Workday, Inc. (NASDAQ:WDAY) Receives $278.09 Consensus Price Target from Brokerages

Workday, Inc. (NASDAQ:WDAY) has earned a consensus rating of “Moderate Buy” from the thirty-nine ratings firms that are currently covering the stock, Marketbeat reports. Thirteen equities research analysts have rated the stock with a hold recommendation, twenty-four have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $278.0938.

Several research analysts recently commented on the company. Barclays dropped their price target on Workday from $280.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Wells Fargo & Company lowered their price objective on Workday from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Royal Bank Of Canada cut their target price on Workday from $320.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Weiss Ratings restated a “hold (c)” rating on shares of Workday in a report on Wednesday, October 8th. Finally, Stifel Nicolaus lowered their price target on Workday from $255.00 to $235.00 and set a “hold” rating for the company in a research report on Wednesday, November 26th.

Workday Trading Up 0.2%

Shares of WDAY opened at $183.41 on Monday. The stock has a market capitalization of $48.24 billion, a PE ratio of 77.06, a P/E/G ratio of 2.06 and a beta of 1.14. The company’s fifty day moving average is $213.86 and its 200 day moving average is $225.77. 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 has a fifty-two week low of $180.56 and a fifty-two week high of $283.68.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.15. The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business’s revenue was up 12.6% on a year-over-year basis. During the same period last year, the company posted $1.89 EPS. Sell-side analysts expect that Workday will post 2.63 earnings per share for the current fiscal year.

Insider Transactions at Workday

In related news, insider Gerrit S. Kazmaier sold 3,759 shares of Workday stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $208.73, for a total transaction of $784,616.07. Following the completion of the transaction, the insider directly owned 105,167 shares of the company’s stock, valued at approximately $21,951,507.91. The trade was a 3.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 82,884 shares of the stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $209.75, for a total transaction of $17,384,919.00. Following the completion of the sale, the insider directly owned 105,049 shares in the company, valued at $22,034,027.75. This trade represents a 44.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 370,321 shares of company stock worth $78,866,401. 19.31% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Workday

A number of institutional investors and hedge funds have recently modified their holdings of WDAY. Verdence Capital Advisors LLC increased its stake in Workday by 1.0% in the second quarter. Verdence Capital Advisors LLC now owns 4,381 shares of the software maker’s stock worth $1,051,000 after purchasing an additional 45 shares during the period. Perennial Investment Advisors LLC boosted its stake in shares of Workday by 2.8% during the second quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker’s stock valued at $418,000 after purchasing an additional 48 shares during the period. Finivi Inc. grew its holdings in shares of Workday by 3.3% in the third quarter. Finivi Inc. now owns 1,516 shares of the software maker’s stock worth $365,000 after purchasing an additional 48 shares during the last quarter. Johnson Investment Counsel Inc. increased its stake in Workday by 2.3% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,201 shares of the software maker’s stock worth $528,000 after buying an additional 49 shares during the period. Finally, Bay Harbor Wealth Management LLC increased its stake in Workday by 12.0% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker’s stock worth $110,000 after buying an additional 49 shares during the period. 89.81% of the stock is 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.