Workday (NASDAQ:WDAY) Price Target Raised to $260.00

Workday (NASDAQ:WDAY) had its price target upped by Loop Capital from $242.00 to $260.00 in a research report released on Wednesday morning,Benzinga reports. Loop Capital currently has a hold rating on the software maker’s stock.

A number of other analysts have also issued reports on the stock. Scotiabank initiated coverage on shares of Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price target for the company. Redburn Atlantic initiated coverage on shares of Workday in a research note on Wednesday. They issued a “neutral” rating for the company. Guggenheim upgraded shares of Workday from a “sell” rating to a “neutral” rating in a research note on Monday, January 6th. JMP Securities restated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research note on Thursday, February 6th. Finally, Wells Fargo & Company lifted their price target on shares of Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $291.11.

Workday Trading Down 2.0 %

WDAY opened at $256.39 on Wednesday. The firm has a market capitalization of $68.20 billion, a P/E ratio of 42.52, a P/E/G ratio of 3.56 and a beta of 1.35. The firm’s 50 day moving average is $260.75 and its 200-day moving average is $252.87. Workday has a 52-week low of $199.81 and a 52-week high of $311.28. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data 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 company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 earnings per share. Analysts expect that Workday will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 70,090 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total value of $17,840,007.70. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $26,215,826.41. This represents a 40.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the company’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 sale, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at $8,789,681.92. The trade was a 1.32 % decrease in their position. 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 90 days. 20.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Workday

Several institutional investors have recently bought and sold shares of WDAY. Roxbury Financial LLC acquired a new stake in Workday in the fourth quarter worth about $25,000. Capital Performance Advisors LLP bought a new stake in Workday in the third quarter worth about $26,000. Crews Bank & Trust bought a new stake in Workday in the fourth quarter worth about $26,000. Avion Wealth raised its position in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its position in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds 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.