Loop Capital Issues Positive Forecast for Workday (NASDAQ:WDAY) Stock Price

Workday (NASDAQ:WDAY) had its price objective increased by Loop Capital from $242.00 to $260.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the software maker’s stock. Loop Capital’s target price suggests a potential upside of 0.96% from the stock’s current price.

WDAY has been the topic of several other research reports. The Goldman Sachs Group increased their target price on Workday from $300.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Guggenheim upgraded shares of Workday from a “sell” rating to a “neutral” rating in a research note on Monday, January 6th. Wells Fargo & Company upped their price objective on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, JMP Securities restated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a research note on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $291.11.

Workday Trading Down 3.1 %

WDAY traded down $8.19 on Wednesday, hitting $257.53. The company had a trading volume of 986,650 shares, compared to its average volume of 2,032,749. Workday has a 12-month low of $199.81 and a 12-month high of $311.28. The business’s fifty day simple moving average is $261.59 and its 200 day simple moving average is $252.41. The company has a market cap of $68.50 billion, a PE ratio of 42.68, a PEG ratio of 3.51 and a beta of 1.35. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the firm posted $0.47 earnings per share. Workday’s revenue for the quarter was up 15.8% compared to the same quarter last year. Equities research analysts expect that Workday will post 2.63 EPS for the current year.

Insider Activity

In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the transaction, the insider now owns 60,000 shares in the company, valued at $14,785,200. This trade represents a 48.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sayan Chakraborty sold 5,498 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the transaction, the insider now owns 121,100 shares of the company’s stock, valued at $30,369,458. This trade represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 438,819 shares of company stock valued at $113,142,592. Company insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

Institutional investors have recently bought and sold shares of the business. Roxbury Financial LLC acquired a new stake in Workday during the 4th quarter worth about $25,000. Capital Performance Advisors LLP purchased a new stake in shares of Workday during the 3rd quarter worth about $26,000. Crews Bank & Trust purchased a new stake in shares of Workday during the 4th quarter worth about $26,000. Avion Wealth raised its stake in shares of Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its stake in shares of Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.