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

Workday (NASDAQ:WDAY) had its price target lifted by research analysts at Loop Capital from $255.00 to $270.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the software maker’s stock. Loop Capital’s target price indicates a potential upside of 4.08% from the company’s current price.

A number of other brokerages have also weighed in on WDAY. JMP Securities reissued a “market outperform” rating and issued a $315.00 price target on shares of Workday in a report on Thursday, September 19th. Stifel Nicolaus lifted their target price on Workday from $250.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. DA Davidson upped their price target on Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. The Goldman Sachs Group lifted their price objective on Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Wells Fargo & Company upped their target price on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $287.59.

Workday Price Performance

Shares of Workday stock opened at $259.41 on Thursday. Workday has a 1-year low of $199.81 and a 1-year high of $311.28. The firm’s 50-day moving average price is $246.64 and its two-hundred day moving average price is $236.52. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $68.74 billion, a price-to-earnings ratio of 45.19, a P/E/G ratio of 5.39 and a beta of 1.35.

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

Insider Activity

In other news, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $260.32, for a total value of $1,952,400.00. Following the completion of the sale, the director now directly owns 97,500 shares of the company’s stock, valued at $25,381,200. This trade represents a 7.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $242.01, for a total value of $13,552,560.00. Following the transaction, the insider now directly owns 281,000 shares in the company, valued at $68,004,810. The trade was a 16.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 370,575 shares of company stock valued at $91,506,897 in the last quarter. Company insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

Several large investors have recently modified their holdings of WDAY. Bleakley Financial Group LLC lifted its position in Workday by 2.5% during the first quarter. Bleakley Financial Group LLC now owns 3,335 shares of the software maker’s stock worth $910,000 after acquiring an additional 80 shares during the last quarter. Koshinski Asset Management Inc. acquired a new stake in Workday during the 1st quarter worth approximately $269,000. Kingsview Wealth Management LLC boosted its stake in Workday by 52.3% in the 1st quarter. Kingsview Wealth Management LLC now owns 4,963 shares of the software maker’s stock valued at $1,354,000 after purchasing an additional 1,705 shares during the period. HBK Sorce Advisory LLC acquired a new position in Workday in the 1st quarter valued at $220,000. Finally, Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Workday by 4.4% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,031 shares of the software maker’s stock worth $281,000 after buying an additional 43 shares in the last quarter. 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.