Workday (NASDAQ:WDAY) PT Raised to $270.00

Workday (NASDAQ:WDAY) had its price objective upped by analysts at JMP Securities from $260.00 to $270.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “market outperform” rating on the software maker’s stock. JMP Securities’ price objective indicates a potential upside of 16.55% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. Wells Fargo & Company lifted their target price on Workday from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, August 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $275.00 target price on shares of Workday in a report on Thursday, September 28th. KeyCorp lifted their target price on Workday from $290.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, August 25th. Jefferies Financial Group lifted their target price on Workday from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Tuesday, August 15th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $255.00 target price on shares of Workday in a report on Thursday, September 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.58.

Workday Price Performance

NASDAQ:WDAY opened at $231.66 on Thursday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.47. The business’s 50-day simple moving average is $222.45 and its two-hundred day simple moving average is $221.62. The stock has a market cap of $60.69 billion, a PE ratio of -482.63, a P/E/G ratio of 7.65 and a beta of 1.25. Workday has a 52 week low of $141.22 and a 52 week high of $252.72.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, August 24th. The software maker reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.17. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.77 billion. Workday had a positive return on equity of 2.09% and a negative net margin of 1.81%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.16) earnings per share. As a group, analysts forecast that Workday will post 1.13 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Sayan Chakraborty sold 3,944 shares of the company’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $205.41, for a total value of $810,137.04. Following the completion of the transaction, the insider now owns 129,473 shares of the company’s stock, valued at approximately $26,595,048.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Workday news, insider Sayan Chakraborty sold 3,944 shares of the stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $205.41, for a total transaction of $810,137.04. Following the completion of the transaction, the insider now owns 129,473 shares of the company’s stock, valued at $26,595,048.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 108,333 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $250.58, for a total value of $27,146,083.14. Following the transaction, the insider now directly owns 108,333 shares of the company’s stock, valued at approximately $27,146,083.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 131,714 shares of company stock valued at $32,193,350. 21.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Workday

Hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Workday in the fourth quarter valued at approximately $600,504,000. JPMorgan Chase & Co. increased its holdings in shares of Workday by 59.3% in the first quarter. JPMorgan Chase & Co. now owns 5,951,816 shares of the software maker’s stock valued at $1,229,289,000 after purchasing an additional 2,216,683 shares during the last quarter. GQG Partners LLC acquired a new stake in shares of Workday in the first quarter valued at approximately $310,767,000. Artisan Partners Limited Partnership acquired a new stake in shares of Workday in the second quarter valued at approximately $259,080,000. Finally, Winslow Capital Management LLC increased its holdings in shares of Workday by 76.4% in the third quarter. Winslow Capital Management LLC now owns 2,310,619 shares of the software maker’s stock valued at $496,436,000 after purchasing an additional 1,000,922 shares during the last quarter. Institutional investors and hedge funds own 68.46% 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, and to manage their business and operations. The company offers a suite of financial management applications, which enable chief financial officers 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.