Workday, Inc. (NASDAQ:WDAY) Given Consensus Rating of “Moderate Buy” by Brokerages

Workday, Inc. (NASDAQ:WDAY) has been assigned a consensus recommendation of “Moderate Buy” from the thirty-two research firms that are presently covering the company, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold recommendation, twenty-one have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $293.62.

WDAY has been the subject of several recent research reports. Guggenheim reiterated a “neutral” rating on shares of Workday in a research note on Wednesday, February 26th. Daiwa America upgraded Workday to a “strong-buy” rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. upped their target price on Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Jefferies Financial Group cut their target price on Workday from $350.00 to $325.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Finally, KeyCorp upped their target price on Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th.

Insider Activity at Workday

In related news, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total value of $1,607,868.00. Following the completion of the sale, the insider now directly owns 111,324 shares in the company, valued at $29,556,522. This represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 81,275 shares of the stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total value of $17,448,117.00. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $22,111,395.96. The trade was a 44.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 321,724 shares of company stock worth $77,976,126 over the last three months. Company insiders own 19.31% of the company’s stock.

Institutional Trading of Workday

Institutional investors and hedge funds have recently bought and sold shares of the stock. Roxbury Financial LLC acquired a new stake in Workday in the fourth quarter valued at $25,000. Crews Bank & Trust acquired a new stake in Workday during the 4th quarter worth about $26,000. Avion Wealth grew its holdings in Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares during the period. Cornerstone Planning Group LLC grew its holdings in Workday by 76.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker’s stock worth $28,000 after acquiring an additional 54 shares during the period. Finally, Dagco Inc. acquired a new stake in Workday during the 1st quarter worth about $31,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Trading Down 0.6%

Shares of WDAY stock opened at $273.05 on Wednesday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a market cap of $72.63 billion, a P/E ratio of 45.28, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30. The stock has a 50 day simple moving average of $240.57 and a 200 day simple moving average of $253.53. Workday has a 1 year low of $199.81 and a 1 year high of $294.00.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, research analysts predict that Workday will post 2.63 earnings per share for the current fiscal year.

About Workday

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.