Workday (NASDAQ:WDAY) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Workday (NASDAQ:WDAY) had its price objective increased by Stifel Nicolaus from $270.00 to $310.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a hold rating on the software maker’s stock.

Several other equities research analysts have also recently weighed in on the company. Guggenheim upgraded Workday from a “sell” rating to a “neutral” rating in a report on Monday, January 6th. Wells Fargo & Company increased their price objective on Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and lifted their target price for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. BNP Paribas raised shares of Workday to a “strong-buy” rating in a research report on Friday, February 14th. Finally, Loop Capital lifted their price objective on Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a research report on Wednesday, February 19th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $301.11.

Workday Trading Up 6.2 %

Shares of WDAY opened at $271.09 on Wednesday. Workday has a fifty-two week low of $199.81 and a fifty-two week high of $298.50. The firm 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 firm has a 50 day moving average price of $260.01 and a 200-day moving average price of $254.24. 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 quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. As a group, equities research analysts forecast that Workday will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In other Workday news, CAO Mark S. Garfield sold 472 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $1,586,625.00. Following the completion of the sale, the chief executive officer now owns 13,972 shares in the company, valued at $3,546,931.92. This represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, 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 large investors have recently modified their holdings of WDAY. Vanguard Group Inc. grew its holdings in Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares during the last quarter. Janus Henderson Group PLC grew its stake in Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after buying an additional 480,459 shares during the last quarter. State Street Corp increased its position in Workday by 1.4% during the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after buying an additional 67,380 shares in the last quarter. Geode Capital Management LLC raised its stake in Workday by 61.9% in the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock valued at $1,193,105,000 after buying an additional 1,772,223 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Workday by 60.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker’s stock worth $960,454,000 after acquiring an additional 1,406,088 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

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.