Workday (NASDAQ:WDAY) Stock Rating Upgraded by Wall Street Zen

Workday (NASDAQ:WDAY - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Sunday.

Other analysts also recently issued reports about the stock. Loop Capital dropped their target price on shares of Workday from $285.00 to $250.00 and set a "hold" rating on the stock in a report on Friday, May 23rd. KeyCorp reduced their price objective on shares of Workday from $335.00 to $325.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Royal Bank Of Canada restated an "outperform" rating and set a $340.00 target price on shares of Workday in a report on Friday, May 23rd. Mizuho dropped their price objective on Workday from $320.00 to $275.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $300.00 price objective on shares of Workday in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Workday has a consensus rating of "Moderate Buy" and a consensus price target of $296.88.

Workday Trading Down 2.6%

NASDAQ:WDAY opened at $223.37 on Friday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.33. Workday has a 1-year low of $199.81 and a 1-year high of $294.00. The firm has a market capitalization of $59.64 billion, a price-to-earnings ratio of 123.41, a PEG ratio of 3.37 and a beta of 1.21. The business's 50-day moving average price is $248.29 and its two-hundred day moving average price is $248.37.

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 for the quarter, beating analysts' consensus estimates of $2.01 by $0.22. Workday had a net margin of 5.60% and a return on equity of 8.00%. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the company posted $1.74 EPS. Workday's revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities analysts expect that Workday will post 2.63 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the completion of the sale, the chief executive officer owned 1,472 shares of the company's stock, valued at approximately $352,440.96. This represents a 80.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the sale, the director owned 67,500 shares in the company, valued at $16,767,675. This represents a 10.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 328,554 shares of company stock valued at $79,097,601 over the last 90 days. 19.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WDAY. Janney Montgomery Scott LLC boosted its holdings in shares of Workday by 5.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 22,645 shares of the software maker's stock valued at $5,288,000 after acquiring an additional 1,070 shares in the last quarter. Kingswood Wealth Advisors LLC increased its holdings in Workday by 13.9% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,136 shares of the software maker's stock worth $265,000 after purchasing an additional 139 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in Workday in the first quarter worth $290,000. Golden State Wealth Management LLC increased its position in Workday by 9,166.7% in the 1st quarter. Golden State Wealth Management LLC now owns 278 shares of the software maker's stock valued at $65,000 after buying an additional 275 shares in the last quarter. Finally, Brighton Jones LLC raised its position in shares of Workday by 230.2% during the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker's stock worth $1,033,000 after purchasing an additional 2,792 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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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