Workday (NASDAQ:WDAY) Price Target Raised to $335.00

Workday (NASDAQ:WDAY) had its price target lifted by KeyCorp from $305.00 to $335.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the software maker’s stock.

A number of other brokerages have also recently issued reports on WDAY. Royal Bank of Canada upped their price objective on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Guggenheim upgraded Workday from a “sell” rating to a “neutral” rating in a research note on Monday, January 6th. Redburn Atlantic began coverage on Workday in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. JMP Securities restated a “market outperform” rating and issued a $315.00 target price on shares of Workday in a report on Thursday, February 6th. Finally, Piper Sandler increased their price target on Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus price target of $301.11.

Workday Trading Up 6.2 %

Shares of NASDAQ WDAY opened at $271.09 on Wednesday. The business has a 50 day simple moving average of $260.01 and a 200 day simple moving average of $254.24. Workday has a 52 week low of $199.81 and a 52 week high of $298.50. The stock has a market cap of $72.11 billion, a price-to-earnings ratio of 44.96, a PEG ratio of 3.55 and a beta of 1.35. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

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

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 70,003 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at $25,872,846.40. This trade represents a 40.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the sale, the chief accounting officer now directly owns 35,408 shares in the company, valued at $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 438,819 shares of company stock valued at $113,142,592. Company insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WDAY. Roxbury Financial LLC bought a new stake in shares of Workday in the 4th quarter worth about $25,000. Capital Performance Advisors LLP acquired a new position in Workday in the third quarter valued at about $26,000. Crews Bank & Trust acquired a new position in Workday in the fourth quarter valued at about $26,000. Avion Wealth grew its stake in Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.