Workday (NASDAQ:WDAY) Stock Rating Upgraded by Daiwa America

Daiwa America upgraded shares of Workday (NASDAQ:WDAY - Free Report) to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

Several other research analysts have also recently issued reports on WDAY. BNP Paribas raised Workday to a "strong-buy" rating in a research report on Friday, February 14th. JPMorgan Chase & Co. boosted their target price on shares of Workday from $285.00 to $310.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Barclays reduced their target price on shares of Workday from $314.00 to $305.00 and set an "overweight" rating for the company in a report on Wednesday, November 27th. The Goldman Sachs Group lifted their price target on shares of Workday from $310.00 to $345.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Finally, Piper Sandler upped their price objective on Workday from $270.00 to $290.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $302.14.

Workday Stock Performance

Shares of WDAY stock traded down $9.38 during trading hours on Tuesday, reaching $243.00. The company had a trading volume of 2,291,172 shares, compared to its average volume of 2,421,147. Workday has a one year low of $199.81 and a one year high of $294.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The business has a fifty day moving average price of $258.39 and a 200-day moving average price of $255.93. The firm has a market cap of $64.64 billion, a PE ratio of 40.30, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38.

Remove Ads

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). The company had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Sell-side analysts predict that Workday will post 2.63 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, insider Sayan Chakraborty sold 6,056 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the sale, the insider now owns 111,324 shares of the company's stock, 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 Securities & Exchange Commission, which is available through this link. Also, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the transaction, the insider now owns 284,000 shares of the company's stock, valued at $78,188,040. This trade represents a 16.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 435,829 shares of company stock valued at $113,033,319. Insiders own 20.00% of the company's stock.

Institutional Trading of Workday

Hedge funds have recently made changes to their positions in the business. Bristlecone Advisors LLC increased its stake in Workday by 49.6% during the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock worth $754,000 after acquiring an additional 968 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of Workday by 7.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker's stock valued at $7,934,000 after purchasing an additional 1,978 shares during the last quarter. Grafton Street Partners Fund LP bought a new position in shares of Workday during the 3rd quarter valued at approximately $4,424,000. ICICI Prudential Asset Management Co Ltd raised its holdings in Workday by 32.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker's stock valued at $7,791,000 after buying an additional 7,802 shares during the period. Finally, Nordea Investment Management AB lifted its position in Workday by 20.5% in the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker's stock worth $182,753,000 after buying an additional 119,769 shares during the last quarter. 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.