DA Davidson Boosts Workday (NASDAQ:WDAY) Price Target to $240.00

Workday (NASDAQ:WDAY – Get Rating) had its price objective hoisted by DA Davidson from $220.00 to $240.00 in a research report issued to clients and investors on Friday, The Fly reports. DA Davidson’s target price points to a potential upside of 22.19% from the company’s current price.

Several other equities analysts have also commented on WDAY. Oppenheimer increased their price target on shares of Workday from $205.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, February 23rd. Canaccord Genuity Group raised their target price on shares of Workday from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, February 28th. Mizuho raised their target price on shares of Workday from $225.00 to $250.00 in a research report on Friday. Bank of America raised their target price on shares of Workday from $220.00 to $250.00 in a research report on Friday. Finally, Cowen raised their target price on shares of Workday from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $218.64.

Workday Stock Performance

Shares of Workday stock opened at $196.41 on Friday. The firm has a market capitalization of $50.87 billion, a P/E ratio of -136.40, a P/E/G ratio of 17.02 and a beta of 1.28. Workday has a 52 week low of $128.72 and a 52 week high of $206.68. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average is $186.71 and its two-hundred day moving average is $188.11.

Workday (NASDAQ:WDAY – Get Rating) last announced its quarterly earnings results on Thursday, May 25th. The software maker reported $1.31 EPS for the quarter, beating the consensus estimate of $1.12 by $0.19. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. Workday had a negative net margin of 5.90% and a negative return on equity of 1.96%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.17) earnings per share. Research analysts forecast that Workday will post 0.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Aneel Bhusri sold 11,734 shares of Workday stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $196.37, for a total transaction of $2,304,205.58. Following the completion of the sale, the chief executive officer now owns 403,988 shares in the company, valued at approximately $79,331,123.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Aneel Bhusri sold 11,734 shares of Workday stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $196.37, for a total transaction of $2,304,205.58. Following the completion of the sale, the chief executive officer now owns 403,988 shares in the company, valued at approximately $79,331,123.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sayan Chakraborty sold 8,836 shares of Workday stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $196.37, for a total value of $1,735,125.32. Following the sale, the insider now owns 85,765 shares of the company’s stock, valued at approximately $16,841,673.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,469 shares of company stock worth $8,469,440. 21.09% of the stock is owned by corporate insiders.

Institutional Trading of Workday

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atticus Wealth Management LLC acquired a new position in shares of Workday during the 1st quarter valued at about $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Workday during the 1st quarter valued at about $25,000. Elequin Securities LLC acquired a new position in shares of Workday during the 4th quarter valued at about $27,000. Guardian Wealth Advisors LLC acquired a new position in shares of Workday during the 3rd quarter valued at about $29,000. Finally, West Oak Capital LLC acquired a new position in shares of Workday during the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 66.98% of the company’s stock.

Workday Company Profile

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Workday, Inc engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management and analytics applications designed for companies, educational institutions and government agencies. The company was founded by David A.