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

Shares of Workday, Inc. (NASDAQ:WDAY) have received an average rating of “Moderate Buy” from the thirty-six ratings firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $184.00.

WDAY has been the subject of a number of research analyst reports. Wall Street Zen upgraded Workday from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. UBS Group increased their price objective on shares of Workday from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, May 22nd. Piper Sandler raised their target price on shares of Workday from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, May 22nd. CLSA initiated coverage on shares of Workday in a research report on Monday. They set an “underperform” rating for the company. Finally, KeyCorp upped their price target on shares of Workday from $155.00 to $158.00 and gave the company an “overweight” rating in a report on Friday, May 22nd.

Insider Buying and Selling

In related news, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total transaction of $862,200.00. Following the completion of the transaction, the chief financial officer directly owned 288,460 shares in the company, valued at $41,451,702. The trade was a 2.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder David A. Duffield sold 107,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $122.04, for a total value of $13,119,300.00. Following the completion of the sale, the insider directly owned 105,049 shares in the company, valued at approximately $12,820,179.96. The trade was a 50.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 875,020 shares of company stock worth $113,938,503 in the last ninety days. Insiders own 18.64% of the company’s stock.

Institutional Trading of Workday

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rakuten Securities Inc. acquired a new position in Workday in the 2nd quarter valued at about $25,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Workday during the 3rd quarter worth about $26,000. DT Investment Partners LLC purchased a new stake in shares of Workday during the fourth quarter worth about $27,000. LRI Investments LLC purchased a new stake in shares of Workday during the fourth quarter worth about $29,000. Finally, JPL Wealth Management LLC acquired a new position in shares of Workday in the third quarter valued at approximately $30,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Performance

WDAY opened at $144.78 on Monday. Workday has a 1-year low of $110.36 and a 1-year high of $249.85. The stock has a market cap of $35.76 billion, a P/E ratio of 45.24, a P/E/G ratio of 1.55 and a beta of 1.11. The stock’s 50 day simple moving average is $131.46 and its 200 day simple moving average is $144.02. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.15. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.Workday’s revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.23 earnings per share. As a group, equities analysts anticipate that Workday will post 5.34 EPS for the current fiscal year.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.