Workday (NASDAQ:WDAY) Price Target Raised to $330.00

Workday (NASDAQ:WDAY) had its price target upped by Canaccord Genuity Group from $300.00 to $330.00 in a research report report published on Wednesday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the software maker’s stock.

Several other analysts also recently weighed in on the company. Mizuho lifted their target price on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Bank of America lowered their price target on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Wells Fargo & Company upped their price objective on shares of Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday. Redburn Atlantic began coverage on shares of Workday in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and upped their price target for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $302.14.

Workday Stock Up 1.1 %

Workday stock opened at $263.34 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday has a one year low of $199.81 and a one year high of $296.44. The company has a 50-day simple moving average of $259.69 and a 200-day simple moving average of $254.65. The firm has a market capitalization of $70.05 billion, a P/E ratio of 43.67, a P/E/G ratio of 3.55 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted 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 firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. As a group, equities analysts expect that Workday will post 2.63 earnings per share for the current year.

Insider Activity at Workday

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction dated 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 70,003 shares of the firm’s 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 sale, the insider now owns 102,997 shares of the company’s stock, valued at $25,872,846.40. The trade was a 40.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 433,321 shares of company stock worth $111,763,803. 20.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in WDAY. Roxbury Financial LLC purchased a new position in shares of Workday during the 4th quarter valued at $25,000. Capital Performance Advisors LLP acquired a new stake in Workday during the third quarter valued at $26,000. Crews Bank & Trust purchased a new position in Workday in the fourth quarter valued at about $26,000. Avion Wealth increased its position in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its stake in shares of Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares in the last quarter. 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.