Wells Fargo & Company Issues Positive Forecast for Workday (NASDAQ:WDAY) Stock Price

Workday (NASDAQ:WDAY) had its price target raised by Wells Fargo & Company from $300.00 to $330.00 in a report issued on Monday morning,Benzinga reports. The firm currently has an overweight rating on the software maker’s stock.

WDAY has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Morgan Stanley boosted their price objective on shares of Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Bank of America lowered their target price on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Barclays cut their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Finally, Stifel Nicolaus upped their price target on shares of Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $289.21.

Workday Price Performance

Shares of WDAY opened at $279.91 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The firm has a market capitalization of $74.18 billion, a PE ratio of 46.42, a P/E/G ratio of 4.91 and a beta of 1.34. The stock has a 50 day simple moving average of $251.13 and a 200 day simple moving average of $237.53. Workday has a 52-week low of $199.81 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter last year, the business posted $0.47 EPS. Sell-side analysts predict that Workday will post 2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Wayne A.I. Frederick sold 1,828 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $241.85, for a total value of $442,101.80. Following the completion of the sale, the director now directly owns 8,674 shares of the company’s stock, valued at $2,097,806.90. The trade was a 17.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder David A. Duffield sold 70,003 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total value of $17,584,753.60. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $25,872,846.40. This trade represents a 40.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 361,463 shares of company stock worth $88,422,088. Corporate insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

Several hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. increased its position in shares of Workday by 42.2% during 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. Kingsview Wealth Management LLC increased its holdings in Workday by 0.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after purchasing an additional 43 shares in the last quarter. Diversified Trust Co increased its holdings in Workday by 1.0% during the 2nd quarter. Diversified Trust Co now owns 4,830 shares of the software maker’s stock worth $1,080,000 after purchasing an additional 47 shares in the last quarter. Opal Wealth Advisors LLC raised its stake in shares of Workday by 5.2% in the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after purchasing an additional 47 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. lifted its holdings in shares of Workday by 3.4% in the second quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock valued at $324,000 after purchasing an additional 48 shares in the last quarter. 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.