Workday (NASDAQ:WDAY) Price Target Raised to $320.00 at Mizuho

Workday (NASDAQ:WDAY) had its price target lifted by investment analysts at Mizuho from $280.00 to $320.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Mizuho’s price target would indicate a potential upside of 16.93% from the stock’s current price.

Other equities analysts have also issued research reports about the company. JMP Securities reissued a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research note on Thursday, September 19th. Oppenheimer reissued an “outperform” rating and set a $300.00 price target on shares of Workday in a research report on Tuesday, December 3rd. Bank of America cut their price objective on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Citigroup decreased their target price on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $300.00 target price on shares of Workday in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $290.64.

Workday Price Performance

NASDAQ:WDAY opened at $273.67 on Friday. The stock has a 50 day moving average of $253.74 and a two-hundred day moving average of $238.90. Workday has a 12 month low of $199.81 and a 12 month high of $311.28. 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 $72.80 billion, a P/E ratio of 45.38, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Workday’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 EPS. On average, analysts expect that Workday will post 2.58 earnings per share for the current fiscal year.

Insider Transactions at Workday

In other Workday news, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the completion of the transaction, the director now directly owns 8,674 shares of the company’s stock, valued at approximately $2,097,806.90. This trade represents a 17.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total value of $14,112,630.00. Following the sale, the insider now directly owns 505,000 shares in the company, valued at $125,032,950. This trade represents a 10.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 361,463 shares of company stock worth $88,422,088 over the last ninety days. 20.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC boosted its position in shares of Workday by 10.7% in 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 in the last quarter. State Street Corp increased its stake in shares of Workday by 1.4% during the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after purchasing an additional 67,380 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Workday by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after purchasing an additional 76,618 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Workday by 0.6% in the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after acquiring an additional 14,159 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Workday by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock worth $482,133,000 after purchasing an additional 75,747 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

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.