Workday (NASDAQ:WDAY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Workday (NASDAQ:WDAY) from a hold rating to a buy rating in a research report released on Saturday.

A number of other equities research analysts have also issued reports on the stock. Raymond James Financial reaffirmed a “market perform” rating on shares of Workday in a report on Monday, February 9th. TD Cowen downgraded shares of Workday from a “buy” rating to a “hold” rating and set a $155.00 price target on the stock. in a research note on Wednesday, February 25th. Sanford C. Bernstein lowered their price target on shares of Workday from $298.00 to $214.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Guggenheim dropped their price objective on shares of Workday from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Finally, Citizens Jmp downgraded shares of Workday from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 18th. Nineteen equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $199.71.

Workday Price Performance

Shares of Workday stock opened at $128.77 on Friday. The stock has a market capitalization of $33.09 billion, a P/E ratio of 49.91, a PEG ratio of 1.21 and a beta of 1.17. The business has a 50 day simple moving average of $149.25 and a two-hundred day simple moving average of $198.17. Workday has a 12 month low of $117.76 and a 12 month high of $276.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, topping the consensus estimate of $2.32 by $0.15. Workday had a return on equity of 13.37% and a net margin of 7.26%.The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the business earned $1.92 earnings per share. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, analysts predict that Workday will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 107,500 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $136.82, for a total value of $14,708,150.00. Following the completion of the transaction, the insider owned 105,049 shares of the company’s stock, valued at approximately $14,372,804.18. This trade represents a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction that occurred on 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 transaction, the chief financial officer owned 159,158 shares of the company’s stock, valued at $33,224,232.50. This trade represents a 3.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 765,036 shares of company stock worth $113,952,492 over the last ninety days. Company insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

Several institutional investors have recently modified their holdings of the business. First Eagle Investment Management LLC purchased a new position in Workday in the third quarter worth approximately $556,252,000. PKO Investment Management Joint Stock Co purchased a new stake in shares of Workday in the 3rd quarter valued at approximately $1,805,000. Phoenix Financial Ltd. acquired a new stake in shares of Workday in the 3rd quarter valued at $2,000,000. Rakuten Investment Management Inc. acquired a new stake in shares of Workday in the 3rd quarter valued at $124,718,000. Finally, Norges Bank purchased a new stake in shares of Workday during the 2nd quarter worth $442,702,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

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.