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

Shares of Workday, Inc. (NASDAQ:WDAY - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twenty-eight ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and twenty have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $290.64.

Several equities research analysts have recently issued reports on the stock. KeyCorp raised their price target on shares of Workday from $275.00 to $305.00 and gave the stock an "overweight" rating in a research note on Friday, August 23rd. StockNews.com lowered Workday from a "buy" rating to a "hold" rating in a research note on Wednesday, December 4th. Piper Sandler reaffirmed a "neutral" rating and set a $270.00 price target (down previously from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Citigroup decreased their price objective on Workday from $274.00 to $270.00 and set a "neutral" rating for the company in a report on Wednesday, September 25th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $300.00 price objective on shares of Workday in a report on Friday, September 13th.

Workday Stock Performance

NASDAQ:WDAY traded down $1.15 during trading on Friday, reaching $273.67. The company's stock had a trading volume of 2,889,102 shares, compared to its average volume of 3,602,782. Workday has a 12 month low of $199.81 and a 12 month high of $311.28. The firm has a market cap of $72.80 billion, a price-to-earnings ratio of 45.38, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34. The firm has a 50 day moving average of $253.74 and a 200-day moving average of $239.10. 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 posted its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm's revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.47 earnings per share. Research analysts expect that Workday will post 2.58 EPS for the current fiscal year.

Insider Activity

In other Workday news, Director Wayne A.I. Frederick sold 1,828 shares of the 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 transaction, the director now directly owns 8,674 shares in the company, valued at $2,097,806.90. This trade represents a 17.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 70,003 shares of Workday stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $25,872,846.40. This trade represents a 40.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 361,463 shares of company stock worth $88,422,088. 20.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Workday

Institutional investors and hedge funds have recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new position in Workday in the 3rd quarter worth approximately $26,000. SouthState Corp increased its stake in shares of Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker's stock worth $34,000 after buying an additional 129 shares during the period. Crewe Advisors LLC increased its stake in shares of Workday by 56.6% in the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker's stock worth $35,000 after buying an additional 56 shares during the period. Goodman Advisory Group LLC bought a new stake in Workday during the 2nd quarter valued at $35,000. Finally, Meeder Asset Management Inc. boosted its position in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock valued at $35,000 after buying an additional 43 shares during the period. Institutional investors own 89.81% of the company's stock.

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.