Brokerages Set Workday, Inc. (NASDAQ:WDAY) Target Price at $282.22

Workday, Inc. (NASDAQ:WDAY) has received a consensus rating of “Moderate Buy” from the forty analysts that are currently covering the company, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a hold recommendation, twenty-six have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $282.2188.

A number of equities research analysts recently weighed in on WDAY shares. Wells Fargo & Company reduced their price objective on Workday from $300.00 to $290.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Macquarie reissued a “buy” rating on shares of Workday in a research note on Wednesday, November 26th. Guggenheim restated a “buy” rating and set a $285.00 price target on shares of Workday in a report on Wednesday, November 26th. DA Davidson dropped their price objective on shares of Workday from $260.00 to $250.00 and set a “hold” rating for the company in a report on Wednesday, November 26th. Finally, Morgan Stanley lifted their target price on shares of Workday from $255.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 26th.

Insider Activity at Workday

In related news, Director Michael M. Mcnamara sold 5,393 shares of the business’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 owned 24,078 shares of the company’s stock, valued at $5,662,182.48. The trade was a 18.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $237.52, for a total value of $1,484,500.00. Following the transaction, the chief executive officer directly owned 20,222 shares of the company’s stock, valued at approximately $4,803,129.44. This represents a 23.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 347,216 shares of company stock valued at $76,579,774 in the last quarter. Insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Several institutional investors have recently added to or reduced their stakes in WDAY. AlphaQuest LLC boosted its stake in Workday by 636.7% in the second quarter. AlphaQuest LLC now owns 1,886 shares of the software maker’s stock valued at $453,000 after acquiring an additional 1,630 shares during the last quarter. Norges Bank bought a new stake in shares of Workday in the 2nd quarter worth approximately $442,702,000. Chicago Capital LLC lifted its stake in Workday by 2.2% in the second quarter. Chicago Capital LLC now owns 175,802 shares of the software maker’s stock valued at $42,193,000 after purchasing an additional 3,824 shares during the last quarter. Stance Capital LLC bought a new position in Workday during the second quarter valued at $1,276,000. Finally, Vanguard Group Inc. increased its position in Workday by 2.5% in the second quarter. Vanguard Group Inc. now owns 21,114,184 shares of the software maker’s stock worth $5,067,404,000 after buying an additional 515,529 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Workday Trading Down 0.8%

Shares of Workday stock opened at $218.99 on Thursday. The firm’s 50 day moving average is $224.95 and its 200 day moving average is $230.15. The firm has a market capitalization of $57.59 billion, a PE ratio of 92.01, a price-to-earnings-growth ratio of 2.49 and a beta of 1.15. Workday has a 1 year low of $205.33 and a 1 year high of $283.68. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.34.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.15. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.42 billion. Workday had a net margin of 6.95% and a return on equity of 10.50%. The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the business posted $1.89 earnings per share. Equities research analysts forecast that Workday will post 2.63 earnings per share for the current fiscal year.

Workday Company Profile

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.