Workday (NASDAQ:WDAY) Price Target Raised to $314.00

Workday (NASDAQ:WDAY) had its price objective hoisted by BMO Capital Markets from $300.00 to $314.00 in a report published on Thursday morning, MarketBeat reports. They currently have an outperform rating on the software maker’s stock.

A number of other analysts have also recently issued reports on WDAY. Mizuho lifted their target price on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Oppenheimer lifted their target price on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday. The Goldman Sachs Group lifted their target price on shares of Workday from $310.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Wells Fargo & Company lifted their target price on shares of Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $302.14.

Workday Trading Up 1.1 %

Shares of NASDAQ:WDAY opened at $263.34 on Thursday. The company has a market cap of $70.05 billion, a PE ratio of 43.67, a P/E/G ratio of 3.55 and a beta of 1.35. The company’s 50-day moving average price is $259.69 and its 200 day moving average price is $254.92. Workday has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. 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 released its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Sell-side analysts anticipate that Workday will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In related news, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 70,003 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $251.20, for a total transaction 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 $25,872,846.40. This represents a 40.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 433,321 shares of company stock valued at $111,763,803 in the last ninety days. 20.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Workday

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Park Square Financial Group LLC bought a new position in shares of Workday in the fourth quarter valued at $117,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Workday during the 4th quarter valued at $117,259,000. Azzad Asset Management Inc. ADV lifted its holdings in Workday by 0.8% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 9,187 shares of the software maker’s stock valued at $2,371,000 after purchasing an additional 71 shares during the last quarter. Jefferies Financial Group Inc. lifted its holdings in Workday by 8.1% during the 4th quarter. Jefferies Financial Group Inc. now owns 10,326 shares of the software maker’s stock valued at $2,664,000 after purchasing an additional 770 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. lifted its holdings in Workday by 16.7% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 1,499 shares of the software maker’s stock valued at $387,000 after purchasing an additional 215 shares during the last quarter. 89.81% of the stock is 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.