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

Workday (NASDAQ:WDAY) had its target price upped by Morgan Stanley from $315.00 to $330.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the software maker’s stock.

A number of other equities research analysts also recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. BMO Capital Markets restated an “outperform” rating and issued a $300.00 price target on shares of Workday in a research note on Wednesday, September 18th. DA Davidson increased their price objective on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. JMP Securities restated a “market outperform” rating and set a $315.00 target price on shares of Workday in a research report on Thursday, September 19th. Finally, KeyCorp increased their price target on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $288.14.

Workday Trading Down 6.2 %

Shares of WDAY stock opened at $253.40 on Wednesday. The company has a market capitalization of $67.15 billion, a P/E ratio of 44.15, a price-to-earnings-growth ratio of 5.31 and a beta of 1.35. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $248.62 and its two-hundred day moving average is $237.33. Workday has a twelve month low of $199.81 and a twelve month high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the company posted $0.47 EPS. Workday’s revenue was up 15.8% compared to the same quarter last year. Equities analysts forecast that Workday will post 2.4 EPS for the current year.

Insider Transactions at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $255.45, for a total value of $1,915,875.00. Following the transaction, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $22,990,500. This trade represents a 7.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Wayne A.I. Frederick sold 1,828 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the sale, the director now directly owns 8,674 shares of the company’s stock, valued at approximately $2,097,806.90. This trade represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 359,954 shares of company stock worth $88,742,132 in the last three months. Company insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WDAY. Capital Performance Advisors LLP acquired a new stake in shares of Workday in the third quarter worth $26,000. Meeder Asset Management Inc. boosted its position in 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 during the period. True Wealth Design LLC increased its holdings in Workday by 4,766.7% in the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after purchasing an additional 143 shares in the last quarter. New Millennium Group LLC raised its position in Workday by 177.4% in the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock valued at $36,000 after purchasing an additional 94 shares during the period. Finally, SouthState Corp lifted its stake in shares of Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after purchasing an additional 129 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

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.