Workday (NASDAQ:WDAY - Get Free Report) had its price target upped by analysts at Royal Bank of Canada from $300.00 to $320.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the software maker's stock. Royal Bank of Canada's price objective points to a potential upside of 15.07% from the stock's previous close.
Other equities research analysts have also issued reports about the stock. BMO Capital Markets reaffirmed an "outperform" rating and set a $300.00 price objective on shares of Workday in a report on Wednesday, September 18th. DA Davidson raised their target price on shares of Workday from $255.00 to $270.00 and gave the company a "neutral" rating in a research note on Friday, August 23rd. StockNews.com cut shares of Workday from a "buy" rating to a "hold" rating in a research note on Wednesday, December 4th. The Goldman Sachs Group lifted their target price on Workday from $300.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Finally, KeyCorp upped their target price on shares of Workday from $275.00 to $305.00 and gave the company an "overweight" rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $291.36.
Read Our Latest Stock Report on WDAY
NASDAQ WDAY traded up $0.09 on Wednesday, hitting $278.10. 400,432 shares of the company traded hands, compared to its average volume of 2,247,462. The business's 50 day moving average price is $255.37 and its 200-day moving average price is $240.06. Workday has a 52-week low of $199.81 and a 52-week high of $311.28. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $73.97 billion, a price-to-earnings ratio of 46.12, a P/E/G ratio of 5.04 and a beta of 1.34.
Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business's quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 EPS. Equities analysts expect that Workday will post 2.58 earnings per share for the current year.
In related news, Director Wayne A.I. Frederick sold 1,828 shares of the company's stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the transaction, the director now directly owns 8,674 shares of the company's stock, valued at $2,097,806.90. This represents a 17.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Sayan Chakraborty sold 5,498 shares of the firm's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the sale, the insider now directly owns 121,100 shares of the company's stock, valued at approximately $30,369,458. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 304,463 shares of company stock valued at $74,309,458 in the last 90 days. Insiders own 20.00% of the company's stock.
Large investors have recently made changes to their positions in the stock. Janus Henderson Group PLC grew its position in Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker's stock valued at $1,218,415,000 after buying an additional 480,459 shares during the period. State Street Corp raised its holdings in Workday by 1.4% in the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker's stock worth $1,183,611,000 after purchasing an additional 67,380 shares during the period. Geode Capital Management LLC boosted its position in Workday by 2.7% during the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker's stock worth $698,285,000 after purchasing an additional 76,618 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Workday by 0.6% in the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker's stock valued at $566,094,000 after purchasing an additional 14,159 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Workday by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker's stock worth $482,133,000 after buying an additional 75,747 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Workday, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Workday wasn't on the list.
While Workday currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.