Wells Fargo & Company Boosts Workday (NASDAQ:WDAY) Price Target to $260.00

Workday (NASDAQ:WDAY – Get Rating) had its price target boosted by equities researchers at Wells Fargo & Company from $250.00 to $260.00 in a report released on Friday, The Fly reports. Wells Fargo & Company‘s price objective points to a potential upside of 32.38% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity Group increased their price objective on Workday from $200.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, February 28th. Bank of America raised their price objective on shares of Workday from $220.00 to $250.00 in a research report on Friday. Credit Suisse Group reaffirmed a “neutral” rating and issued a $195.00 target price on shares of Workday in a report on Wednesday, March 1st. DA Davidson raised their price target on Workday from $205.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, February 28th. Finally, Piper Sandler upped their price objective on Workday from $184.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, February 28th. One 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.64.

Workday Price Performance

Shares of WDAY opened at $196.41 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.75 and a quick ratio of 1.75. Workday has a 1-year low of $128.72 and a 1-year high of $206.68. The stock has a market cap of $50.87 billion, a PE ratio of -136.40, a price-to-earnings-growth ratio of 17.02 and a beta of 1.28. The firm has a fifty day moving average price of $186.71 and a 200 day moving average price of $188.11.

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

Insiders Place Their Bets

In other Workday news, Director George J. Still, Jr. sold 5,000 shares of Workday stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $183.34, for a total transaction of $916,700.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $916,700. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Workday news, Director George J. Still, Jr. sold 5,000 shares of Workday stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $183.34, for a total transaction of $916,700.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $916,700. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO James Bozzini sold 10,574 shares of Workday stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $196.36, for a total transaction of $2,076,310.64. Following the transaction, the chief operating officer now owns 92,654 shares of the company’s stock, valued at approximately $18,193,539.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,469 shares of company stock worth $8,469,440. Insiders own 21.09% of the company’s stock.

Hedge Funds Weigh In On Workday

A number of institutional investors have recently modified their holdings of WDAY. RB Capital Management LLC raised its position in shares of Workday by 2.8% in the first quarter. RB Capital Management LLC now owns 2,763 shares of the software maker’s stock valued at $662,000 after buying an additional 76 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Workday by 11.8% in the first quarter. Private Advisor Group LLC now owns 2,511 shares of the software maker’s stock valued at $601,000 after buying an additional 265 shares during the last quarter. MetLife Investment Management LLC acquired a new position in shares of Workday in the first quarter valued at approximately $2,974,000. Yousif Capital Management LLC raised its position in shares of Workday by 2.7% in the first quarter. Yousif Capital Management LLC now owns 2,813 shares of the software maker’s stock valued at $674,000 after buying an additional 74 shares during the last quarter. Finally, Raymond James Trust N.A. grew its holdings in Workday by 10.3% in the first quarter. Raymond James Trust N.A. now owns 3,391 shares of the software maker’s stock valued at $812,000 after purchasing an additional 316 shares during the period. Institutional investors and hedge funds own 66.98% of the company’s stock.

About Workday

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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.