Workday (NASDAQ:WDAY) Stock Rating Upgraded by Wall Street Zen

Workday (NASDAQ:WDAY) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley upped their target price on Workday from $255.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 26th. Evercore ISI set a $200.00 price target on Workday in a research report on Monday, February 9th. BTIG Research lowered their price objective on shares of Workday from $285.00 to $230.00 and set a “buy” rating for the company in a research report on Monday, February 9th. Royal Bank Of Canada dropped their price objective on shares of Workday from $320.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Finally, The Goldman Sachs Group started coverage on shares of Workday in a research note on Monday, January 12th. They issued a “neutral” rating and a $238.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $269.06.

Workday Price Performance

WDAY opened at $144.42 on Friday. Workday has a 52-week low of $140.59 and a 52-week high of $281.00. The company has a 50 day moving average of $196.02 and a two-hundred day moving average of $217.78. The company has a market cap of $37.98 billion, a P/E ratio of 60.68, a P/E/G ratio of 1.23 and a beta of 1.14. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $2.42 billion. During the same quarter in the previous year, the business posted $1.89 EPS. The business’s quarterly revenue was up 12.6% on a year-over-year basis. On average, analysts expect that Workday will post 2.63 earnings per share for the current year.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 82,884 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $209.75, for a total transaction of $17,384,919.00. Following the completion of the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at $22,034,027.75. This trade represents a 44.10% 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, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $208.75, for a total transaction of $1,252,500.00. Following the completion of the sale, the chief financial officer owned 159,158 shares in the company, valued at approximately $33,224,232.50. This trade represents a 3.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 370,321 shares of company stock worth $78,866,401 over the last ninety days. Insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

A number of institutional investors have recently made changes to their positions in the company. Perennial Investment Advisors LLC boosted its holdings in Workday by 2.8% in the second quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker’s stock worth $418,000 after purchasing an additional 48 shares during the period. Finivi Inc. lifted its position in shares of Workday by 3.3% in the 3rd quarter. Finivi Inc. now owns 1,516 shares of the software maker’s stock worth $365,000 after buying an additional 48 shares during the last quarter. Bay Harbor Wealth Management LLC boosted its holdings in shares of Workday by 12.0% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker’s stock valued at $110,000 after buying an additional 49 shares during the period. Farther Finance Advisors LLC grew its position in shares of Workday by 1.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,128 shares of the software maker’s stock valued at $994,000 after buying an additional 49 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its stake in Workday by 1.1% during the second quarter. Kingsview Wealth Management LLC now owns 4,544 shares of the software maker’s stock worth $1,091,000 after acquiring an additional 50 shares during the period. 89.81% of the stock is currently owned by institutional investors.

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.