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

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

WDAY has been the subject of several other reports. KeyCorp increased their target price on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Bank of America increased their target price on Workday from $265.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Needham & Company LLC dropped their target price on Workday from $350.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Canaccord Genuity Group restated a “buy” rating and set a $300.00 target price on shares of Workday in a report on Friday, September 13th. Finally, Stifel Nicolaus increased 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 equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $287.59.

Workday Price Performance

WDAY opened at $259.41 on Thursday. The stock has a 50-day moving average price of $246.74 and a 200-day moving average price of $236.60. Workday has a 12-month low of $199.81 and a 12-month high of $311.28. 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 P/E ratio of 45.19, a PEG ratio of 5.39 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the business earned $0.40 EPS. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. Equities analysts predict that Workday will post 2.4 earnings per share for the current fiscal year.

Insider Transactions at Workday

In related news, insider Richard Harry Sauer sold 3,134 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the sale, the insider now owns 85,795 shares in the company, valued at $20,228,745.10. This represents a 3.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at $26,902,816.40. The trade was a 39.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 370,575 shares of company stock valued at $91,506,897. Corporate insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. ORG Partners LLC boosted its stake in Workday by 3,717.9% during the 2nd quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after purchasing an additional 3,123 shares during the last quarter. Grafton Street Partners Fund LP purchased a new stake in Workday during the 3rd quarter valued at $4,424,000. ICICI Prudential Asset Management Co Ltd boosted its stake in Workday by 32.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after purchasing an additional 7,802 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Workday by 42.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 13,380 shares of the software maker’s stock valued at $3,649,000 after purchasing an additional 3,965 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Workday by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after purchasing an additional 324,540 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

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.