Workday, Inc. (NASDAQ:WDAY) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Workday, Inc. (NASDAQ:WDAY - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twenty-seven research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $281.44.

• The 2 Most Downgraded Stocks: Sell One, Buy the Other

Several equities research analysts have recently issued reports on WDAY shares. Canaccord Genuity Group reduced their target price on Workday from $305.00 to $270.00 and set a "buy" rating on the stock in a report on Friday, May 24th. Citigroup reduced their price objective on Workday from $293.00 to $255.00 and set a "neutral" rating on the stock in a research note on Friday, May 24th. Robert W. Baird reduced their price objective on Workday from $316.00 to $265.00 and set an "outperform" rating on the stock in a research note on Friday, May 24th. JMP Securities reissued a "market outperform" rating and set a $315.00 price objective on shares of Workday in a research note on Friday, May 24th. Finally, Jefferies Financial Group reduced their price objective on Workday from $350.00 to $330.00 and set a "buy" rating on the stock in a research note on Friday, May 24th.

Get Our Latest Research Report on Workday

Workday Price Performance

• Top 3 Analyst-Downgraded Stocks: Tesla, Workday, Starbucks

Shares of Workday stock opened at $211.95 on Monday. The stock's 50-day simple moving average is $220.05 and its 200-day simple moving average is $252.02. Workday has a 52 week low of $199.81 and a 52 week high of $311.28. The company has a market capitalization of $56.17 billion, a price-to-earnings ratio of 38.19, a PEG ratio of 5.32 and a beta of 1.35. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY - Get Free Report) last issued its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.20. Workday had a return on equity of 5.78% and a net margin of 19.66%. The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same period in the previous year, the firm posted $0.16 earnings per share. The business's revenue was up 18.1% compared to the same quarter last year. As a group, analysts expect that Workday will post 2.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

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In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $214.44, for a total transaction of $669,267.24. Following the sale, the insider now owns 204,066 shares of the company's stock, valued at approximately $43,759,913.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $214.44, for a total transaction of $669,267.24. Following the sale, the insider now owns 204,066 shares of the company's stock, valued at approximately $43,759,913.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 82,762 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $210.28, for a total value of $17,403,193.36. Following the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $21,658,209.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 524,672 shares of company stock valued at $115,938,834. 20.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Workday

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Crewe Advisors LLC acquired a new stake in shares of Workday in the 1st quarter worth $27,000. Sound Income Strategies LLC boosted its position in shares of Workday by 74.2% in the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker's stock worth $31,000 after purchasing an additional 49 shares in the last quarter. SouthState Corp boosted its position in shares of Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker's stock worth $34,000 after purchasing an additional 129 shares in the last quarter. Asset Dedication LLC acquired a new stake in shares of Workday in the 2nd quarter worth $36,000. Finally, PSI Advisors LLC acquired a new stake in shares of Workday in the 2nd quarter worth $38,000. Institutional investors own 89.81% of the company's stock.

Workday Company Profile

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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