional 1,406,153 shares during the last quarter. Polen Capital Management LLC increased its stake in Workday by 2.0% in the third quarter. Polen Capital Management LLC now owns 3,950,320 shares of the software maker’s stock valued at $848,726,000 after purchasing an additional 78,352 shares during the last quarter. Finally, Sustainable Growth Advisers LP increased its stake in Workday by 9.7% in the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after purchasing an additional 301,463 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

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.