Workday (NASDAQ:WDAY) Price Target Raised to $320.00 at Oppenheimer

Workday (NASDAQ:WDAY) had its price objective increased by Oppenheimer from $300.00 to $320.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the software maker’s stock.

WDAY has been the subject of several other reports. Morgan Stanley downgraded Workday from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $330.00 to $275.00 in a research note on Wednesday, February 19th. Mizuho upped their price objective on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Barclays decreased their target price on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Citigroup dropped their price target on shares of Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Loop Capital upped their price objective on shares of Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, February 19th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $301.11.

Workday Trading Up 6.2 %

Shares of Workday stock opened at $271.09 on Wednesday. The business has a fifty day simple moving average of $260.01 and a 200-day simple moving average of $254.24. The firm has a market cap of $72.11 billion, a price-to-earnings ratio of 44.96, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35. Workday has a fifty-two week low of $199.81 and a fifty-two week high of $298.50. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last posted its quarterly 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). The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. On average, equities analysts forecast that Workday will post 2.63 EPS for the current fiscal year.

Insider Activity

In other news, insider Sayan Chakraborty sold 5,498 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $250.78, for a total value of $1,378,788.44. Following the transaction, the insider now owns 121,100 shares of the company’s stock, valued at approximately $30,369,458. This trade represents a 4.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the sale, the insider now directly owns 60,000 shares of the company’s stock, valued at approximately $14,785,200. This trade represents a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 438,819 shares of company stock valued at $113,142,592. Company insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Institutional investors have recently bought and sold shares of the business. Bristol John W & Co. Inc. NY lifted its stake in shares of Workday by 23.0% in the 4th quarter. Bristol John W & Co. Inc. NY now owns 595,971 shares of the software maker’s stock valued at $153,778,000 after purchasing an additional 111,270 shares during the period. Virtue Capital Management LLC increased its holdings in Workday by 11.5% in the fourth quarter. Virtue Capital Management LLC now owns 2,747 shares of the software maker’s stock valued at $709,000 after purchasing an additional 284 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in Workday in the fourth quarter valued at about $88,000. Cypress Asset Management Inc. TX bought a new position in Workday during the fourth quarter worth about $1,187,000. Finally, Ascent Group LLC grew its position in shares of Workday by 2.3% during the 4th quarter. Ascent Group LLC now owns 3,448 shares of the software maker’s stock worth $890,000 after buying an additional 78 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

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.