Canaccord Genuity Group Raises Workday (NASDAQ:WDAY) Price Target to $330.00

Workday (NASDAQ:WDAY) had its price objective boosted by Canaccord Genuity Group from $300.00 to $330.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

Several other equities analysts also recently issued reports on WDAY. The Goldman Sachs Group upped their price objective on shares of Workday from $310.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley downgraded shares of Workday from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $330.00 to $275.00 in a research note on Wednesday, February 19th. Guggenheim reissued a “neutral” rating on shares of Workday in a research note on Wednesday. Piper Sandler upped their price objective on shares of Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, KeyCorp upped 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. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $301.11.

Workday Stock Up 6.2 %

WDAY stock opened at $271.09 on Wednesday. The company’s 50 day simple moving average is $260.01 and its 200-day simple moving average is $254.24. The firm has a market capitalization of $72.11 billion, a PE ratio of 44.96, a P/E/G ratio of 3.55 and a beta of 1.35. Workday has a 12 month low of $199.81 and a 12 month high of $298.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). The business had revenue of $2.21 billion during 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%. Equities analysts expect that Workday will post 2.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.86, for a total value of $1,586,625.00. Following the transaction, the chief executive officer now directly owns 13,972 shares in the company, valued at approximately $3,546,931.92. This trade represents a 30.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the transaction, the chief accounting officer now owns 35,408 shares in the company, valued at approximately $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. Insiders sold a total of 438,819 shares of company stock valued at $113,142,592 in the last ninety days. Corporate insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Roxbury Financial LLC bought a new position in shares of Workday in the 4th quarter worth about $25,000. Capital Performance Advisors LLP bought a new position in shares of Workday in the 3rd quarter worth about $26,000. Crews Bank & Trust bought a new stake in Workday in the 4th quarter valued at about $26,000. Avion Wealth lifted its position in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after purchasing an additional 86 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its position in Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares during 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.