Workday, Inc. (NASDAQ:WDAY) Given Average Rating of "Moderate Buy" by Analysts

Workday, Inc. (NASDAQ:WDAY - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twenty-eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and twenty-one have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $293.61.

WDAY has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Workday from $260.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, February 22nd. Evercore ISI lifted their price target on shares of Workday from $310.00 to $350.00 and gave the company an "outperform" rating in a research note on Tuesday, February 20th. Mizuho lifted their price target on shares of Workday from $290.00 to $325.00 and gave the company a "buy" rating in a research note on Tuesday, February 27th. StockNews.com cut shares of Workday from a "strong-buy" rating to a "buy" rating in a research note on Monday. Finally, Stifel Nicolaus lifted their price target on shares of Workday from $250.00 to $290.00 and gave the company a "hold" rating in a research note on Tuesday, February 27th.

Workday Stock Performance

WDAY stock traded up $2.49 during trading on Tuesday, reaching $271.10. The company had a trading volume of 1,232,699 shares, compared to its average volume of 1,820,236. The firm has a 50-day simple moving average of $283.73 and a 200-day simple moving average of $260.67. The company has a market cap of $71.57 billion, a price-to-earnings ratio of 52.64, a price-to-earnings-growth ratio of 6.70 and a beta of 1.32. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. Workday has a twelve month low of $174.25 and a twelve month high of $311.28.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.10. Workday had a net margin of 19.02% and a return on equity of 4.87%. The company had revenue of $1.92 billion during the quarter, compared to analysts' expectations of $1.92 billion. During the same period last year, the business earned ($0.14) EPS. Workday's revenue for the quarter was up 16.8% on a year-over-year basis. As a group, sell-side analysts expect that Workday will post 1.76 earnings per share for the current year.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 62,731 shares of the business's stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $281.45, for a total transaction of $17,655,639.95. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $28,988,505.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder David A. Duffield sold 64,162 shares of the company's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $271.67, for a total transaction of $17,430,890.54. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $27,981,194.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Duffield sold 62,731 shares of the company's stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $281.45, for a total transaction of $17,655,639.95. Following the sale, the insider now owns 102,997 shares in the company, valued at $28,988,505.65. The disclosure for this sale can be found here. Insiders have sold 376,202 shares of company stock worth $103,358,281 over the last three months. Company insiders own 21.09% of the company's stock.

Institutional Trading of Workday

Large investors have recently made changes to their positions in the company. Beacon Capital Management LLC boosted its holdings in Workday by 333.3% in the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker's stock valued at $25,000 after purchasing an additional 70 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Workday in the first quarter valued at approximately $25,000. VisionPoint Advisory Group LLC boosted its holdings in Workday by 215.4% in the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker's stock valued at $26,000 after purchasing an additional 84 shares in the last quarter. Clear Street Markets LLC acquired a new position in Workday in the third quarter valued at approximately $29,000. Finally, Quarry LP acquired a new position in Workday in the second quarter valued at approximately $29,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

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.