BMO Capital Markets Boosts Workday (NASDAQ:WDAY) Price Target to $314.00

Workday (NASDAQ:WDAY) had its price target boosted by research analysts at BMO Capital Markets from $300.00 to $314.00 in a research report issued on Thursday, MarketBeat reports. The firm presently has an “outperform” rating on the software maker’s stock. BMO Capital Markets’ target price points to a potential upside of 19.24% from the company’s previous close.

WDAY has been the subject of a number of other reports. The Goldman Sachs Group raised their target price on Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company increased their price target on Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday. Barclays lowered their price target on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Loop Capital increased their price target on Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and increased their price target for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and a consensus price target of $302.14.

Workday Stock Up 1.1 %

Shares of WDAY opened at $263.34 on Thursday. Workday has a 52-week low of $199.81 and a 52-week high of $296.44. The company has a market capitalization of $70.05 billion, a PE ratio of 43.67, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35. The stock has a fifty day simple moving average of $259.69 and a two-hundred day simple moving average of $254.65. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. As a group, equities analysts forecast that Workday will post 2.63 EPS for the current year.

Insider Activity

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the sale, the chief executive officer now owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. This trade represents a 30.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction dated 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 directly owns 35,408 shares in the company, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 433,321 shares of company stock worth $111,763,803. 20.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Workday

Hedge funds and other institutional investors have recently made changes to their positions in the business. Roxbury Financial LLC acquired a new position in Workday during the fourth quarter worth approximately $25,000. Capital Performance Advisors LLP acquired a new position in Workday during the third quarter worth approximately $26,000. Crews Bank & Trust acquired a new position in Workday during the fourth quarter worth approximately $26,000. Avion Wealth increased its position in Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares during the period. Finally, Meeder Asset Management Inc. increased its position in 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 buying an additional 43 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

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.