Brokerages Set Workday, Inc. (NASDAQ:WDAY) Price Target at $300.36

Workday, Inc. (NASDAQ:WDAY) has been given a consensus recommendation of “Moderate Buy” by the thirty-one ratings firms that are presently covering the company, Marketbeat reports. Nine research analysts have rated the stock with a hold recommendation, twenty have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $300.36.

Several research analysts have commented on the stock. Stifel Nicolaus raised their target price on shares of Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a report on Wednesday, February 26th. Oppenheimer raised their price objective on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Loop Capital lifted their price objective on shares of Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a research report on Wednesday, February 19th. JMP Securities restated a “market outperform” rating and issued a $315.00 target price on shares of Workday in a report on Thursday, February 6th. Finally, The Goldman Sachs Group lifted their price target on Workday from $310.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, February 26th.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $244.55 on Tuesday. The company has a market capitalization of $65.05 billion, a PE ratio of 40.56, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. 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 stock has a fifty day moving average of $256.89 and a 200-day moving average of $254.93. Workday has a one year low of $199.81 and a one year high of $294.00.

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

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 70,144 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $250.26, for a total transaction of $17,554,237.44. Following the transaction, the insider now owns 102,997 shares in the company, valued at $25,776,029.22. This trade represents a 40.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 487,145 shares of company stock worth $123,289,438. Corporate insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WDAY. Vanguard Group Inc. boosted its holdings in Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after acquiring an additional 4,517,272 shares during the period. Janus Henderson Group PLC increased its stake in shares of Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after purchasing an additional 480,459 shares during the period. State Street Corp lifted its position in shares of Workday by 1.4% during the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after purchasing an additional 67,380 shares during the last quarter. Geode Capital Management LLC boosted its stake in Workday by 61.9% during the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock valued at $1,193,105,000 after purchasing an additional 1,772,223 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Workday by 60.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker’s stock valued at $960,454,000 after buying an additional 1,406,088 shares during 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.