Workday (NASDAQ:WDAY) Given New $270.00 Price Target at Loop Capital

Workday (NASDAQ:WDAY) had its target price increased by Loop Capital from $255.00 to $270.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a hold rating on the software maker’s stock.

Other research analysts have also issued reports about the stock. Barclays increased their price objective on shares of Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Wells Fargo & Company raised their price target on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Bank of America raised their price target on shares of Workday from $265.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Canaccord Genuity Group restated a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Friday, September 13th. Finally, JMP Securities restated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $287.59.

Workday Price Performance

Shares of NASDAQ WDAY opened at $259.41 on Thursday. The stock has a market cap of $68.74 billion, a price-to-earnings ratio of 45.19, a PEG ratio of 5.15 and a beta of 1.35. Workday has a 52 week low of $199.81 and a 52 week high of $311.28. The company’s 50-day moving average price is $246.74 and its 200 day moving average price is $236.48. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.10. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period last year, the company earned $0.40 EPS. As a group, research analysts forecast that Workday will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $260.29, for a total transaction of $812,365.09. Following the transaction, the insider now owns 196,344 shares of the company’s stock, valued at $51,106,379.76. The trade was a 1.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $26,902,816.40. This trade represents a 39.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 370,575 shares of company stock valued at $91,506,897. 20.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Workday

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Workday by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after purchasing an additional 324,540 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Workday by 10.7% during the third 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 lifted its holdings in shares of Workday by 1.4% during the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after buying an additional 67,380 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Workday by 2.7% during the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after buying an additional 76,618 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of Workday by 12.4% during the first quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock worth $693,382,000 after buying an additional 281,207 shares during the last quarter. 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.