Workday (NASDAQ:WDAY) Price Target Raised to $285.00

Workday (NASDAQ:WDAY) had its price objective increased by equities researchers at UBS Group from $255.00 to $285.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. UBS Group’s price objective would indicate a potential upside of 5.00% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Scotiabank began coverage on Workday in a research report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price on the stock. Morgan Stanley downgraded Workday from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $330.00 to $275.00 in a research report on Wednesday, February 19th. Citigroup cut their price objective on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. 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. Finally, Wells Fargo & Company upped their price objective on Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday. Ten investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $301.11.

Workday Trading Up 6.4 %

NASDAQ WDAY traded up $16.22 during trading hours on Wednesday, hitting $271.44. 4,120,952 shares of the company’s stock were exchanged, compared to its average volume of 2,265,066. The firm has a market cap of $72.20 billion, a price-to-earnings ratio of 45.17, a PEG ratio of 3.55 and a beta of 1.35. The stock has a 50-day simple moving average of $259.97 and a 200 day simple moving average of $254.12. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday has a 1-year low of $199.81 and a 1-year high of $304.79.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, equities analysts forecast that Workday will post 2.63 EPS for the current fiscal year.

Insider Activity at Workday

In other news, CAO Mark S. Garfield sold 472 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Duffield sold 57,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the transaction, the insider now directly owns 284,000 shares in the company, valued at $78,188,040. This trade represents a 16.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 438,819 shares of company stock valued at $113,142,592. Corporate insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Institutional investors have recently made changes to their positions in the business. Roxbury Financial LLC purchased a new position in shares of Workday in the 4th quarter valued at approximately $25,000. Capital Performance Advisors LLP acquired a new stake in Workday during the 3rd quarter valued at approximately $26,000. Crews Bank & Trust acquired a new position in Workday during the fourth quarter valued at $26,000. Avion Wealth lifted its holdings in shares of Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after buying an additional 86 shares during the period. Finally, Meeder Asset Management Inc. raised its position in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring 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.