Stifel Nicolaus Boosts Workday (NASDAQ:WDAY) Price Target to $310.00

Workday (NASDAQ:WDAY) had its price target boosted by investment analysts at Stifel Nicolaus from $270.00 to $310.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the software maker’s stock. Stifel Nicolaus’ target price suggests a potential upside of 12.54% from the stock’s previous close.

Other analysts also recently issued research reports about the company. JMP Securities restated a “market outperform” rating and set a $315.00 target price on shares of Workday in a research note on Thursday, February 6th. Redburn Atlantic began coverage on Workday in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Bank of America cut their price objective on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Oppenheimer boosted their target price on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Guggenheim raised shares of Workday from a “sell” rating to a “neutral” rating in a report on Monday, January 6th. Ten equities 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $296.11.

Workday Stock Up 7.9 %

Shares of Workday stock opened at $275.46 on Wednesday. Workday has a 12-month low of $199.81 and a 12-month high of $304.79. The stock has a market capitalization of $73.27 billion, a P/E ratio of 45.68, a PEG ratio of 3.55 and a beta of 1.35. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average price of $259.97 and a two-hundred day moving average price of $254.12.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data 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). The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Equities analysts expect that Workday will post 2.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 13,972 shares of the company’s stock, valued at $3,546,931.92. This represents a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 70,003 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $25,872,846.40. This represents a 40.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock worth $113,142,592 over the last ninety days. 20.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after purchasing an additional 4,517,272 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after purchasing an additional 480,459 shares during the period. State Street Corp boosted its holdings in shares of Workday by 1.4% during the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after buying an additional 67,380 shares during the period. Geode Capital Management LLC raised its holdings in Workday by 61.9% in the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock valued at $1,193,105,000 after acquiring an additional 1,772,223 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Workday by 60.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker’s stock worth $960,454,000 after buying an additional 1,406,088 shares during the period. 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.