Analysts Set Workday, Inc. (NASDAQ:WDAY) Target Price at $293.62

Workday, Inc. (NASDAQ:WDAY) has been given an average recommendation of “Moderate Buy” by the thirty-one analysts that are currently covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation, twenty-one have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $293.62.

Several research firms have commented on WDAY. Guggenheim restated a “neutral” rating on shares of Workday in a report on Wednesday, February 26th. Canaccord Genuity Group lifted their price target on Workday from $300.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. BNP Paribas upgraded Workday to a “strong-buy” rating in a report on Friday, February 14th. Loop Capital lifted their price target on Workday from $242.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, February 19th. Finally, KeyCorp lifted their price target on Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 66,455 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total value of $17,246,401.60. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,729,781.44. This represents a 39.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mark S. Garfield sold 497 shares of the company’s stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the completion of the transaction, the chief accounting officer now directly owns 34,385 shares in the company, valued at approximately $7,789,921.75. The trade was a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 321,724 shares of company stock worth $77,976,126 in the last 90 days. 19.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Workday

A number of institutional investors have recently made changes to their positions in the business. Focus Partners Wealth raised its position in shares of Workday by 6.6% in the 1st quarter. Focus Partners Wealth now owns 186,096 shares of the software maker’s stock valued at $43,459,000 after purchasing an additional 11,492 shares in the last quarter. Anchor Investment Management LLC raised its position in shares of Workday by 3.5% in the 1st quarter. Anchor Investment Management LLC now owns 7,255 shares of the software maker’s stock valued at $1,694,000 after purchasing an additional 245 shares in the last quarter. SCS Capital Management LLC acquired a new position in shares of Workday in the 1st quarter valued at approximately $2,756,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Workday by 2.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,245,249 shares of the software maker’s stock valued at $524,333,000 after purchasing an additional 54,079 shares in the last quarter. Finally, Zimmer Partners LP acquired a new position in shares of Workday in the 1st quarter valued at approximately $350,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Trading Up 0.2%

Workday stock opened at $273.84 on Wednesday. The stock has a market cap of $72.84 billion, a PE ratio of 45.41, a P/E/G ratio of 3.55 and a beta of 1.30. The stock has a 50-day moving average price of $241.93 and a 200 day moving average price of $253.91. Workday has a 52 week low of $199.81 and a 52 week high of $294.00. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

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 analysts’ expectations 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 fiscal year.

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.