Workday (NASDAQ:WDAY) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Workday (NASDAQ:WDAY – Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other brokerages have also recently issued reports on WDAY. KeyCorp upped their price target on shares of Workday from $158.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, August 28th. Jefferies Financial Group set a $220.00 price objective on shares of Workday in a research note on Friday, August 28th. Piper Sandler increased their price objective on Workday from $145.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, August 28th. Weiss Ratings upgraded Workday from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 13th. Finally, Guggenheim reaffirmed a “buy” rating and set a $275.00 target price on shares of Workday in a research report on Friday, August 21st. Twenty analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Workday presently has a consensus rating of “Hold” and a consensus price target of $206.34.

Get Our Latest Research Report on WDAY

Workday Stock Performance

NASDAQ:WDAY opened at $195.79 on Friday. The stock’s 50-day moving average is $167.46 and its 200-day moving average is $142.97. Workday has a 1-year low of $110.36 and a 1-year high of $249.85. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31. The stock has a market cap of $47.19 billion, a P/E ratio of 39.71, a price-to-earnings-growth ratio of 1.98 and a beta of 1.08.

Workday (NASDAQ:WDAY – Get Free Report) last issued its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $0.14. Workday had a net margin of 12.32% and a return on equity of 20.95%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter last year, the business earned $2.21 EPS. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. Equities research analysts anticipate that Workday will post 5.3 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Gerrit S. Kazmaier sold 2,728 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.62, for a total value of $391,795.36. Following the transaction, the insider owned 266,388 shares in the company, valued at $38,258,644.56. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total transaction of $862,200.00. Following the sale, the chief financial officer directly owned 288,460 shares in the company, valued at $41,451,702. This trade represents a 2.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 754,981 shares of company stock worth $101,916,181. Corporate insiders own 18.64% of the company’s stock.

Institutional Trading of Workday

A number of large investors have recently bought and sold shares of WDAY. Rakuten Securities Inc. bought a new stake in shares of Workday during the 2nd quarter valued at about $25,000. Measured Wealth Private Client Group LLC bought a new stake in Workday in the third quarter worth approximately $26,000. JPL Wealth Management LLC acquired a new position in Workday in the third quarter valued at approximately $30,000. DT Investment Partners LLC acquired a new position in Workday in the fourth quarter valued at approximately $27,000. Finally, LRI Investments LLC acquired a new position in Workday in the fourth quarter valued at approximately $29,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

About Workday

(Get Free Report)

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.

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