Workday, Inc. (NASDAQ:WDAY) Receives $293.62 Consensus Price Target from Analysts

Shares of Workday, Inc. (NASDAQ:WDAY) have been given a consensus rating of “Moderate Buy” by the thirty-one ratings firms that are presently covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $293.62.

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group upped their price target on Workday from $310.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Loop Capital upped their price target on Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday, February 19th. BMO Capital Markets upped their price target on Workday from $300.00 to $314.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. DA Davidson dropped their target price on Workday from $270.00 to $230.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Finally, Stifel Nicolaus increased their target price on Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th.

Insider Activity

In related news, CAO Mark S. Garfield sold 497 shares of the firm’s stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $226.55, for a total transaction of $112,595.35. Following the completion of the transaction, the chief accounting officer now owns 34,385 shares of the company’s stock, valued at $7,789,921.75. This trade represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sayan Chakraborty sold 6,056 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $265.50, for a total value of $1,607,868.00. Following the transaction, the insider now directly owns 111,324 shares of the company’s stock, valued at $29,556,522. This represents a 5.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 321,724 shares of company stock valued at $77,976,126. Company insiders own 19.31% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WDAY. Vanguard Group Inc. boosted its stake in Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after buying an additional 4,517,272 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in Workday during the fourth quarter valued at about $658,735,000. Norges Bank bought a new position in Workday during the fourth quarter valued at about $645,710,000. Parnassus Investments LLC boosted its stake in Workday by 562.2% during the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock valued at $631,589,000 after buying an additional 2,078,097 shares in the last quarter. Finally, Nuveen LLC bought a new position in Workday during the first quarter valued at about $456,341,000. Institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

WDAY stock opened at $273.84 on Wednesday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market cap of $72.84 billion, a P/E ratio of 45.41, a P/E/G ratio of 3.55 and a beta of 1.30. Workday has a 12-month low of $199.81 and a 12-month high of $294.00. The stock’s 50 day simple moving average is $241.93 and its 200 day simple moving average is $253.91.

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

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.