Workday Inc (WDAY) Given Average Recommendation of “Buy” by Brokerages
Workday Inc (NASDAQ:WDAY) has earned a consensus rating of “Buy” from the thirty-four analysts that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $186.00.
Several equities analysts have recently commented on WDAY shares. Northland Securities reaffirmed a “hold” rating and issued a $200.00 price target on shares of Workday in a research note on Friday, March 1st. Oppenheimer upped their target price on Workday from $185.00 to $216.00 and gave the company an “outperform” rating in a report on Tuesday, February 26th. BNP Paribas started coverage on Workday in a report on Friday, March 29th. They set an “underperform” rating and a $125.00 target price for the company. Exane BNP Paribas started coverage on Workday in a report on Friday, March 29th. They set an “underperform” rating for the company. Finally, KeyCorp reaffirmed a “buy” rating and set a $235.00 target price on shares of Workday in a report on Wednesday.
Shares of Workday stock traded up $5.52 during trading on Friday, hitting $210.84. 83,168 shares of the stock traded hands, compared to its average volume of 1,791,645. The firm has a market cap of $46.71 billion, a P/E ratio of -173.46 and a beta of 1.79. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. Workday has a 52-week low of $117.24 and a 52-week high of $213.98.
In other Workday news, SVP James P. Shaughnessy sold 4,800 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $184.98, for a total transaction of $887,904.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David A. Duffield sold 1,054 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $205.21, for a total transaction of $216,291.34. The disclosure for this sale can be found here. Insiders sold 1,126,562 shares of company stock valued at $208,547,706 over the last 90 days. 29.80% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc lifted its stake in Workday by 0.8% in the 3rd quarter. Vanguard Group Inc now owns 12,604,769 shares of the software maker’s stock valued at $1,840,044,000 after purchasing an additional 98,167 shares during the last quarter. Jennison Associates LLC lifted its stake in Workday by 6.8% in the 1st quarter. Jennison Associates LLC now owns 8,716,482 shares of the software maker’s stock valued at $1,680,974,000 after purchasing an additional 552,280 shares during the last quarter. Norges Bank bought a new position in Workday in the 4th quarter valued at approximately $198,900,000. Blair William & Co. IL lifted its stake in Workday by 5.6% in the 1st quarter. Blair William & Co. IL now owns 1,077,343 shares of the software maker’s stock valued at $207,766,000 after purchasing an additional 57,358 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Workday by 3.3% in the 1st quarter. Northern Trust Corp now owns 1,019,275 shares of the software maker’s stock valued at $196,566,000 after purchasing an additional 32,907 shares during the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.
Workday Company Profile
Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.
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