Workday (NASDAQ:WDAY) Given Outperform Rating at Oppenheimer

Oppenheimer reiterated their outperform rating on shares of Workday (NASDAQ:WDAY) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $300.00 target price on the software maker’s stock.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $300.00 target price on shares of Workday in a research note on Monday, November 25th. The Goldman Sachs Group increased their price objective on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Piper Sandler reaffirmed a “neutral” rating and issued a $270.00 target price (down from $285.00) on shares of Workday in a report on Wednesday, November 27th. Canaccord Genuity Group reiterated a “buy” rating and issued a $300.00 target price on shares of Workday in a research note on Friday, September 13th. Finally, KeyCorp raised their price target on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $288.14.

Workday Price Performance

WDAY stock opened at $257.06 on Tuesday. The firm has a 50-day moving average of $249.10 and a 200 day moving average of $237.25. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The company has a market cap of $68.12 billion, a P/E ratio of 42.63, a PEG ratio of 4.66 and a beta of 1.34. Workday has a 1 year low of $199.81 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.21%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the business earned $0.47 EPS. Workday’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, sell-side analysts forecast that Workday will post 2.57 EPS for the current year.

Insider Activity

In other news, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the sale, the director now directly owns 90,000 shares in the company, valued at $22,990,500. This trade represents a 7.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total value of $14,112,630.00. Following the completion of the transaction, the insider now owns 505,000 shares of the company’s stock, valued at $125,032,950. The trade was a 10.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 298,960 shares of company stock valued at $72,753,210 in the last ninety days. Corporate insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

Several hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC increased its holdings in Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after acquiring an additional 480,459 shares during the last quarter. State Street Corp increased its holdings in shares of Workday by 1.4% in the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after purchasing an additional 67,380 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Workday by 2.7% in the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after purchasing an additional 76,618 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Workday by 0.6% during the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock valued at $566,094,000 after buying an additional 14,159 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Workday by 4.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock valued at $482,133,000 after buying an additional 75,747 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

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.