Bank of America Raises Workday (NASDAQ:WDAY) Price Target to $250.00

Workday (NASDAQ:WDAY – Get Rating) had its price target lifted by analysts at Bank of America from $220.00 to $250.00 in a report issued on Friday, The Fly reports. Bank of America‘s target price would indicate a potential upside of 27.28% from the company’s previous close.

A number of other equities research analysts have also weighed in on WDAY. BMO Capital Markets boosted their price objective on Workday from $195.00 to $205.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 28th. Credit Suisse Group reiterated a “neutral” rating and issued a $195.00 price target on shares of Workday in a research report on Wednesday, March 1st. BNP Paribas upgraded Workday from a “neutral” rating to an “outperform” rating and set a $235.00 price target on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upped their price target on Workday from $195.00 to $200.00 and gave the company a “hold” rating in a research report on Tuesday, February 28th. Finally, Piper Sandler upped their price target on Workday from $184.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, February 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.64.

Workday Trading Up 0.1 %

Shares of WDAY 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 twelve month low of $128.72 and a twelve month 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 stock’s fifty day simple moving average is $186.71 and its 200 day simple moving average is $188.11.

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

Insider Buying and Selling

In other news, COO James Bozzini sold 10,574 shares of the stock in a transaction that occurred on Wednesday, April 5th. The stock was sold at an average price of $196.36, for a total value of $2,076,310.64. Following the completion of the sale, the chief operating officer now directly owns 92,654 shares of the company’s stock, valued at $18,193,539.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO James Bozzini sold 10,574 shares of the stock in a transaction that occurred on Wednesday, April 5th. The stock was sold at an average price of $196.36, for a total value of $2,076,310.64. Following the completion of the sale, the chief operating officer now directly owns 92,654 shares of the company’s stock, valued at $18,193,539.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Douglas A. Robinson sold 266 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $191.44, for a total value of $50,923.04. Following the completion of the sale, the insider now directly owns 129,802 shares of the company’s stock, valued at $24,849,294.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,469 shares of company stock valued at $8,469,440. 21.09% of the stock is owned by company insiders.

Institutional Trading of Workday

Several institutional investors and hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC raised its stake in shares of Workday by 7.5% in the first quarter. ProShare Advisors LLC now owns 169,893 shares of the software maker’s stock worth $35,090,000 after purchasing an additional 11,910 shares during the last quarter. Empower Advisory Group LLC bought a new position in shares of Workday in the first quarter valued at approximately $606,000. Legato Capital Management LLC grew its holdings in shares of Workday by 73.1% in the first quarter. Legato Capital Management LLC now owns 8,295 shares of the software maker’s stock valued at $1,713,000 after acquiring an additional 3,503 shares in the last quarter. Seaport Global Advisors LLC grew its holdings in shares of Workday by 9.0% in the first quarter. Seaport Global Advisors LLC now owns 1,562 shares of the software maker’s stock valued at $323,000 after acquiring an additional 129 shares in the last quarter. Finally, Toroso Investments LLC grew its holdings in shares of Workday by 4.4% in the first quarter. Toroso Investments LLC now owns 6,143 shares of the software maker’s stock valued at $1,269,000 after acquiring an additional 261 shares in the last quarter. 66.98% of the stock is owned by hedge funds and other institutional investors.

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.