Workday, Inc. (NASDAQ:WDAY) Receives $293.54 Average Target Price from Analysts

Workday, Inc. (NASDAQ:WDAY - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twenty-eight analysts that are currently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $293.54.

A number of research analysts recently issued reports on WDAY shares. JPMorgan Chase & Co. reduced their price target on Workday from $310.00 to $295.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Morgan Stanley set a $255.00 price target on Workday and gave the company an "equal weight" rating in a report on Friday, May 23rd. KeyCorp reduced their price target on Workday from $335.00 to $325.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. JMP Securities reiterated a "market outperform" rating and set a $315.00 target price on shares of Workday in a report on Friday, May 23rd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $300.00 target price on shares of Workday in a report on Wednesday, May 21st.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 70,144 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $250.26, for a total transaction of $17,554,237.44. Following the transaction, the insider now directly owns 102,997 shares of the company's stock, valued at approximately $25,776,029.22. This represents a 40.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 497 shares of the company's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total value of $112,595.35. Following the transaction, the chief accounting officer now directly owns 34,385 shares in the company, valued at approximately $7,789,921.75. The trade was a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 259,838 shares of company stock valued at $61,738,776 over the last 90 days. Corporate insiders own 19.31% of the company's stock.

Hedge Funds Weigh In On Workday

A number of large investors have recently made changes to their positions in the business. Simplicity Wealth LLC increased its position in shares of Workday by 3.0% during the fourth quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker's stock worth $330,000 after purchasing an additional 37 shares in the last quarter. AllSquare Wealth Management LLC increased its position in shares of Workday by 19.4% in the 4th quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker's stock valued at $65,000 after acquiring an additional 41 shares during the period. Private Trust Co. NA increased its position in shares of Workday by 15.2% in the 1st quarter. Private Trust Co. NA now owns 318 shares of the software maker's stock valued at $74,000 after acquiring an additional 42 shares during the period. CreativeOne Wealth LLC increased its position in shares of Workday by 1.5% in the 4th quarter. CreativeOne Wealth LLC now owns 2,889 shares of the software maker's stock valued at $745,000 after acquiring an additional 43 shares during the period. Finally, Salvus Wealth Management LLC increased its position in shares of Workday by 2.8% in the 1st quarter. Salvus Wealth Management LLC now owns 1,658 shares of the software maker's stock valued at $387,000 after acquiring an additional 45 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Trading Down 0.5%

NASDAQ:WDAY traded down $1.37 during mid-day trading on Friday, reaching $251.36. 1,679,985 shares of the company's stock traded hands, compared to its average volume of 2,465,193. Workday has a 12-month low of $199.81 and a 12-month high of $294.00. The firm has a market capitalization of $67.11 billion, a price-to-earnings ratio of 41.68, a PEG ratio of 3.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The company has a 50 day moving average price of $244.11 and a 200-day moving average price of $252.77.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly 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 return on equity of 6.13% and a net margin of 19.86%. 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 business earned $1.74 EPS. Workday's revenue was up 12.6% compared to the same quarter last year. On average, sell-side analysts predict 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.