Workday, Inc. (NASDAQ:WDAY) Receives Consensus “Buy” Recommendation From Analysts

Shares of Workday, Inc. (NASDAQ:WDAY) have been assigned a consensus “Buy” rating by the thirty brokerages that currently cover the stock, Marketbeat reports. Two research analysts gave the stock a hold rating and twenty-six gave the company a buy rating. The average 1-year price target among analysts who have covered the stock over the past year is $332.15.

A number of equity research analysts have recently released reports on the stock. BMO Capital Markets raised its price target on Workday shares from $295.00 to $355.00 and gave the stock a “market performance” rating in a Thursday, November 18 report. They noted that the move was a review call. KeyCorp raised its price target on Workday shares from $315.00 to $345.00 and gave the company an “overweight” rating in a Friday, November 19 report. Morgan Stanley raised its price target on Workday shares from $310.00 to $340.00 and gave the company an “overweight” rating in a Monday, November 15 report. Goldman Sachs Group raised its price target on Workday shares from $340.00 to $345.00 and gave the company a “buy” rating in a report on Friday, November 19. Finally, Bank of America raised its price target on Workday shares from $310.00 to $360.00 and gave the company a “buy” rating in a Monday, Nov. 15, report.

Shares of Workday were down $6.08 during Friday trading hours, hitting $245.69. 1,952,359 shares of the company were traded, against an average volume of 2,346,458. Workday has a 1-year low of $217.60 and a 1-year high of $307.81. The company has a market capitalization of $61.42 billion, a P/E ratio of 2,730.19, a price-to-earnings growth ratio of 26.87 and a beta of 1.35. The company has a fifty-day moving average of $270.62 and a two-hundred-day moving average of $262.38. The company has a quick ratio of 1.10, a current ratio of 1.10 and a leverage ratio of 0.15.

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Workday Inc (NASDAQ:WDAY) last reported results on Thursday, November 18. The software maker reported earnings per share (EPS) of $1.10 for the quarter, beating the Zacks consensus estimate of $0.86 by $0.24. Workday achieved a net margin of 0.63% and a return on equity of 3.26%. The company posted revenue of $1.33 billion in the quarter, compared to analysts’ estimates of $1.32 billion. In the same quarter of the previous year, the company had earned earnings per share of $0.86. The company’s revenue for the quarter increased by 20.0% compared to the same quarter last year. As a group, research analysts expect Workday to post EPS of 0.45 for the current year.

In related news, CEO Aneel Bhusri sold 3,578 shares of the company in a trade that took place on Tuesday, January 18. The shares were sold at an average price of $247.95, for a total value of $887,165.10. The sale was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Additionally, director David A. Duffield sold 280,777 shares of the company in a transaction that took place on Wednesday, December 1. The shares were sold at an average price of $267.15, for a total transaction of $75,009,575.55. The disclosure of this sale can be found here. Insiders have sold 729,652 shares of the company worth $190,285,531 in the past three months. Company insiders own 24.06% of the company’s shares.

Large investors have recently changed their stock holdings. Arlington Partners LLC bought a new position in Workday in the fourth quarter worth about $28,000. Consolidated Planning Corp bought a new position in Workday in the third quarter worth about $27,000. Dark Forest Capital Management LP bought a new position in Workday in the third quarter worth about $28,000. PSI Advisors LLC bought a new position in Workday in the third quarter worth about $37,000. Finally, Assetmark Inc. increased its stake in Workday by 315.0% in the third quarter. Assetmark Inc. now owns 166 shares of the software maker valued at $41,000 after buying an additional 126 shares in the last quarter. 68.74% of the shares are currently held by hedge funds and other institutional investors.

Workday Company Profile

Workday, Inc engages in the development of enterprise cloud applications for finance and human resources. It provides financial management, human capital management, and analytics applications designed for businesses, educational institutions, and government agencies. The company was founded by David A.

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Analyst Recommendations for Workday (NASDAQ: WDAY)

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