Deutsche Bank Aktiengesellschaft Upgrades Workday (NASDAQ:WDAY) to "Buy"

Deutsche Bank Aktiengesellschaft upgraded shares of Workday (NASDAQ:WDAY - Free Report) from a hold rating to a buy rating in a report issued on Wednesday, Marketbeat Ratings reports. Deutsche Bank Aktiengesellschaft currently has $300.00 price objective on the software maker's stock, up from their prior price objective of $265.00.

A number of other research firms have also issued reports on WDAY. Scotiabank initiated coverage on shares of Workday in a research note on Monday, November 18th. They issued a "sector outperform" rating and a $340.00 target price on the stock. Royal Bank of Canada lifted their price objective on Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 18th. JMP Securities restated a "market outperform" rating and set a $315.00 target price on shares of Workday in a research note on Thursday, September 19th. Barclays dropped their price target on Workday from $314.00 to $305.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 27th. Finally, Oppenheimer restated an "outperform" rating and issued a $300.00 price objective on shares of Workday in a research note on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $292.25.

Workday Stock Up 2.0 %

Shares of NASDAQ WDAY traded up $5.01 during mid-day trading on Wednesday, reaching $254.69. The company had a trading volume of 2,242,319 shares, compared to its average volume of 1,971,758. 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 has a twelve month low of $199.81 and a twelve month high of $311.28. The stock's 50 day moving average is $261.93 and its 200-day moving average is $245.44. The stock has a market capitalization of $67.75 billion, a PE ratio of 42.24, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company's revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 earnings per share. As a group, equities analysts anticipate that Workday will post 2.58 earnings per share for the current fiscal year.

Insider Transactions at Workday

In related news, Director Wayne A.I. Frederick sold 1,828 shares of the company's stock in a transaction dated 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 owns 8,674 shares in the company, valued at $2,097,806.90. This represents a 17.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the firm's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the completion of the sale, the insider now owns 281,000 shares of the company's stock, valued at $68,004,810. The trade was a 16.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 370,085 shares of company stock valued at $95,380,557 in the last three months. 20.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Sanctuary Advisors LLC raised its position in shares of Workday by 7.2% during the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker's stock worth $7,934,000 after acquiring an additional 1,978 shares during the last quarter. Grafton Street Partners Fund LP bought a new stake in Workday during the 3rd quarter worth about $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 worth $7,791,000 after purchasing an additional 7,802 shares during the last quarter. Legal & General Group Plc lifted its position in Workday by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker's stock valued at $384,518,000 after purchasing an additional 118,180 shares during the period. Finally, Atria Investments Inc boosted its stake in shares of Workday by 19.3% in the 3rd quarter. Atria Investments Inc now owns 44,324 shares of the software maker's stock valued at $10,833,000 after purchasing an additional 7,175 shares during the last quarter. Institutional investors and hedge funds 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.