Workday (NASDAQ:WDAY) Price Target Raised to $202.00

Workday (NASDAQ:WDAY) had its price target upped by Monness Crespi & Hardt from $150.00 to $202.00 in a research note released on Monday, Marketbeat Ratings reports. Monness Crespi & Hardt currently has a buy rating on the software maker’s stock.

WDAY has been the topic of a number of other reports. Summit Redstone set a $275.00 price objective on Workday in a report on Wednesday, May 27th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Workday in a report on Friday, May 22nd. HC Wainwright set a $140.00 target price on shares of Workday in a research report on Wednesday, May 27th. DA Davidson set a $135.00 price target on shares of Workday in a report on Tuesday, May 26th. Finally, William Blair raised shares of Workday to a “strong-buy” rating in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $182.14.

Workday Trading Down 3.3%

WDAY stock opened at $175.29 on Monday. The company has a market cap of $43.30 billion, a price-to-earnings ratio of 54.78, a PEG ratio of 1.93 and a beta of 1.08. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $142.14 and a 200-day simple moving average of $138.76. Workday has a 52 week low of $110.36 and a 52 week high of $249.85.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period last year, the company posted $2.23 EPS. The business’s quarterly revenue was up 13.5% on a year-over-year basis. On average, equities research analysts expect that Workday will post 5.38 EPS for the current year.

Insider Buying and Selling at Workday

In other Workday news, insider Gerrit S. Kazmaier sold 2,728 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $143.62, for a total value of $391,795.36. Following the completion of the sale, the insider owned 266,388 shares of the company’s stock, valued at $38,258,644.56. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder David A. Duffield sold 107,500 shares of Workday stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $136.74, for a total transaction of $14,699,550.00. Following the sale, the insider owned 105,049 shares in the company, valued at $14,364,400.26. This represents a 50.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 875,020 shares of company stock worth $113,938,503. Insiders own 18.64% of the company’s stock.

Institutional Investors Weigh In On Workday

A number of large investors have recently added to or reduced their stakes in WDAY. Rakuten Securities Inc. purchased a new position in Workday in the 2nd quarter valued at about $25,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Workday during the third quarter worth about $26,000. JPL Wealth Management LLC acquired a new position in shares of Workday in the third quarter worth about $30,000. DT Investment Partners LLC acquired a new position in shares of Workday in the fourth quarter worth about $27,000. Finally, LRI Investments LLC purchased a new position in Workday in the fourth quarter valued at about $29,000. 89.81% of the stock is owned by institutional investors and hedge funds.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.