Workday (NASDAQ:WDAY) Price Target Raised to $314.00 at BMO Capital Markets

Workday (NASDAQ:WDAY) had its target price increased by research analysts at BMO Capital Markets from $300.00 to $314.00 in a report issued on Thursday,Briefing.com Automated Import reports. The brokerage currently has an “outperform” rating on the software maker’s stock. BMO Capital Markets’ price objective indicates a potential upside of 15.83% from the company’s current price.

WDAY has been the topic of several other reports. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and lifted their price objective for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. Redburn Atlantic began coverage on Workday in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Citigroup cut their price target on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Stifel Nicolaus boosted their price target on shares of Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Piper Sandler increased their price objective on Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a research report 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $301.61.

Workday Trading Up 6.2 %

Shares of NASDAQ:WDAY opened at $271.09 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday has a 1 year low of $199.81 and a 1 year high of $298.50. The company has a market cap of $72.11 billion, a P/E ratio of 44.96, a PEG ratio of 3.55 and a beta of 1.35. The stock’s fifty day moving average price is $260.01 and its 200-day moving average price is $254.24.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Sell-side analysts expect that Workday will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $14,785,200. This represents a 48.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now owns 35,408 shares in the company, valued at $8,789,681.92. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 438,819 shares of company stock valued at $113,142,592. Insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WDAY. Bristlecone Advisors LLC lifted its stake in Workday by 49.6% in the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock valued at $754,000 after acquiring an additional 968 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in Workday by 7.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock valued at $7,934,000 after purchasing an additional 1,978 shares during the period. Grafton Street Partners Fund LP bought a new position in shares of Workday in the third quarter worth $4,424,000. ICICI Prudential Asset Management Co Ltd lifted its stake in Workday by 32.4% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after purchasing an additional 7,802 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Workday by 20.5% in the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after purchasing an additional 119,769 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.