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

Workday (NASDAQ:WDAY) had its price objective lifted by BMO Capital Markets from $300.00 to $314.00 in a research note published on Thursday morning, MarketBeat.com reports. BMO Capital Markets currently has an outperform rating on the software maker’s stock.

Other equities research analysts also recently issued reports about the company. Loop Capital boosted their price target on Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, February 19th. Royal Bank of Canada increased their target price on shares of Workday from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday. Stifel Nicolaus increased their target price on shares of Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a report on Wednesday. KeyCorp increased their target price on shares of Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Redburn Atlantic assumed coverage on shares of Workday in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus price target of $302.14.

Workday Stock Performance

Shares of Workday stock opened at $260.57 on Thursday. 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 capitalization of $69.31 billion, a P/E ratio of 43.21, a P/E/G ratio of 3.55 and a beta of 1.35. The business has a fifty day simple moving average of $259.89 and a two-hundred day simple moving average of $254.28. Workday has a 12 month low of $199.81 and a 12 month high of $298.50.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. On average, equities analysts forecast that Workday will post 2.63 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder David A. Duffield sold 57,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total value of $15,692,670.00. Following the completion of the sale, the insider now directly owns 284,000 shares in the company, valued at $78,188,040. This trade represents a 16.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 433,321 shares of company stock worth $111,763,803. 20.00% of the stock is currently owned by insiders.

Institutional Trading of Workday

Institutional investors have recently bought and sold shares of the stock. Bristlecone Advisors LLC lifted its position in Workday by 49.6% in the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock worth $754,000 after buying an additional 968 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Workday by 7.2% in the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after buying an additional 1,978 shares during the last quarter. Grafton Street Partners Fund LP bought a new stake in Workday in the third quarter worth $4,424,000. ICICI Prudential Asset Management Co Ltd lifted its position in Workday by 32.4% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after buying an additional 7,802 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after purchasing an additional 119,769 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.