Workday (NASDAQ:WDAY) Price Target Raised to $310.00

Workday (NASDAQ:WDAY) had its price target lifted by Stifel Nicolaus from $270.00 to $310.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the software maker’s stock.

Other analysts also recently issued reports about the stock. Needham & Company LLC reissued a “buy” rating and set a $300.00 target price on shares of Workday in a research note on Wednesday. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. KeyCorp boosted their target price on shares of Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a research note on Wednesday. Redburn Atlantic began coverage on shares of Workday in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Finally, Wells Fargo & Company upped their price target on shares of Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and a consensus target price of $302.14.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $263.34 on Wednesday. Workday has a one year low of $199.81 and a one year high of $296.44. The stock has a fifty day moving average of $259.69 and a 200-day moving average of $254.65. The company has a market capitalization of $70.05 billion, a PE ratio of 43.67, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35. 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 (NASDAQ:WDAY) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) 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 firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. As a group, equities analysts anticipate that Workday will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the completion of the sale, the insider now directly owns 60,000 shares in the company, valued at $14,785,200. This represents a 48.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wayne A.I. Frederick sold 1,829 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the sale, the director now owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. The trade was a 21.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 433,321 shares of company stock worth $111,763,803 over the last ninety days. Company insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

Several hedge funds have recently made changes to their positions in WDAY. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Workday by 28.4% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 1,479 shares of the software maker’s stock valued at $361,000 after buying an additional 327 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Workday by 1,265.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 44,081 shares of the software maker’s stock worth $10,774,000 after purchasing an additional 40,853 shares during the period. Pallas Capital Advisors LLC lifted its stake in Workday by 20.8% during the third quarter. Pallas Capital Advisors LLC now owns 4,560 shares of the software maker’s stock worth $1,080,000 after purchasing an additional 786 shares during the period. abrdn plc lifted its stake in Workday by 16.3% during the third quarter. abrdn plc now owns 279,856 shares of the software maker’s stock worth $68,400,000 after purchasing an additional 39,289 shares during the period. Finally, Fortitude Family Office LLC lifted its stake in Workday by 713.6% during the third quarter. Fortitude Family Office LLC now owns 179 shares of the software maker’s stock worth $44,000 after purchasing an additional 157 shares during the period. 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.