Barclays Issues Positive Forecast for Workday (NASDAQ:WDAY) Stock Price

Key Points

• Barclays has increased its target price for Workday (NASDAQ: WDAY) from $285.00 to $288.00, indicating a potential upside of 22.62% from its current price and maintaining an "overweight" rating.
• Multiple analysts have rated Workday with a mix of ratings, resulting in an average rating of "Moderate Buy" and an average target price of $287.48.
• Workday reported a quarterly EPS of $2.21, exceeding analysts' expectations, with a year-over-year revenue growth of 12.6% valued at $2.35 billion.

Workday (NASDAQ:WDAY - Free Report) had its price objective lifted by Barclays from $285.00 to $288.00 in a research report report published on Thursday, Marketbeat.com reports. Barclays currently has an overweight rating on the software maker's stock.

Several other brokerages have also issued reports on WDAY. DA Davidson raised their target price on Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. JMP Securities reiterated a "market outperform" rating and set a $315.00 price target on shares of Workday in a report on Wednesday. JPMorgan Chase & Co. decreased their price target on Workday from $295.00 to $290.00 and set an "overweight" rating for the company in a report on Friday, August 22nd. UBS Group set a $304.00 price target on Workday in a report on Friday, August 22nd. Finally, Citigroup decreased their price target on Workday from $279.00 to $260.00 and set a "neutral" rating for the company in a report on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $287.83.

Workday Trading Up 0.1%

NASDAQ:WDAY traded up $0.12 during trading hours on Thursday, hitting $233.62. 5,925,724 shares of the company were exchanged, compared to its average volume of 3,765,603. The stock has a market capitalization of $62.38 billion, a price-to-earnings ratio of 108.16, a price-to-earnings-growth ratio of 3.08 and a beta of 1.12. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.33. Workday has a one year low of $205.33 and a one year high of $294.00. The company has a fifty day simple moving average of $228.66 and a 200 day simple moving average of $237.99.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.12. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.34 billion. Workday had a return on equity of 9.74% and a net margin of 6.51%.Workday's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the company earned $1.75 EPS. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Sell-side analysts expect that Workday will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Mark S. Garfield sold 451 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $234.86, for a total value of $105,921.86. Following the completion of the sale, the chief accounting officer directly owned 42,977 shares in the company, valued at $10,093,578.22. This trade represents a 1.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 78,564 shares of the firm's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $220.12, for a total value of $17,293,507.68. Following the completion of the sale, the insider owned 102,997 shares of the company's stock, valued at approximately $22,671,699.64. This represents a 43.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 328,024 shares of company stock worth $76,664,934 over the last 90 days. 19.31% of the stock is owned by company insiders.

Institutional Trading of Workday

Several large investors have recently made changes to their positions in the company. Nuveen LLC bought a new position in Workday in the 1st quarter valued at about $456,341,000. Norges Bank bought a new position in Workday in the 2nd quarter valued at about $442,702,000. T. Rowe Price Investment Management Inc. lifted its position in Workday by 47.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker's stock valued at $879,147,000 after acquiring an additional 1,211,659 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in Workday by 35.6% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 3,479,105 shares of the software maker's stock valued at $812,475,000 after acquiring an additional 913,613 shares in the last quarter. Finally, Generation Investment Management LLP lifted its position in Workday by 36.6% in the 1st quarter. Generation Investment Management LLP now owns 2,903,767 shares of the software maker's stock valued at $678,117,000 after acquiring an additional 778,301 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

About Workday

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.