Workday, Inc. (NASDAQ:WDAY) Receives $287.04 Average Target Price from Brokerages

Shares of Workday, Inc. (NASDAQ:WDAY - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twenty-seven brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and twenty have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $287.04.

A number of research analysts recently commented on the company. Evercore ISI lowered their price objective on Workday from $300.00 to $290.00 and set an "outperform" rating for the company in a research note on Tuesday, August 20th. Loop Capital upped their price objective on Workday from $240.00 to $255.00 and gave the stock a "hold" rating in a research note on Friday, August 23rd. BMO Capital Markets restated an "outperform" rating and set a $300.00 price objective on shares of Workday in a research note on Wednesday, September 18th. Barclays upped their price objective on Workday from $286.00 to $289.00 and gave the stock an "overweight" rating in a research note on Friday, August 23rd. Finally, The Goldman Sachs Group upped their price objective on Workday from $300.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th.

Workday Stock Performance

Shares of WDAY stock traded down $3.75 on Tuesday, hitting $240.66. 2,631,534 shares of the stock traded hands, compared to its average volume of 2,185,536. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The company has a market capitalization of $63.77 billion, a PE ratio of 43.36, a PEG ratio of 4.85 and a beta of 1.35. Workday has a 1-year low of $199.81 and a 1-year high of $311.28. The company's fifty day moving average is $239.12 and its 200 day moving average is $240.96.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.10. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business's revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 EPS. On average, equities research analysts predict that Workday will post 2.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 76,376 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $226.74, for a total value of $17,317,494.24. Following the completion of the sale, the insider now directly owns 102,997 shares of the company's stock, valued at $23,353,539.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $228.12, for a total value of $12,774,720.00. Following the completion of the sale, the insider now directly owns 618,000 shares of the company's stock, valued at $140,978,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 76,376 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $226.74, for a total value of $17,317,494.24. Following the completion of the sale, the insider now directly owns 102,997 shares of the company's stock, valued at $23,353,539.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 389,123 shares of company stock worth $93,545,659. Company insiders own 20.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Anchor Investment Management LLC lifted its position in Workday by 14,495.1% in the second quarter. Anchor Investment Management LLC now owns 5,984 shares of the software maker's stock worth $1,338,000 after purchasing an additional 5,943 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Workday in the second quarter worth $4,351,000. Sanctuary Advisors LLC bought a new position in Workday in the second quarter worth $6,183,000. Sycomore Asset Management bought a new position in Workday in the second quarter worth $15,406,000. Finally, New Century Financial Group LLC bought a new position in Workday in the second quarter worth $265,000. 89.81% of the stock is owned by 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.