The Goldman Sachs Group Increases Workday (NASDAQ:WDAY) Price Target to $305.00

Workday (NASDAQ:WDAY) had its price target increased by The Goldman Sachs Group from $300.00 to $305.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 22.75% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. KeyCorp boosted their price objective on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Morgan Stanley decreased their price target on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. BMO Capital Markets restated an “outperform” rating and issued a $300.00 price target on shares of Workday in a report on Wednesday. Loop Capital lifted their price objective on Workday from $240.00 to $255.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus upped their target price on Workday from $250.00 to $270.00 and gave the company a “hold” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and a consensus target price of $286.48.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $248.47 on Thursday. Workday has a 52 week low of $199.81 and a 52 week high of $311.28. The company has a 50-day moving average price of $236.71 and a 200 day moving average price of $242.43. The company has a market cap of $65.84 billion, a P/E ratio of 44.77, a PEG ratio of 5.07 and a beta of 1.35. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping 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 analyst estimates of $2.07 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. Workday’s quarterly revenue was up 16.5% on a year-over-year basis. Research analysts predict that Workday will post 2.39 earnings per share for the current year.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 78,279 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $223.89, for a total value of $17,525,885.31. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at approximately $23,059,998.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder David A. Duffield sold 78,279 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $23,059,998.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $218.58, for a total value of $12,240,480.00. Following the sale, the insider now directly owns 730,000 shares in the company, valued at $159,563,400. The disclosure for this sale can be found here. Insiders have sold 466,402 shares of company stock valued at $107,992,034 over the last three months. 20.00% of the stock is owned by company insiders.

Institutional Trading of Workday

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in shares of Workday by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 199,304 shares of the software maker’s stock valued at $55,020,000 after purchasing an additional 3,231 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in Workday during the fourth quarter valued at approximately $521,000. PNC Financial Services Group Inc. grew its position in shares of Workday by 55.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 25,720 shares of the software maker’s stock worth $7,100,000 after acquiring an additional 9,126 shares in the last quarter. Coldstream Capital Management Inc. bought a new stake in shares of Workday in the 4th quarter valued at approximately $481,000. Finally, D.A. Davidson & CO. increased its stake in Workday by 3.5% during the fourth quarter. D.A. Davidson & CO. now owns 1,241 shares of the software maker’s stock valued at $343,000 after purchasing an additional 42 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

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.