UBS Group Issues Positive Forecast for Workday (NASDAQ:WDAY) Stock Price

Workday (NASDAQ:WDAY) had its price target raised by UBS Group from $255.00 to $285.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the software maker’s stock.

WDAY has been the subject of several other research reports. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. The Goldman Sachs Group increased their target price on Workday from $310.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday. Stifel Nicolaus lifted their price target on Workday from $270.00 to $310.00 and gave the company a “hold” rating in a report on Wednesday. BNP Paribas raised Workday to a “strong-buy” rating in a research note on Friday, February 14th. Finally, Morgan Stanley lowered Workday from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $330.00 to $275.00 in a research report on Wednesday, February 19th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and a consensus target price of $301.11.

Workday Stock Performance

Shares of WDAY opened at $271.09 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The firm’s 50 day moving average is $260.01 and its 200-day moving average is $254.24. Workday has a 12-month low of $199.81 and a 12-month high of $298.50. The stock has a market capitalization of $72.11 billion, a P/E ratio of 44.96, a P/E/G ratio of 3.55 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Equities research analysts anticipate that Workday will post 2.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Sayan Chakraborty sold 5,498 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the transaction, the insider now owns 121,100 shares of the company’s stock, valued at approximately $30,369,458. The trade was a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the completion of the sale, the insider now directly owns 284,000 shares of the company’s stock, valued at approximately $78,188,040. This trade represents a 16.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock valued at $113,142,592 in the last quarter. Insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Simplicity Wealth LLC grew its position in Workday by 3.0% during the fourth quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock worth $330,000 after buying an additional 37 shares in the last quarter. Marcum Wealth LLC grew its holdings in shares of Workday by 4.4% during the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock worth $249,000 after purchasing an additional 41 shares in the last quarter. Custom Index Systems LLC increased its position in shares of Workday by 3.0% during the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock valued at $364,000 after purchasing an additional 41 shares during the period. AllSquare Wealth Management LLC raised its stake in shares of Workday by 19.4% in the fourth quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock valued at $65,000 after purchasing an additional 41 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted 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 purchasing an additional 43 shares during the period. 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.