Workday’s (WDAY) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Workday (NASDAQ:WDAY) in a research report released on Thursday morning, Benzinga reports. They currently have a $315.00 price target on the software maker’s stock.

WDAY has been the topic of a number of other research reports. UBS Group reduced their price target on Workday from $280.00 to $255.00 and set a neutral rating on the stock in a research report on Friday, May 24th. Robert W. Baird reduced their target price on Workday from $316.00 to $265.00 and set an outperform rating on the stock in a report on Friday, May 24th. KeyCorp upped their price objective on shares of Workday from $275.00 to $305.00 and gave the stock an overweight rating in a research report on Friday, August 23rd. Loop Capital raised their target price on shares of Workday from $240.00 to $255.00 and gave the company a hold rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus boosted their target price on shares of Workday from $250.00 to $270.00 and gave the company a hold rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, Workday presently has a consensus rating of Moderate Buy and a consensus target price of $286.48.

Workday Stock Performance

NASDAQ:WDAY opened at $248.29 on Thursday. The stock has a 50 day simple moving average of $237.48 and a 200 day simple moving average of $241.95. The stock has a market cap of $65.80 billion, a P/E ratio of 44.74, a PEG ratio of 5.07 and a beta of 1.35. Workday has a 1-year low of $199.81 and a 1-year high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the company earned $0.40 EPS. The business’s revenue was up 16.5% on a year-over-year basis. Research analysts anticipate that Workday will post 2.39 earnings per share for the current year.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $223.80, for a total value of $12,532,800.00. Following the completion of the sale, the insider now directly owns 674,000 shares in the company, valued at $150,841,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $223.80, for a total value of $12,532,800.00. Following the sale, the insider now directly owns 674,000 shares in the company, valued at $150,841,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total transaction of $14,112,630.00. Following the transaction, the insider now owns 505,000 shares of the company’s stock, valued at approximately $125,032,950. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 467,402 shares of company stock worth $109,864,184. Company insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

A number of large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its position in shares of Workday by 79.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after purchasing an additional 1,016,394 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Workday by 17,345.2% during the 2nd quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock worth $208,068,000 after buying an additional 925,366 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Workday by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock worth $3,988,549,000 after buying an additional 437,215 shares during the period. D1 Capital Partners L.P. increased its stake in shares of Workday by 152.1% in the 2nd quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock valued at $115,804,000 after acquiring an additional 312,500 shares in the last quarter. Finally, Kodai Capital Management LP acquired a new position in shares of Workday during the 4th quarter valued at $85,994,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.