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

Shares of Workday, Inc. (NASDAQ:WDAY) have earned a consensus recommendation of “Moderate Buy” from the thirty-four ratings firms that are presently covering the stock, Marketbeat Ratings reports. Fifteen equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $199.7097.

A number of research analysts have commented on WDAY shares. Jefferies Financial Group cut Workday from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $325.00 to $150.00 in a research note on Monday, February 23rd. Stifel Nicolaus set a $175.00 target price on Workday in a report on Monday, February 9th. Morgan Stanley reduced their price target on Workday from $280.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Monday, February 23rd. BTIG Research decreased their price target on Workday from $230.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Workday from $270.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, February 24th.

Insiders Place Their Bets

In related news, insider Gerrit S. Kazmaier sold 6,547 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $218.77, for a total transaction of $1,432,287.19. Following the completion of the sale, the insider directly owned 111,353 shares of the company’s stock, valued at approximately $24,360,695.81. This trade represents a 5.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Enslin sold 22,185 shares of Workday stock in a transaction on Monday, January 5th. The stock was sold at an average price of $210.17, for a total transaction of $4,662,621.45. Following the sale, the insider directly owned 106,330 shares in the company, valued at $22,347,376.10. This trade represents a 17.26% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 529,362 shares of company stock valued at $89,425,451. Corporate insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Auto Owners Insurance Co grew its stake in Workday by 25,412.8% during the 4th quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock valued at $2,197,332,000 after purchasing an additional 10,190,516 shares in the last quarter. Vanguard Group Inc. increased its holdings in Workday by 14.7% during the 4th quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock worth $5,371,495,000 after purchasing an additional 3,210,232 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Workday by 101.4% in the 4th quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker’s stock valued at $1,077,537,000 after purchasing an additional 2,525,821 shares in the last quarter. First Eagle Investment Management LLC acquired a new position in shares of Workday in the 3rd quarter valued at approximately $556,252,000. Finally, Norges Bank purchased a new position in shares of Workday during the 4th quarter valued at approximately $448,804,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Price Performance

Workday stock opened at $133.63 on Tuesday. The firm has a fifty day moving average of $163.16 and a 200-day moving average of $205.15. Workday has a 52-week low of $117.76 and a 52-week high of $276.00. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $34.34 billion, a P/E ratio of 51.79, a PEG ratio of 1.29 and a beta of 1.17.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.15. Workday had a net margin of 7.26% and a return on equity of 13.37%. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the business posted $1.92 EPS. The business’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, analysts predict that Workday will post 2.63 EPS for the current year.

Workday Company Profile

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.