Workday (NASDAQ:WDAY) Price Target Raised to $335.00

Workday (NASDAQ:WDAY) had its price target increased by equities research analysts at KeyCorp from $305.00 to $335.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the software maker’s stock. KeyCorp’s price objective points to a potential upside of 20.84% from the stock’s previous close.

A number of other equities analysts have also issued reports on WDAY. Mizuho raised their price target on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Needham & Company LLC reissued a “buy” rating and set a $300.00 target price on shares of Workday in a report on Wednesday. The Goldman Sachs Group boosted their price target on Workday from $300.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Citigroup reduced their price objective on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Loop Capital boosted their price target on shares of Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday, February 19th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $293.61.

Workday Stock Up 8.6 %

NASDAQ:WDAY opened at $277.22 on Wednesday. The company’s 50 day moving average is $259.97 and its two-hundred day moving average is $254.12. The company has a market cap of $73.74 billion, a PE ratio of 45.97, a P/E/G ratio of 3.55 and a beta of 1.35. Workday has a twelve month low of $199.81 and a twelve month high of $304.79. 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 released its earnings results 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). Workday had a net margin of 19.86% and a return on equity of 6.13%. Analysts anticipate that Workday will post 2.63 EPS for the current year.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $246.42, for a total value of $13,799,520.00. Following the sale, the insider now owns 60,000 shares in the company, valued at $14,785,200. This represents a 48.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the sale, the chief accounting officer now owns 35,408 shares in the company, valued at approximately $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 438,819 shares of company stock valued at $113,142,592. Corporate insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Hedge funds and other institutional investors have recently bought and sold shares of the company. Roxbury Financial LLC purchased a new position in Workday during the fourth quarter worth approximately $25,000. Capital Performance Advisors LLP purchased a new stake in Workday during the third quarter valued at about $26,000. Crews Bank & Trust acquired a new stake in Workday during the fourth quarter worth about $26,000. Avion Wealth grew its stake in shares of Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other 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.