Workday, Inc. (NASDAQ:WDAY) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Workday, Inc. (NASDAQ:WDAY - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the thirty-one ratings firms that are covering the firm, Marketbeat.com reports. Nine 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. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $300.36.

A number of equities research analysts have issued reports on the company. Loop Capital upped their price objective on Workday from $242.00 to $260.00 and gave the company a "hold" rating in a research report on Wednesday, February 19th. Canaccord Genuity Group raised their price target on Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Needham & Company LLC reiterated a "buy" rating and set a $300.00 price objective on shares of Workday in a research report on Monday. Oppenheimer raised their target price on shares of Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of Workday from $285.00 to $310.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $261.75, for a total transaction of $14,658,000.00. Following the transaction, the insider now owns 172,000 shares of the company's stock, valued at approximately $45,021,000. This represents a 24.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 35,408 shares of the company's stock, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 487,145 shares of company stock worth $123,289,438. 20.00% of the stock is currently owned by insiders.

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Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after buying an additional 4,517,272 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Workday in the fourth quarter valued at $658,735,000. Norges Bank acquired a new stake in shares of Workday in the fourth quarter valued at $645,710,000. Parnassus Investments LLC boosted its holdings in Workday by 562.2% in the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock valued at $631,589,000 after purchasing an additional 2,078,097 shares during the period. Finally, Geode Capital Management LLC grew its stake in Workday by 61.9% during the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock worth $1,193,105,000 after purchasing an additional 1,772,223 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Workday Price Performance

Shares of WDAY traded down $3.37 during midday trading on Tuesday, hitting $247.42. 241,056 shares of the company traded hands, compared to its average volume of 2,415,488. The firm has a 50 day moving average of $257.01 and a 200-day moving average of $255.00. Workday has a 52 week low of $199.81 and a 52 week high of $294.00. The stock has a market cap of $65.81 billion, a price-to-earnings ratio of 41.03, a PEG ratio of 3.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). The business 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%. On average, analysts forecast that Workday will post 2.63 EPS for the current fiscal year.

About Workday

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.