Workday (NASDAQ:WDAY) Upgraded at Zacks Research

Key Points

• Workday has been upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating, indicating increased confidence in the stock's potential.
• Several analysts have raised their price targets for Workday, with a consensus target of $287.83 and a majority rating the stock as a "Buy" or "Strong Buy."
• Workday's latest quarterly earnings report exceeded expectations, with earnings of $2.21 per share and revenue of $2.35 billion, showcasing a year-over-year revenue growth of 12.6%.

Workday (NASDAQ:WDAY - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Evercore ISI raised their price target on Workday from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Wednesday. Cantor Fitzgerald reiterated an "overweight" rating and set a $265.00 target price on shares of Workday in a research note on Wednesday. Wells Fargo & Company dropped their price target on Workday from $325.00 to $300.00 and set an "overweight" rating for the company in a report on Monday, August 18th. Loop Capital dropped their price target on Workday from $285.00 to $250.00 and set a "hold" rating for the company in a report on Friday, May 23rd. Finally, Citigroup dropped their price target on Workday from $279.00 to $260.00 and set a "neutral" rating for the company in a report on Friday, August 22nd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Workday has a consensus rating of "Moderate Buy" and a consensus price target of $287.83.

Workday Price Performance

NASDAQ:WDAY traded up $0.12 during trading hours on Thursday, reaching $233.62. The company had a trading volume of 5,925,724 shares, compared to its average volume of 3,765,603. The stock has a 50-day moving average of $228.66 and a two-hundred day moving average of $237.99. Workday has a one year low of $205.33 and a one year high of $294.00. The firm has a market capitalization of $62.38 billion, a PE ratio of 108.16, a PEG ratio of 3.08 and a beta of 1.12. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.33.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share for the quarter, beating analysts' consensus estimates of $2.09 by $0.12. Workday had a return on equity of 9.74% and a net margin of 6.51%.The firm had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.34 billion. During the same period in the prior year, the business posted $1.75 earnings per share. The business's revenue was up 12.6% compared to the same quarter last year. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Analysts forecast that Workday will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In other news, insider Richard Harry Sauer sold 1,160 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $235.41, for a total value of $273,075.60. Following the transaction, the insider directly owned 95,756 shares of the company's stock, valued at $22,541,919.96. The trade was a 1.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mark S. Garfield sold 451 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $234.86, for a total value of $105,921.86. Following the completion of the transaction, the chief accounting officer directly owned 42,977 shares in the company, valued at $10,093,578.22. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 328,024 shares of company stock worth $76,664,934. 19.31% of the stock is currently owned by insiders.

Institutional Trading of Workday

Institutional investors and hedge funds have recently modified their holdings of the stock. Brighton Jones LLC grew its holdings in shares of Workday by 230.2% in the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker's stock valued at $1,033,000 after acquiring an additional 2,792 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in shares of Workday by 24.0% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,075 shares of the software maker's stock worth $793,000 after acquiring an additional 595 shares during the period. Waverly Advisors LLC bought a new position in shares of Workday in the fourth quarter worth $432,000. Focus Partners Advisor Solutions LLC raised its position in shares of Workday by 28.7% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 1,405 shares of the software maker's stock worth $363,000 after buying an additional 313 shares in the last quarter. Finally, Vise Technologies Inc. raised its position in shares of Workday by 46.5% in the fourth quarter. Vise Technologies Inc. now owns 3,485 shares of the software maker's stock worth $899,000 after buying an additional 1,106 shares in the last quarter. 89.81% of the stock is 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.

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