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

Shares of Workday, Inc. (NASDAQ:WDAY - Get Free Report) have received a consensus rating of "Moderate Buy" from the twenty-eight brokerages that are currently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $292.25.

WDAY has been the topic of several recent research reports. The Goldman Sachs Group lifted their target price on shares of Workday from $300.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Needham & Company LLC restated a "buy" rating and set a $300.00 price target on shares of Workday in a research report on Monday, November 25th. Morgan Stanley increased their price objective on shares of Workday from $315.00 to $330.00 and gave the company an "overweight" rating in a report on Wednesday, November 27th. Royal Bank of Canada raised their target price on shares of Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 18th. Finally, Scotiabank started coverage on Workday in a research report on Monday, November 18th. They issued a "sector outperform" rating and a $340.00 price target for the company.

Workday Price Performance

Shares of WDAY traded up $5.01 during mid-day trading on Thursday, hitting $254.69. 2,242,319 shares of the company were exchanged, compared to its average volume of 1,971,758. The stock has a market cap of $67.75 billion, a price-to-earnings ratio of 42.24, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34. Workday has a 1-year low of $199.81 and a 1-year high of $311.28. The company has a 50 day moving average of $262.35 and a 200-day moving average of $245.50. 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 announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts' consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business's revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 earnings per share. Analysts expect that Workday will post 2.58 EPS for the current fiscal year.

Insider Activity at Workday

In other Workday news, Director Wayne A.I. Frederick sold 1,828 shares of the firm's stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $241.85, for a total transaction of $442,101.80. Following the sale, the director now owns 8,674 shares of the company's stock, valued at approximately $2,097,806.90. This trade represents a 17.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the transaction, the chief executive officer now directly owns 13,972 shares in the company, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 370,085 shares of company stock valued at $95,380,557 over the last 90 days. 20.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Workday

Hedge funds have recently modified their holdings of the business. Capital Performance Advisors LLP acquired a new stake in Workday during the 3rd quarter worth $26,000. Goodman Advisory Group LLC purchased a new stake in shares of Workday in the second quarter valued at about $35,000. Meeder Asset Management Inc. boosted its stake in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock worth $35,000 after buying an additional 43 shares during the period. New Millennium Group LLC grew its holdings in shares of Workday by 177.4% during the third quarter. New Millennium Group LLC now owns 147 shares of the software maker's stock worth $36,000 after buying an additional 94 shares during the last quarter. Finally, True Wealth Design LLC increased its position in Workday by 4,766.7% in the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker's stock valued at $36,000 after acquiring an additional 143 shares during the period. 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.