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

Workday (NASDAQ:WDAY) had its price target boosted by analysts at BMO Capital Markets from $300.00 to $314.00 in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm currently 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 stock’s previous close.

Several other brokerages also recently weighed in on WDAY. Citigroup lowered their target price on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. JPMorgan Chase & Co. lifted their price target on Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday. Bank of America decreased their price target on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Royal Bank of Canada lifted their price target on Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Guggenheim restated a “neutral” rating on shares of Workday 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 given a strong buy rating to the stock. According to MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and an average target price of $302.14.

Workday Trading Up 1.1 %

Shares of WDAY stock opened at $263.34 on Thursday. The business’s 50 day moving average is $259.69 and its two-hundred day moving average is $254.65. Workday has a twelve month low of $199.81 and a twelve month high of $296.44. The company has a market capitalization of $70.05 billion, a P/E ratio of 43.67, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last announced 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). Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Equities analysts forecast that Workday will post 2.63 EPS for the current year.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 70,090 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $26,215,826.41. This represents a 40.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the 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 transaction, the chief accounting officer now owns 35,408 shares in the company, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 433,321 shares of company stock valued at $111,763,803 over the last three months. 20.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Workday

Several large investors have recently added to or reduced their stakes in WDAY. Vanguard Group Inc. lifted its position in Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after buying an additional 4,517,272 shares during the period. T. Rowe Price Investment Management Inc. purchased a new position in Workday during the fourth quarter worth about $658,735,000. Norges Bank purchased a new position in Workday during the fourth quarter worth about $645,710,000. Parnassus Investments LLC lifted its position in Workday by 562.2% during the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after buying an additional 2,078,097 shares during the period. Finally, Geode Capital Management LLC lifted its position in Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock worth $1,193,105,000 after buying an additional 1,772,223 shares during the period. 89.81% of the stock is currently owned by hedge funds and other 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.