Workday, Inc. (NASDAQ:WDAY) Receives $185.03 Consensus Target Price from Analysts

Shares of Workday, Inc. (NASDAQ:WDAY) have earned an average recommendation of “Moderate Buy” from the thirty-five ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation, eighteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $185.0303.

A number of equities research analysts recently commented on WDAY shares. Wolfe Research reiterated an “outperform” rating and issued a $160.00 price objective on shares of Workday in a report on Friday, May 22nd. KeyCorp upped their price objective on Workday from $155.00 to $158.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Wall Street Zen raised shares of Workday from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Workday in a research note on Wednesday, June 17th. Finally, Piper Sandler upped their target price on shares of Workday from $135.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, May 22nd.

Insider Transactions at Workday

In other Workday news, CAO Mark S. Garfield sold 1,585 shares of the stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $113.05, for a total value of $179,184.25. Following the completion of the sale, the chief accounting officer directly owned 31,467 shares in the company, valued at $3,557,344.35. This represents a 4.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder David A. Duffield sold 107,500 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $114.25, for a total value of $12,281,875.00. Following the completion of the sale, the insider owned 105,049 shares of the company’s stock, valued at $12,001,848.25. This trade represents a 50.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 774,814 shares of company stock valued at $99,846,591. Corporate insiders own 18.64% of the company’s stock.

Institutional Investors Weigh In On Workday

Several large investors have recently modified their holdings of WDAY. Rakuten Securities Inc. bought a new position in shares of Workday during the second quarter worth about $25,000. Measured Wealth Private Client Group LLC bought a new position in shares of Workday in the 3rd quarter valued at about $26,000. DT Investment Partners LLC bought a new position in shares of Workday in the 4th quarter valued at about $27,000. LRI Investments LLC bought a new position in shares of Workday during the 4th quarter worth approximately $29,000. Finally, JPL Wealth Management LLC acquired a new position in Workday in the 3rd quarter valued at about $30,000. 89.81% of the stock is currently owned by institutional investors.

Workday Trading Up 2.6%

WDAY stock opened at $118.10 on Thursday. The company has a market cap of $29.17 billion, a P/E ratio of 36.91, a PEG ratio of 1.23 and a beta of 1.09. Workday has a twelve month low of $110.36 and a twelve month high of $249.85. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $127.54 and a 200-day moving average of $154.06.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.15. The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. Workday’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.23 earnings per share. As a group, equities research analysts expect that Workday will post 5.34 EPS for the current year.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.