Workday (NASDAQ:WDAY) Upgraded by The Goldman Sachs Group to “Hold” Rating

Workday (NASDAQ:WDAY) was upgraded by The Goldman Sachs Group to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

WDAY has been the topic of a number of other reports. Oppenheimer reissued an “outperform” rating on shares of Workday in a research report on Wednesday, November 26th. BTIG Research began coverage on Workday in a research note on Tuesday, December 16th. They set a “buy” rating and a $285.00 target price on the stock. DA Davidson decreased their price target on Workday from $260.00 to $250.00 and set a “hold” rating for the company in a research note on Wednesday, November 26th. Rosenblatt Securities assumed coverage on Workday in a report on Tuesday, December 2nd. They set a “neutral” rating and a $235.00 price objective for the company. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a research report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $278.09.

Workday Stock Performance

NASDAQ:WDAY opened at $207.91 on Monday. The firm has a market capitalization of $54.68 billion, a PE ratio of 87.36, a PEG ratio of 2.34 and a beta of 1.14. The stock’s fifty day moving average is $219.25 and its 200 day moving average is $228.15. Workday has a fifty-two week low of $202.22 and a fifty-two week high of $283.68. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the previous year, the business posted $1.89 earnings per share. The business’s revenue was up 12.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Workday will post 2.63 earnings per share for the current year.

Insider Activity

In other Workday news, insider Robert Enslin sold 22,185 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $210.17, for a total transaction of $4,662,621.45. Following the transaction, the insider directly owned 106,330 shares in the company, valued at $22,347,376.10. This represents a 17.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Carl M. Eschenbach sold 3,125 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $210.00, for a total transaction of $656,250.00. Following the transaction, the chief executive officer directly owned 17,097 shares in the company, valued at $3,590,370. This trade represents a 15.45% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 370,321 shares of company stock valued at $78,866,401. Company insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

A number of large investors have recently bought and sold shares of WDAY. Rakuten Securities Inc. acquired a new stake in shares of Workday during the second quarter worth $25,000. Measured Wealth Private Client Group LLC purchased a new position in Workday in the 3rd quarter worth $26,000. JPL Wealth Management LLC acquired a new stake in Workday during the 3rd quarter worth about $30,000. Berbice Capital Management LLC grew its stake in Workday by 136.4% during the 2nd quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock valued at $31,000 after purchasing an additional 75 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its stake in Workday by 2,216.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock valued at $33,000 after purchasing an additional 133 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

About Workday

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.