Workday's (WDAY) Market Outperform Rating Reaffirmed at JMP Securities

Workday (NASDAQ:WDAY - Get Free Report)'s stock had its "market outperform" rating reaffirmed by equities researchers at JMP Securities in a report released on Friday,Benzinga reports. They currently have a $315.00 price objective on the software maker's stock. JMP Securities' target price points to a potential upside of 31.10% from the stock's previous close.

Other equities research analysts have also issued research reports about the stock. Citigroup lowered shares of Workday from a "neutral" rating to a "mixed" rating in a report on Friday, May 16th. Westpark Capital upped their price objective on Workday from $315.00 to $328.00 and gave the company a "buy" rating in a report on Friday. Oppenheimer upped their price target on Workday from $300.00 to $320.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. increased their target price on shares of Workday from $285.00 to $310.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Finally, Redburn Atlantic initiated coverage on shares of Workday in a research report on Wednesday, February 19th. They set a "neutral" rating for the company. Nine research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $295.62.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $240.27 on Friday. The business's 50 day moving average price is $242.85 and its 200-day moving average price is $254.22. 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 firm has a market capitalization of $63.91 billion, a PE ratio of 39.53, a P/E/G ratio of 3.55 and a beta of 1.30. Workday has a 1 year low of $199.81 and a 1 year high of $294.00.

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

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 66,455 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total value of $17,246,401.60. Following the completion of the sale, the insider now owns 102,997 shares of the company's stock, valued at approximately $26,729,781.44. The trade was a 39.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Mark S. Garfield sold 497 shares of Workday stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total transaction of $112,595.35. Following the completion of the sale, the chief accounting officer now owns 34,385 shares of the company's stock, valued at $7,789,921.75. This trade represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 321,724 shares of company stock worth $77,976,126 in the last 90 days. 19.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. lifted its position in shares of Workday by 211.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker's stock worth $44,000 after purchasing an additional 127 shares during the last quarter. Focus Partners Wealth boosted its position in shares of Workday by 6.6% in the first quarter. Focus Partners Wealth now owns 186,096 shares of the software maker's stock valued at $43,459,000 after acquiring an additional 11,492 shares during the period. Anchor Investment Management LLC grew its stake in shares of Workday by 3.5% in the first quarter. Anchor Investment Management LLC now owns 7,255 shares of the software maker's stock worth $1,694,000 after acquiring an additional 245 shares during the last quarter. SCS Capital Management LLC acquired a new position in Workday during the 1st quarter valued at $2,756,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Workday by 2.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,245,249 shares of the software maker's stock valued at $524,333,000 after purchasing an additional 54,079 shares during the period. 89.81% of the stock is owned by 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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