Oppenheimer Issues Positive Forecast for Workday (NASDAQ:WDAY) Stock Price

Workday (NASDAQ:WDAY) had its price objective upped by Oppenheimer from $300.00 to $320.00 in a report published on Wednesday,Benzinga reports. They currently have an outperform rating on the software maker’s stock.

Several other equities research analysts also recently commented on WDAY. Wells Fargo & Company upped their target price on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Citigroup lowered their target price on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Royal Bank of Canada upped 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, December 18th. BNP Paribas raised shares of Workday to a “strong-buy” rating in a research note on Friday, February 14th. Finally, Guggenheim raised shares of Workday from a “sell” rating to a “neutral” rating in a research note on Monday, January 6th. Ten 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 stock. According to MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and a consensus target price of $302.14.

Workday Trading Up 1.1 %

WDAY opened at $263.34 on Wednesday. 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 company has a market cap of $70.05 billion, a price-to-earnings ratio of 43.67, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35. The firm has a 50 day simple moving average of $259.69 and a 200 day simple moving average of $254.65. Workday has a fifty-two week low of $199.81 and a fifty-two week high of $296.44.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The business had revenue of $2.21 billion for 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%. On average, sell-side analysts anticipate that Workday will post 2.63 earnings per share for the current year.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the sale, the insider now owns 60,000 shares in the company, valued at $14,785,200. This trade represents a 48.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mark S. Garfield sold 472 shares of the stock in a transaction on Monday, January 13th. The shares were 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 approximately $8,789,681.92. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 433,321 shares of company stock worth $111,763,803. 20.00% of the stock is owned by insiders.

Institutional Trading of Workday

Large investors have recently added to or reduced their stakes in the company. Roxbury Financial LLC bought a new position in shares of Workday in the fourth quarter valued at about $25,000. Capital Performance Advisors LLP bought a new position in shares of Workday in the third quarter valued at about $26,000. Crews Bank & Trust bought a new position in shares of Workday in the fourth quarter valued at about $26,000. Avion Wealth raised its position in shares of Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after purchasing an additional 86 shares during the period. Finally, Meeder Asset Management Inc. raised its position in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

About Workday

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.