Workday (NASDAQ:WDAY) Receives “Outperform” Rating from Oppenheimer

Workday (NASDAQ:WDAY)‘s stock had its “outperform” rating reissued by equities researchers at Oppenheimer in a research report issued on Tuesday,Benzinga reports. They presently have a $300.00 price objective on the software maker’s stock. Oppenheimer’s target price would indicate a potential upside of 17.68% from the company’s previous close.

WDAY has been the subject of several other research reports. DA Davidson upped their price target 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. Wells Fargo & Company raised their target price on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Bank of America dropped their price target on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Morgan Stanley raised their price objective on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Finally, Stifel Nicolaus upped their target price on shares of Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. One equities 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 company’s stock. According to data from MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus price target of $288.14.

Workday Price Performance

NASDAQ WDAY traded up $3.47 during trading hours on Tuesday, reaching $254.93. The company’s stock had a trading volume of 341,154 shares, compared to its average volume of 2,153,986. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. Workday has a 1-year low of $199.81 and a 1-year high of $311.28. The company’s 50-day moving average is $248.77 and its two-hundred day moving average is $237.30. The firm has a market capitalization of $67.56 billion, a price-to-earnings ratio of 41.63, a P/E/G ratio of 4.96 and a beta of 1.34.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) 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 analyst estimates of $2.13 billion. Workday had a return on equity of 6.21% and a net margin of 19.86%. The business’s revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 EPS. On average, equities analysts predict that Workday will post 2.4 EPS for the current year.

Insider Transactions at Workday

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $255.45, for a total value of $1,915,875.00. Following the transaction, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $22,990,500. The trade was a 7.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Wayne A.I. Frederick sold 1,828 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $241.85, for a total value of $442,101.80. Following the transaction, the director now owns 8,674 shares in the company, valued at $2,097,806.90. The trade was a 17.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 293,462 shares of company stock worth $71,374,421. Company insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

Several institutional investors have recently made changes to their positions in WDAY. ORG Partners LLC increased its stake in Workday by 3,717.9% in the 2nd quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after purchasing an additional 3,123 shares in the last quarter. Grafton Street Partners Fund LP purchased a new position in shares of Workday in the third quarter valued at $4,424,000. ICICI Prudential Asset Management Co Ltd raised its stake in shares of Workday by 32.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after buying an additional 7,802 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Workday by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after buying an additional 118,180 shares during the last quarter. Finally, Atria Investments Inc boosted its position in shares of Workday by 19.3% in the 3rd quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock worth $10,833,000 after buying an additional 7,175 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

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.