Workday (NASDAQ:WDAY) Price Target Raised to $360.00 at Wells Fargo & Company

Workday (NASDAQ:WDAY) had its price objective boosted by Wells Fargo & Company from $330.00 to $360.00 in a report issued on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the software maker’s stock.

Several other equities research analysts have also recently weighed in on WDAY. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research report on Thursday, February 6th. BNP Paribas raised shares of Workday to a “strong-buy” rating in a report on Friday, February 14th. KeyCorp lifted their price objective on shares of Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group upped their target price on Workday from $300.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Citigroup decreased their price target on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Ten 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 company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $301.11.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $271.09 on Wednesday. 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 has a 12-month low of $199.81 and a 12-month high of $298.50. The company’s 50 day moving average price is $260.01 and its two-hundred day moving average price is $254.24. The firm has a market cap of $72.11 billion, a PE ratio of 44.96, a PEG ratio of 3.55 and a beta of 1.35.

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

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 60,000 shares in the company, valued at $14,785,200. The trade was a 48.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sayan Chakraborty sold 5,498 shares of Workday 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 of the company’s stock, valued at approximately $30,369,458. This trade represents a 4.34 % decrease in their ownership of the stock. 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. 20.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Workday

Institutional investors and hedge funds have recently modified their holdings of the business. Bristlecone Advisors LLC lifted its position in shares of Workday by 49.6% during 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 during the period. Sanctuary Advisors LLC raised its holdings in shares of Workday by 7.2% during the third 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 during the 3rd quarter worth about $4,424,000. ICICI Prudential Asset Management Co Ltd grew its stake in shares of Workday by 32.4% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after buying an additional 7,802 shares during the period. Finally, Nordea Investment Management AB increased its position in 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 buying an additional 119,769 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

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.