Workday (NASDAQ:WDAY) Coverage Initiated by Analysts at Redburn Atlantic

Investment analysts at Redburn Atlantic assumed coverage on shares of Workday (NASDAQ:WDAY) in a research report issued on Wednesday,Briefing.com Automated Import reports. The brokerage set a “neutral” rating on the software maker’s stock.

WDAY has been the topic of a number of other reports. BNP Paribas raised Workday to a “strong-buy” rating in a report on Friday, February 14th. Piper Sandler reiterated a “neutral” rating and issued a $270.00 price target (down previously from $285.00) on shares of Workday in a report on Wednesday, November 27th. Morgan Stanley cut shares of Workday from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $330.00 to $275.00 in a research note on Wednesday. StockNews.com lowered shares of Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company raised their target price on shares of Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $290.46.

Workday Stock Performance

NASDAQ:WDAY traded down $8.84 during trading hours on Wednesday, hitting $256.88. 817,630 shares of the company were exchanged, compared to its average volume of 2,027,121. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday has a 52-week low of $199.81 and a 52-week high of $311.28. The stock has a market capitalization of $68.33 billion, a price-to-earnings ratio of 42.68, a PEG ratio of 3.51 and a beta of 1.35. The company’s 50 day moving average price is $261.59 and its 200-day moving average price is $252.41.

Workday (NASDAQ:WDAY) last announced 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. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the company earned $0.47 earnings per share. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, research analysts forecast that Workday will post 2.63 earnings per share for the current year.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the completion of the sale, the insider now owns 60,000 shares of the company’s stock, valued at $14,785,200. This represents a 48.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock valued at $113,142,592 over the last quarter. 20.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Workday

A number of large investors have recently made changes to their positions in the stock. Roxbury Financial LLC acquired a new position in Workday during the fourth quarter worth $25,000. Capital Performance Advisors LLP purchased a new position in shares of Workday during the 3rd quarter worth $26,000. Crews Bank & Trust acquired a new position in shares of Workday during the 4th quarter valued at about $26,000. Avion Wealth grew its holdings in shares of Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after purchasing an additional 86 shares during the period. Finally, Meeder Asset Management Inc. increased its position in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

About Workday

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.