Workday (NASDAQ:WDAY) Research Coverage Started at Rosenblatt Securities

Rosenblatt Securities initiated coverage on shares of Workday (NASDAQ:WDAY) in a report published on Tuesday, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $235.00 price target on the software maker’s stock.

A number of other equities research analysts also recently weighed in on WDAY. Morgan Stanley lifted their price target on shares of Workday from $255.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 26th. DA Davidson dropped their price objective on Workday from $260.00 to $250.00 and set a “hold” rating for the company in a report on Wednesday, November 26th. Canaccord Genuity Group reduced their price target on Workday from $330.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, August 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Workday from $290.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Finally, KeyCorp decreased their target price on Workday from $285.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $281.16.

Workday Stock Up 0.8%

WDAY stock opened at $216.62 on Tuesday. The company’s 50 day simple moving average is $231.04 and its 200-day simple moving average is $234.36. The firm has a market capitalization of $57.84 billion, a P/E ratio of 91.02, a P/E/G ratio of 2.60 and a beta of 1.15. Workday has a 52-week low of $205.33 and a 52-week high of $294.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.15. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.42 billion. Workday had a return on equity of 10.50% and a net margin of 6.95%.Workday’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period last year, the company earned $1.89 earnings per share. As a group, equities research analysts anticipate that Workday will post 2.63 EPS for the current year.

Insider Transactions at Workday

In related news, CAO Mark S. Garfield sold 1,915 shares of the stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $238.96, for a total value of $457,608.40. Following the sale, the chief accounting officer owned 37,351 shares in the company, valued at approximately $8,925,394.96. This represents a 4.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael M. Mcnamara sold 5,393 shares of the firm’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $235.16, for a total value of $1,268,217.88. Following the sale, the director directly owned 24,078 shares of the company’s stock, valued at $5,662,182.48. This represents a 18.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 346,958 shares of company stock valued at $78,880,645. Company insiders own 19.31% of the company’s stock.

Hedge Funds Weigh In On Workday

Several large investors have recently modified their holdings of WDAY. Vanguard Group Inc. boosted its holdings in shares of Workday by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 21,799,056 shares of the software maker’s stock worth $5,247,687,000 after buying an additional 684,872 shares during the period. State Street Corp lifted its position in Workday by 0.8% during the third quarter. State Street Corp now owns 9,674,568 shares of the software maker’s stock worth $2,328,959,000 after acquiring an additional 74,052 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Workday by 47.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock worth $1,406,463,000 after acquiring an additional 1,882,391 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Workday by 2.9% during the second quarter. Geode Capital Management LLC now owns 4,952,938 shares of the software maker’s stock worth $1,183,112,000 after acquiring an additional 140,042 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its position in shares of Workday by 47.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker’s stock valued at $879,147,000 after purchasing an additional 1,211,659 shares during the last quarter. 89.81% of the stock is owned by 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.