Workday, Inc. (NASDAQ:WDAY) Receives $282.70 Average Price Target from Brokerages

by · The Markets Daily

Workday, Inc. (NASDAQ:WDAY – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the thirty-nine brokerages that are currently covering the firm, MarketBeat.com reports. Twelve investment analysts have rated the stock with a hold recommendation, twenty-five have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $281.1613.

Several analysts recently weighed in on WDAY shares. Cowen reissued a “buy” rating on shares of Workday in a report on Wednesday, November 26th. UBS Group set a $260.00 price objective on shares of Workday in a report on Wednesday, November 26th. JPMorgan Chase & Co. dropped their target price on shares of Workday from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. TD Cowen reduced their price target on shares of Workday from $290.00 to $280.00 and set a “buy” rating on the stock in a research report on Wednesday, November 26th. Finally, Citigroup lowered their price objective on shares of Workday from $261.00 to $247.00 and set a “neutral” rating for the company in a research report on Wednesday, November 26th.

Check Out Our Latest Analysis on Workday

Insider Activity at Workday

In related news, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $232.62, for a total transaction of $1,395,720.00. Following the completion of the transaction, the chief financial officer owned 168,468 shares in the company, valued at $39,189,026.16. The trade was a 3.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael M. Mcnamara sold 5,393 shares of the company’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $235.16, for a total value of $1,268,217.88. Following the transaction, the director owned 24,078 shares of the company’s stock, valued at approximately $5,662,182.48. The trade was a 18.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 264,933 shares of company stock valued at $61,475,760. 20.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WDAY. Vanguard Group Inc. boosted its position in shares of Workday by 3.2% during the third quarter. Vanguard Group Inc. now owns 21,799,056 shares of the software maker’s stock worth $5,247,687,000 after buying an additional 684,872 shares during the period. State Street Corp increased its position in Workday by 0.8% in the 3rd quarter. State Street Corp now owns 9,674,568 shares of the software maker’s stock valued at $2,328,959,000 after acquiring an additional 74,052 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in Workday by 47.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock valued at $1,406,463,000 after acquiring an additional 1,882,391 shares in the last quarter. Geode Capital Management LLC boosted its position in Workday by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 4,952,938 shares of the software maker’s stock worth $1,183,112,000 after acquiring an additional 140,042 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its position in Workday by 47.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker’s stock worth $879,147,000 after acquiring an additional 1,211,659 shares during the period. Institutional investors own 89.81% of the company’s stock.

Workday Stock Down 0.1%

Shares of NASDAQ:WDAY opened at $213.06 on Friday. The firm has a market cap of $56.89 billion, a PE ratio of 89.52, a price-to-earnings-growth ratio of 2.58 and a beta of 1.15. The company has a fifty day simple moving average of $232.10 and a 200 day simple moving average of $234.62. 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 has a 12-month low of $205.33 and a 12-month high of $294.00.

Workday (NASDAQ:WDAY – Get Free Report) last announced its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.15. The company had revenue of $2.43 billion during 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 firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the business earned $1.89 EPS. On average, equities research analysts anticipate that Workday will post 2.63 EPS for the current fiscal year.

Workday Company Profile

(Get Free Report)

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.

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