Brokerages Set Workday, Inc. (NASDAQ:WDAY) Price Target at $269.06

Shares of Workday, Inc. (NASDAQ:WDAY) have been assigned a consensus recommendation of “Moderate Buy” from the thirty-nine brokerages that are currently covering the firm, Marketbeat reports. Thirteen equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $269.0606.

Several analysts have weighed in on WDAY shares. Rosenblatt Securities began coverage on Workday in a report on Tuesday, December 2nd. They issued a “neutral” rating and a $235.00 target price on the stock. Macquarie Infrastructure reissued a “buy” rating on shares of Workday in a research note on Wednesday, November 26th. Evercore ISI set a $200.00 target price on shares of Workday in a report on Monday, February 9th. Wall Street Zen raised shares of Workday from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, KeyCorp lowered their price target on shares of Workday from $285.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th.

Insider Activity

In other news, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $208.75, for a total transaction of $1,252,500.00. Following the completion of the sale, the chief financial officer directly owned 159,158 shares in the company, valued at $33,224,232.50. The trade was a 3.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Richard Harry Sauer sold 1,130 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $210.00, for a total transaction of $237,300.00. Following the transaction, the insider directly owned 85,398 shares in the company, valued at $17,933,580. The trade was a 1.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 370,321 shares of company stock worth $78,866,401 in the last quarter. 20.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Rakuten Securities Inc. purchased a new stake in shares of Workday in the second quarter valued at $25,000. Measured Wealth Private Client Group LLC acquired a new stake in Workday in the 3rd quarter worth about $26,000. DT Investment Partners LLC purchased a new stake in Workday in the 4th quarter valued at about $27,000. LRI Investments LLC purchased a new stake in Workday in the 4th quarter valued at about $29,000. Finally, JPL Wealth Management LLC acquired a new position in shares of Workday during the 3rd quarter valued at about $30,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Stock Up 0.3%

WDAY stock opened at $144.42 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.34. The company’s 50-day moving average price is $196.02 and its 200 day moving average price is $217.78. Workday has a 52 week low of $140.59 and a 52 week high of $281.00. The company has a market cap of $37.98 billion, a P/E ratio of 60.68, a P/E/G ratio of 1.23 and a beta of 1.14.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, topping the consensus estimate of $2.17 by $0.15. The business had revenue of $2.43 billion for 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%.The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.89 EPS. On average, research analysts expect 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.