Brokerages Set Workday, Inc. (NASDAQ:WDAY) Price Target at $287.04

Shares of Workday, Inc. (NASDAQ:WDAY) have been given an average rating of “Moderate Buy” by the twenty-seven research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $287.04.

Several research analysts recently commented on the company. Evercore ISI dropped their price target on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. BMO Capital Markets reissued an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research note on Wednesday, September 18th. Piper Sandler reissued an “overweight” rating and issued a $285.00 price objective on shares of Workday in a research note on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Finally, DA Davidson raised their price objective on shares of Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd.

Workday Trading Down 2.8 %

WDAY opened at $235.47 on Tuesday. The firm has a market cap of $62.40 billion, a P/E ratio of 42.43, a P/E/G ratio of 4.81 and a beta of 1.35. Workday has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average of $240.30 and a 200 day moving average of $240.05.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping the consensus estimate of $1.65 by $0.10. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm’s revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the business posted $0.40 earnings per share. As a group, research analysts forecast that Workday will post 2.4 EPS for the current year.

Insider Activity at Workday

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.32, for a total value of $1,952,400.00. Following the transaction, the director now directly owns 97,500 shares of the company’s stock, valued at approximately $25,381,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Workday news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.32, for a total value of $1,952,400.00. Following the transaction, the director now directly owns 97,500 shares of the company’s stock, valued at approximately $25,381,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Friday, July 12th. The stock was sold at an average price of $229.32, for a total transaction of $12,841,920.00. Following the completion of the transaction, the insider now directly owns 562,000 shares in the company, valued at $128,877,840. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 309,613 shares of company stock valued at $76,348,820 over the last ninety days. 20.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Workday

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Workday by 2.2% during the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after buying an additional 324,540 shares during the last quarter. Sustainable Growth Advisers LP grew its holdings in shares of Workday by 9.7% during the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after buying an additional 301,463 shares during the last quarter. Clearbridge Investments LLC grew its holdings in shares of Workday by 12.4% during the first quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock valued at $693,382,000 after buying an additional 281,207 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Workday by 79.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after buying an additional 1,016,394 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Workday by 7.4% during the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after purchasing an additional 118,180 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

About Workday

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.