Workday’s (WDAY) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Workday (NASDAQ:WDAY) in a research report released on Monday morning,Benzinga reports. Needham & Company LLC currently has a $300.00 target price on the software maker’s stock.

WDAY has been the topic of several other reports. Stifel Nicolaus raised their price objective on Workday from $250.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Wells Fargo & Company boosted their price target on shares of Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $285.00 price objective on shares of Workday in a research report on Wednesday, September 18th. DA Davidson lifted their target price on shares of Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Finally, Evercore ISI reduced their target price on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued 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 $288.14.

Workday Trading Down 6.2 %

WDAY opened at $253.40 on Monday. Workday has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The firm has a market capitalization of $67.15 billion, a PE ratio of 42.02, a P/E/G ratio of 5.36 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The company’s 50-day moving average is $248.74 and its 200 day moving average is $237.44.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.21% and a net margin of 19.86%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the business posted $0.47 earnings per share. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, research analysts predict that Workday will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $26,902,816.40. The trade was a 39.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the completion of the transaction, the insider now owns 85,795 shares of the company’s stock, valued at approximately $20,228,745.10. This represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 359,954 shares of company stock valued at $88,742,132. Company insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

A number of hedge funds and other institutional investors have recently bought and sold shares of WDAY. Janus Henderson Group PLC increased its stake in Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after acquiring an additional 480,459 shares during the last quarter. State Street Corp grew its holdings in shares of Workday by 1.4% during the third 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Workday by 2.7% in 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 during the last quarter. The Manufacturers Life Insurance Company raised its stake 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Workday by 4.0% in the third 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 valued at $482,133,000 after purchasing an additional 75,747 shares in the last quarter. 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.