Analysts Set Workday, Inc. (NASDAQ:WDAY) Target Price at $293.61

Shares of Workday, Inc. (NASDAQ:WDAY) have been given an average rating of “Moderate Buy” by the twenty-eight analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $293.61.

WDAY has been the topic of several research reports. Piper Sandler reissued an “overweight” rating and set a $330.00 price target on shares of Workday in a research report on Monday, February 26th. UBS Group lowered their target price on shares of Workday from $315.00 to $300.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Evercore ISI lifted their price objective on shares of Workday from $310.00 to $350.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. DA Davidson reissued a “neutral” rating and issued a $300.00 target price on shares of Workday in a report on Tuesday, February 27th. Finally, StockNews.com downgraded Workday from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 8th.

Insider Buying and Selling at Workday

In related news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total transaction of $916,918.59. Following the sale, the insider now directly owns 165,932 shares of the company’s stock, valued at approximately $48,749,162.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $264.89, for a total value of $14,833,840.00. Following the transaction, the insider now owns 843,000 shares in the company, valued at approximately $223,302,270. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the transaction, the insider now owns 165,932 shares in the company, valued at approximately $48,749,162.28. The disclosure for this sale can be found here. Insiders have sold a total of 435,691 shares of company stock valued at $117,731,569 in the last ninety days. 21.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Workday by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock valued at $3,988,549,000 after acquiring an additional 437,215 shares during the period. Norges Bank acquired a new position in shares of Workday during the 4th quarter valued at $1,491,149,000. Wellington Management Group LLP lifted its position in shares of Workday by 37.4% during the 3rd quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after acquiring an additional 1,406,153 shares during the period. Polen Capital Management LLC lifted its position in shares of Workday by 2.0% during the 3rd quarter. Polen Capital Management LLC now owns 3,950,320 shares of the software maker’s stock valued at $848,726,000 after acquiring an additional 78,352 shares during the period. Finally, Sustainable Growth Advisers LP lifted its position in shares of Workday by 9.7% during the 1st quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after acquiring an additional 301,463 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Price Performance

Workday stock opened at $249.63 on Friday. Workday has a 52-week low of $174.70 and a 52-week high of $311.28. The firm has a market capitalization of $65.90 billion, a price-to-earnings ratio of 48.47, a PEG ratio of 6.39 and a beta of 1.33. The company has a fifty day simple moving average of $266.02 and a 200-day simple moving average of $266.06. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.10. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.92 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. Workday’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. On average, equities analysts anticipate that Workday will post 1.76 EPS for the current fiscal year.

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.