Workday (NASDAQ:WDAY) Price Target Raised to $260.00

Workday (NASDAQ:WDAY) had its price objective hoisted by analysts at Loop Capital from $242.00 to $260.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the software maker’s stock. Loop Capital’s price target would indicate a potential upside of 0.96% from the company’s current price.

A number of other brokerages have also recently commented on WDAY. StockNews.com cut Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Bank of America cut their target price on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Redburn Atlantic began coverage on Workday in a research report on Wednesday. They set a “neutral” rating on the stock. Citigroup cut their target price on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group boosted their price objective on Workday from $300.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $291.11.

Workday Trading Down 3.1 %

Shares of WDAY traded down $8.19 during mid-day trading on Wednesday, reaching $257.53. 986,650 shares of the company were exchanged, compared to its average volume of 2,032,749. The stock has a market capitalization of $68.50 billion, a PE ratio of 42.68, a PEG ratio of 3.51 and a beta of 1.35. The business has a 50 day simple moving average of $261.59 and a two-hundred day simple moving average of $252.41. 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 52 week low of $199.81 and a 52 week high of $311.28.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the company posted $0.47 earnings per share. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, analysts predict that Workday will post 2.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Sayan Chakraborty sold 5,498 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the transaction, the insider now directly owns 121,100 shares in the company, valued at approximately $30,369,458. This represents a 4.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction dated 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 sale, the insider now owns 60,000 shares of the company’s stock, valued at $14,785,200. This represents a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock worth $113,142,592 in the last ninety days. 20.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Roxbury Financial LLC purchased a new position in shares of Workday in the 4th quarter worth $25,000. Capital Performance Advisors LLP purchased a new position in shares of Workday in the 3rd quarter worth $26,000. Crews Bank & Trust purchased a new position in shares of Workday in the 4th quarter worth $26,000. Avion Wealth boosted its stake in shares of Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in shares of Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares during the last quarter. 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.