Workday (NASDAQ:WDAY) Price Target Raised to $260.00 at Loop Capital

Workday (NASDAQ:WDAY) had its target price upped by Loop Capital from $242.00 to $260.00 in a research note released on Wednesday,Benzinga reports. Loop Capital currently has a hold rating on the software maker’s stock.

WDAY has been the subject of several other reports. Scotiabank initiated coverage on Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price target for the company. StockNews.com cut Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and raised their price target for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. Redburn Atlantic assumed coverage on Workday in a report on Wednesday. They set a “neutral” rating for the company. Finally, BNP Paribas raised Workday to a “strong-buy” rating in a report on Friday, February 14th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and a consensus target price of $291.11.

Workday Trading Down 1.7 %

NASDAQ:WDAY opened at $261.10 on Wednesday. The stock’s 50 day moving average price is $261.36 and its 200 day moving average price is $252.47. The company has a market capitalization of $69.45 billion, a PE ratio of 43.30, a P/E/G ratio of 3.51 and a beta of 1.35. 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 has a 52-week low of $199.81 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the business posted $0.47 EPS. The company’s revenue was up 15.8% on a year-over-year basis. On average, research analysts anticipate that Workday will post 2.63 EPS for the current year.

Insider Activity at Workday

In related news, Director Wayne A.I. Frederick sold 1,829 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the sale, the director now directly owns 6,845 shares in the company, valued at $1,732,401.05. This represents a 21.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sayan Chakraborty sold 5,498 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the sale, the insider now owns 121,100 shares of the company’s stock, valued at approximately $30,369,458. This represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock worth $113,142,592 in the last ninety days. 20.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Workday

Several institutional investors and hedge funds have recently made changes to their positions in WDAY. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Workday by 73.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 289 shares of the software maker’s stock valued at $71,000 after buying an additional 122 shares during the period. Raleigh Capital Management Inc. increased its stake in shares of Workday by 5.4% in the third quarter. Raleigh Capital Management Inc. now owns 1,228 shares of the software maker’s stock valued at $300,000 after buying an additional 63 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Workday by 13.0% in the third quarter. Sequoia Financial Advisors LLC now owns 2,561 shares of the software maker’s stock valued at $626,000 after buying an additional 295 shares during the period. Signaturefd LLC increased its stake in shares of Workday by 9.7% in the third quarter. Signaturefd LLC now owns 3,460 shares of the software maker’s stock valued at $846,000 after buying an additional 307 shares during the period. Finally, Lecap Asset Management Ltd. increased its stake in shares of Workday by 84.4% in the third quarter. Lecap Asset Management Ltd. now owns 18,334 shares of the software maker’s stock valued at $4,481,000 after buying an additional 8,391 shares during the period. Institutional investors and hedge funds 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.