Workday (NASDAQ:WDAY) Receives “Market Outperform” Rating from JMP Securities

Workday (NASDAQ:WDAY)‘s stock had its “market outperform” rating reiterated by research analysts at JMP Securities in a research note issued on Thursday,Benzinga reports. They presently have a $315.00 price objective on the software maker’s stock. JMP Securities’ price objective would indicate a potential upside of 11.77% from the company’s previous close.

Several other analysts have also recently issued reports on WDAY. Citigroup dropped their target price on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. StockNews.com lowered Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Mizuho increased their target price on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Scotiabank initiated coverage on shares of Workday in a research note on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price target on the stock. Finally, Morgan Stanley upped their target price on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $292.43.

Workday Trading Up 2.1 %

Workday stock traded up $5.67 during trading hours on Thursday, hitting $281.84. The company had a trading volume of 926,656 shares, compared to its average volume of 2,032,568. The firm has a market cap of $74.97 billion, a P/E ratio of 46.77, a P/E/G ratio of 4.73 and a beta of 1.35. The company has a 50-day moving average price of $261.15 and a two-hundred day moving average price of $249.72. Workday has a 1 year low of $199.81 and a 1 year high of $311.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.13. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 EPS. On average, sell-side analysts anticipate that Workday will post 2.63 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the transaction, the chief executive officer now directly owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Wayne A.I. Frederick sold 1,829 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total value of $462,901.61. Following the sale, the director now owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 438,819 shares of company stock worth $113,142,592. Insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Roxbury Financial LLC bought a new position in Workday in the fourth quarter valued at about $25,000. Capital Performance Advisors LLP acquired a new stake in Workday in the third quarter worth $26,000. Crews Bank & Trust bought a new stake in Workday in the fourth quarter valued at $26,000. Avion Wealth grew its stake in shares of Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after buying an additional 86 shares during the period. Finally, Meeder Asset Management Inc. increased its holdings in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares in the last quarter. 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.