Brokerages Set Workday, Inc. (NASDAQ:WDAY) Target Price at $293.61

Workday, Inc. (NASDAQ:WDAY) has been assigned an average recommendation of “Moderate Buy” from the twenty-eight research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and twenty-one have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $293.61.

WDAY has been the subject of a number of research reports. BMO Capital Markets upped their price target on shares of Workday from $290.00 to $338.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 13th. DA Davidson reaffirmed a “neutral” rating and issued a $300.00 price objective on shares of Workday in a research report on Tuesday, February 27th. Wells Fargo & Company boosted their target price on shares of Workday from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Stifel Nicolaus raised their price target on shares of Workday from $250.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, February 27th. Finally, KeyCorp lifted their price target on shares of Workday from $310.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 65,221 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $268.29, for a total transaction of $17,498,142.09. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $27,633,065.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Workday news, major shareholder David A. Duffield sold 65,221 shares of Workday stock in a transaction on Monday, April 8th. The stock was sold at an average price of $268.29, for a total transaction of $17,498,142.09. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $27,633,065.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 64,329 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $268.85, for a total value of $17,294,851.65. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $27,690,743.45. The disclosure for this sale can be found here. Insiders have sold a total of 379,691 shares of company stock valued at $102,897,729 in the last quarter. Company insiders own 21.09% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WDAY. Wealth Enhancement Advisory Services LLC increased its position in shares of Workday by 14.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,444 shares of the software maker’s stock valued at $1,212,000 after purchasing an additional 569 shares during the period. Procyon Advisors LLC boosted its stake in Workday by 2.8% during the first quarter. Procyon Advisors LLC now owns 7,284 shares of the software maker’s stock valued at $1,987,000 after buying an additional 196 shares in the last quarter. Sound Income Strategies LLC raised its position in Workday by 74.2% in the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after acquiring an additional 49 shares in the last quarter. Riverview Trust Co acquired a new stake in Workday in the 1st quarter valued at about $79,000. Finally, FCF Advisors LLC boosted its position in shares of Workday by 15.3% during the 1st quarter. FCF Advisors LLC now owns 4,425 shares of the software maker’s stock valued at $1,207,000 after purchasing an additional 588 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Trading Down 1.5 %

WDAY stock opened at $259.63 on Tuesday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. The company has a market cap of $68.54 billion, a price-to-earnings ratio of 50.41, a PEG ratio of 6.59 and a beta of 1.32. The business has a fifty day simple moving average of $281.47 and a 200-day simple moving average of $261.76. Workday has a 52 week low of $174.25 and a 52 week high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.47 by $0.10. Workday had a return on equity of 4.87% and a net margin of 19.02%. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the firm posted ($0.14) earnings per share. The firm’s revenue was up 16.8% on a year-over-year basis. On average, equities research analysts expect that Workday will post 1.76 EPS for the current year.

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.