Workday (NASDAQ:WDAY) Price Target Raised to $345.00

Workday (NASDAQ:WDAY) had its price objective increased by The Goldman Sachs Group from $310.00 to $345.00 in a research report report published on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the software maker’s stock.

A number of other analysts also recently weighed in on the company. Bank of America dropped their target price on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. JPMorgan Chase & Co. lifted their price target on shares of Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday. Piper Sandler upped their price objective on shares of Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday. Stifel Nicolaus lifted their target price on shares of Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Mizuho boosted their price target on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $302.14.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $263.34 on Wednesday. The company’s fifty day moving average price is $259.69 and its 200-day moving average price is $254.65. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a market capitalization of $70.05 billion, a price-to-earnings ratio of 43.67, a PEG ratio of 3.55 and a beta of 1.35. Workday has a one year low of $199.81 and a one year high of $296.44.

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

Insider Buying and Selling

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the sale, the chief executive officer now directly owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 70,003 shares of Workday stock in a transaction dated 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 completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $25,872,846.40. This represents a 40.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 433,321 shares of company stock worth $111,763,803 in the last three months. 20.00% of the stock is owned by corporate insiders.

Institutional Trading of Workday

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Simplicity Wealth LLC raised its holdings in Workday by 3.0% in the 4th quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock worth $330,000 after acquiring an additional 37 shares during the last quarter. Marcum Wealth LLC raised its stake in shares of Workday by 4.4% in the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock worth $249,000 after purchasing an additional 41 shares during the last quarter. Custom Index Systems LLC raised its stake in shares of Workday by 3.0% in the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after purchasing an additional 41 shares during the last quarter. AllSquare Wealth Management LLC lifted its holdings in shares of Workday by 19.4% during the fourth quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock valued at $65,000 after purchasing an additional 41 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted 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 valued at $35,000 after buying an additional 43 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

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.