Workday, Inc. (NASDAQ:WDAY) Receives Average Recommendation of "Moderate Buy" from Analysts

Workday, Inc. (NASDAQ:WDAY - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twenty-eight brokerages that are currently covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $293.54.

WDAY has been the topic of a number of research reports. Citigroup downgraded shares of Workday from a "neutral" rating to a "mixed" rating in a research report on Friday, May 16th. Redburn Atlantic started coverage on shares of Workday in a report on Wednesday, February 19th. They set a "neutral" rating on the stock. Guggenheim restated a "neutral" rating on shares of Workday in a report on Friday, May 23rd. The Goldman Sachs Group upped their price objective on shares of Workday from $310.00 to $345.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Finally, Scotiabank lowered their price objective on shares of Workday from $355.00 to $305.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th.

Insider Buying and Selling

In other news, CEO Carl M. Eschenbach sold 3,125 shares of Workday stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $241.23, for a total value of $753,843.75. Following the completion of the transaction, the chief executive officer now owns 7,722 shares in the company, valued at $1,862,778.06. This trade represents a 28.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 81,275 shares of Workday stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the completion of the transaction, the insider now owns 102,997 shares of the company's stock, valued at $22,111,395.96. The trade was a 44.11% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 252,338 shares of company stock worth $59,875,701. Insiders own 19.31% of the company's stock.

Hedge Funds Weigh In On Workday

Several large investors have recently modified their holdings of WDAY. Roxbury Financial LLC purchased a new position in shares of Workday in the fourth quarter worth about $25,000. Avion Wealth increased its stake in shares of Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker's stock worth $27,000 after purchasing an additional 86 shares in the last quarter. Cornerstone Planning Group LLC increased its stake in shares of Workday by 76.1% in the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock worth $28,000 after purchasing an additional 54 shares in the last quarter. Dagco Inc. purchased a new position in shares of Workday in the first quarter worth about $31,000. Finally, Farmers & Merchants Investments Inc. purchased a new position in shares of Workday in the first quarter worth about $32,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Workday Stock Up 1.0%

Shares of NASDAQ WDAY opened at $252.72 on Friday. The company has a market capitalization of $67.48 billion, a P/E ratio of 41.91, a price-to-earnings-growth ratio of 3.55 and a beta of 1.24. Workday has a 52-week low of $199.81 and a 52-week high of $294.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The company's 50 day moving average price is $242.59 and its 200-day moving average price is $252.99.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.01 by $0.22. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the previous year, the company earned $1.74 EPS. Workday's quarterly revenue was up 12.6% compared to the same quarter last year. Equities analysts forecast that Workday will post 2.63 earnings per share for the current 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.

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