Workday (NASDAQ:WDAY) Given New $320.00 Price Target at Mizuho

Workday (NASDAQ:WDAY) had its price target upped by equities research analysts at Mizuho from $280.00 to $320.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Mizuho’s price objective would suggest a potential upside of 16.44% from the stock’s current price.

A number of other equities analysts also recently issued reports on WDAY. Scotiabank assumed coverage on Workday in a research report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price target on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price target on shares of Workday in a report on Thursday, September 19th. Wells Fargo & Company upped their price target on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Monday. StockNews.com lowered shares of Workday from a “buy” rating to a “hold” rating in a report on Wednesday, December 4th. Finally, Barclays lowered their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and a consensus price target of $290.64.

Workday Price Performance

NASDAQ:WDAY opened at $274.82 on Friday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The business’s 50-day simple moving average is $253.11 and its two-hundred day simple moving average is $238.37. The stock has a market cap of $72.83 billion, a PE ratio of 45.58, a P/E/G ratio of 5.02 and a beta of 1.34. Workday has a 52 week low of $199.81 and a 52 week high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business posted $0.47 earnings per share. The firm’s revenue was up 15.8% on a year-over-year basis. As a group, analysts forecast that Workday will post 2.58 EPS for the current fiscal year.

Insider Transactions at Workday

In related news, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the transaction, the director now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $245.36, for a total transaction of $13,740,160.00. Following the transaction, the insider now directly owns 449,000 shares of the company’s stock, valued at $110,166,640. The trade was a 11.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 361,463 shares of company stock worth $88,422,088 in the last 90 days. Insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WDAY. Capital Performance Advisors LLP purchased a new position in Workday in the 3rd quarter valued at approximately $26,000. SouthState Corp lifted its position in shares of Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after purchasing an additional 129 shares during the last quarter. Crewe Advisors LLC lifted its position in shares of Workday by 56.6% during the 2nd quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock worth $35,000 after purchasing an additional 56 shares during the last quarter. Goodman Advisory Group LLC purchased a new stake in shares of Workday during the 2nd quarter worth $35,000. Finally, Meeder Asset Management Inc. lifted its position in shares of 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 last quarter. Hedge funds and other institutional investors 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.