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

JMP Securities reissued their market outperform rating on shares of Workday (NASDAQ:WDAY) in a research note released on Friday, Benzinga reports. They currently have a $315.00 price target on the software maker’s stock.

WDAY has been the subject of a number of other research reports. Mizuho decreased their price objective on Workday from $325.00 to $280.00 and set a buy rating for the company in a report on Friday. Morgan Stanley dropped their price objective on shares of Workday from $330.00 to $325.00 and set an overweight rating on the stock in a research note on Friday. Stifel Nicolaus decreased their target price on shares of Workday from $290.00 to $250.00 and set a hold rating for the company in a research note on Friday. Evercore ISI dropped their price target on Workday from $350.00 to $300.00 and set an outperform rating on the stock in a research report on Friday. Finally, BMO Capital Markets reduced their price objective on Workday from $338.00 to $300.00 and set an outperform rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, Workday currently has a consensus rating of Moderate Buy and a consensus price target of $283.96.

Workday Trading Down 15.3 %

NASDAQ WDAY traded down $39.99 on Friday, hitting $220.91. The company’s stock had a trading volume of 15,622,846 shares, compared to its average volume of 2,392,779. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday has a 52-week low of $192.68 and a 52-week high of $311.28. The firm has a market cap of $58.32 billion, a P/E ratio of 39.80, a PEG ratio of 7.78 and a beta of 1.33. The company’s 50-day simple moving average is $259.94 and its 200 day simple moving average is $268.90.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, topping the consensus estimate of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 6.02%. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the business earned $0.16 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. Research analysts predict that Workday will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 64,329 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $268.85, for a total value of $17,294,851.65. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $27,690,743.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $264.89, for a total value of $14,833,840.00. Following the sale, the insider now owns 843,000 shares of the company’s stock, valued at approximately $223,302,270. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 64,329 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $27,690,743.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 435,691 shares of company stock worth $117,731,569. Corporate insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

A number of large investors have recently made changes to their positions in WDAY. ORG Partners LLC increased its stake in Workday by 1.2% during the fourth quarter. ORG Partners LLC now owns 2,856 shares of the software maker’s stock worth $788,000 after acquiring an additional 34 shares during the last quarter. VisionPoint Advisory Group LLC boosted its holdings in shares of Workday by 27.6% in the 4th quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock worth $43,000 after purchasing an additional 34 shares during the period. Carolinas Wealth Consulting LLC raised its holdings in Workday by 9.7% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock valued at $106,000 after buying an additional 34 shares during the period. Washington Trust Advisors Inc. raised its holdings in Workday by 8.1% during the 4th quarter. Washington Trust Advisors Inc. now owns 481 shares of the software maker’s stock valued at $133,000 after buying an additional 36 shares during the period. Finally, Meitav Investment House Ltd. boosted its stake in Workday by 2.6% during the fourth quarter. Meitav Investment House Ltd. now owns 1,401 shares of the software maker’s stock worth $387,000 after buying an additional 36 shares during the period. 89.81% of the stock is currently 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.