Workday (NASDAQ:WDAY) Given New $310.00 Price Target at Stifel Nicolaus

Workday (NASDAQ:WDAY) had its price target raised by Stifel Nicolaus from $270.00 to $310.00 in a research report sent to investors on Wednesday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the software maker’s stock.

Several other equities research analysts also recently issued reports on the company. Guggenheim upgraded Workday from a “sell” rating to a “neutral” rating in a report on Monday, January 6th. Oppenheimer upped their target price on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday. Bank of America dropped their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and upped their price objective for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada lifted their target price on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and an average target price of $301.11.

Workday Stock Performance

WDAY opened at $271.09 on Wednesday. Workday has a 1-year low of $199.81 and a 1-year high of $298.50. The company has a market cap of $72.11 billion, a price-to-earnings ratio of 44.96, a PEG ratio of 3.55 and a beta of 1.35. The company’s fifty day moving average price is $260.01 and its two-hundred day moving average price is $254.24. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

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

Insider Transactions at Workday

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the sale, the chief executive officer now owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the transaction, the director now directly owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. The trade was a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Workday

Institutional investors have recently added to or reduced their stakes in the business. Roxbury Financial LLC bought a new stake in shares of Workday during the 4th quarter valued at about $25,000. Capital Performance Advisors LLP bought a new stake in Workday during the third quarter valued at approximately $26,000. Crews Bank & Trust bought a new stake in Workday during the fourth quarter valued at approximately $26,000. Avion Wealth grew its stake in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in shares of Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares during the last quarter. 89.81% of the stock is currently owned by 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.