Workday, Inc. (NASDAQ:WDAY) Stock Has Average Target Price of $202.10 According to Brokerages

Key Points

• Analyst sentiment is mixed: 43 firms have an average “Hold” rating on Workday, with a consensus 1-year price target of $202.10; 22 rate it a buy, 19 a hold and 2 a sell.
• Workday beat quarterly expectations: It reported EPS of $2.75 versus $2.61 expected and revenue of $2.65 billion, up 12.8% year over year.
• Insiders sold shares: Company insiders sold 988,104 shares worth about $188.8 million over the past three months.

Workday, Inc. (NASDAQ:WDAY - Get Free Report) has been given an average recommendation of "Hold" by the forty-three ratings firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-two have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $202.10.

Several equities research analysts have recently commented on the company. Barclays upped their price target on Workday from $200.00 to $224.00 and gave the stock an "overweight" rating in a report on Friday, August 28th. William Blair reaffirmed an "outperform" rating on shares of Workday in a research note on Friday, August 28th. BNP Paribas Exane lifted their price objective on Workday from $160.00 to $220.00 and gave the stock an "outperform" rating in a report on Friday, August 28th. Sanford C. Bernstein boosted their target price on Workday from $216.00 to $238.00 and gave the stock an "outperform" rating in a research report on Friday, August 28th. Finally, DA Davidson boosted their target price on Workday from $135.00 to $190.00 and gave the stock a "neutral" rating in a research report on Friday, August 28th.

Workday Price Performance

WDAY stock traded up $5.81 during trading on Friday, reaching $196.45. 1,730,934 shares of the company were exchanged, compared to its average volume of 2,147,996. The company has a market cap of $47.34 billion, a P/E ratio of 39.85, a PEG ratio of 1.92 and a beta of 1.02. Workday has a 52-week low of $110.36 and a 52-week high of $236.80. The stock's 50 day moving average price is $193.31 and its 200 day moving average price is $156.57. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91.

Workday (NASDAQ:WDAY - Get Free Report) last issued its earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.14. Workday had a net margin of 12.32% and a return on equity of 20.95%. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the business posted $2.21 earnings per share. The firm's revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, analysts predict that Workday will post 5.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In other news, major shareholder David Duffield sold 100,780 shares of Workday stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $185.64, for a total transaction of $18,708,799.20. Following the completion of the transaction, the insider owned 105,049 shares of the company's stock, valued at $19,501,296.36. The trade was a 48.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 988,104 shares of company stock valued at $188,811,574 in the last three months. Company insiders own 18.64% of the company's stock.

Institutional Investors Weigh In On Workday

A number of large investors have recently added to or reduced their stakes in WDAY. Jump Financial LLC purchased a new position in Workday during the 3rd quarter valued at about $8,856,000. L2 Asset Management LLC purchased a new stake in shares of Workday in the third quarter valued at about $224,000. EP Wealth Advisors LLC lifted its holdings in shares of Workday by 2.5% in the third quarter. EP Wealth Advisors LLC now owns 7,669 shares of the software maker's stock valued at $1,457,000 after purchasing an additional 190 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Workday by 20.0% in the third quarter. Empowered Funds LLC now owns 254,760 shares of the software maker's stock valued at $48,522,000 after purchasing an additional 42,420 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Workday by 265.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 792,780 shares of the software maker's stock valued at $150,993,000 after purchasing an additional 575,864 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Company Profile

Workday, Inc. develops cloud-based software for managing human resources, finance and business operations. Its products include Workday Human Capital Management, Workday Financial Management and Workday Adaptive Planning, which help organizations manage areas such as workforce administration, accounting, budgeting and forecasting. Founded in 2005 by Dave Duffield and Aneel Bhusri, Workday serves businesses, governments and educational institutions across a range of industries. Its operations and customer base extend across North America and international markets.

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