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

Workday, Inc. (NASDAQ:WDAY) has earned a consensus rating of “Moderate Buy” from the twenty-eight brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $293.61.

WDAY has been the topic of a number of research analyst reports. JMP Securities restated a “market outperform” rating and issued a $315.00 target price on shares of Workday in a research report on Tuesday, February 27th. DA Davidson reaffirmed a “neutral” rating and issued a $300.00 target price on shares of Workday in a report on Tuesday, February 27th. Evercore ISI lifted their price target on Workday from $310.00 to $350.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. The Goldman Sachs Group upped their price objective on Workday from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, BMO Capital Markets lifted their target price on shares of Workday from $290.00 to $338.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 13th.

Workday Price Performance

WDAY stock opened at $255.78 on Friday. The company’s 50-day moving average price is $269.08 and its two-hundred day moving average price is $264.57. Workday has a 12 month low of $174.25 and a 12 month high of $311.28. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. The firm has a market cap of $67.53 billion, a P/E ratio of 49.67, a P/E/G ratio of 6.12 and a beta of 1.33.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.47 by $0.10. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.92 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. The company’s revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.14) earnings per share. On average, analysts anticipate that Workday will post 1.76 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total value of $916,918.59. Following the transaction, the insider now owns 165,932 shares in the company, valued at $48,749,162.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, major shareholder David A. Duffield sold 65,221 shares of Workday stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $268.29, for a total value of $17,498,142.09. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at $27,633,065.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total transaction of $916,918.59. Following the sale, the insider now owns 165,932 shares in the company, valued at $48,749,162.28. The disclosure for this sale can be found here. Insiders sold 435,691 shares of company stock valued at $117,731,569 in the last three months. Company insiders own 21.09% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WDAY. Beacon Capital Management LLC grew its position in shares of Workday by 333.3% in the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after purchasing an additional 70 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Workday by 1,750.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after buying an additional 105 shares during the period. Sound Income Strategies LLC increased its position in shares of Workday by 74.2% during the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after buying an additional 49 shares during the period. CVA Family Office LLC purchased a new stake in shares of Workday in the fourth quarter worth about $33,000. Finally, VisionPoint Advisory Group LLC boosted its position in shares of Workday by 215.4% in the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after acquiring an additional 84 shares during the period. 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.