Workday (NASDAQ:WDAY) Price Target Raised to $270.00

Workday (NASDAQ:WDAY) had its price objective raised by Loop Capital from $255.00 to $270.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a hold rating on the software maker’s stock.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company lifted their target price on shares of Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Bank of America lifted their target price on shares of Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley cut their target price on shares of Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. DA Davidson boosted their price objective on shares of Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Finally, JMP Securities reissued a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $287.59.

Workday Stock Performance

Shares of NASDAQ:WDAY traded down $10.66 during trading on Thursday, hitting $260.83. 722,167 shares of the company were exchanged, compared to its average volume of 2,097,711. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. Workday has a 52-week low of $199.81 and a 52-week high of $311.28. The company has a market cap of $69.12 billion, a PE ratio of 46.07, a P/E/G ratio of 5.49 and a beta of 1.35. The stock has a 50 day moving average of $246.64 and a 200 day moving average of $236.52.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the firm earned $0.40 earnings per share. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, equities research analysts predict that Workday will post 2.4 EPS for the current year.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the transaction, the insider now owns 102,997 shares in the company, valued at $26,902,816.40. This trade represents a 39.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the completion of the sale, the director now owns 97,500 shares in the company, valued at approximately $25,381,200. The trade was a 7.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 370,575 shares of company stock valued at $91,506,897. 20.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WDAY. Dorsey & Whitney Trust CO LLC increased its position in Workday by 4.4% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,031 shares of the software maker’s stock worth $281,000 after purchasing an additional 43 shares during the period. Meeder Asset Management Inc. lifted its stake in Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in shares of Workday by 0.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after purchasing an additional 43 shares in the last quarter. Diversified Trust Co raised its stake in shares of Workday by 1.0% during the 2nd quarter. Diversified Trust Co now owns 4,830 shares of the software maker’s stock worth $1,080,000 after purchasing an additional 47 shares in the last quarter. Finally, Opal Wealth Advisors LLC raised its stake in Workday by 5.2% in the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock valued at $231,000 after acquiring an additional 47 shares during the period. 89.81% of the stock is owned by institutional investors.

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.