The Goldman Sachs Group Increases Workday (NASDAQ:WDAY) Price Target to $305.00

Workday (NASDAQ:WDAY) had its target price boosted by The Goldman Sachs Group from $300.00 to $305.00 in a report published on Thursday, Benzinga reports. They currently have a buy rating on the software maker’s stock.

Other equities analysts also recently issued reports about the stock. Robert W. Baird reduced their target price on shares of Workday from $316.00 to $265.00 and set an outperform rating on the stock in a research note on Friday, May 24th. Oppenheimer reduced their price target on shares of Workday from $320.00 to $300.00 and set an outperform rating on the stock in a research note on Friday, May 24th. Stifel Nicolaus boosted their price target on shares of Workday from $250.00 to $270.00 and gave the company a hold rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. reduced their price target on shares of Workday from $300.00 to $285.00 and set an overweight rating on the stock in a research note on Friday, May 24th. Finally, Evercore ISI reduced their price target on shares of Workday from $300.00 to $290.00 and set an outperform rating on the stock in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $286.48.

Workday Price Performance

Shares of WDAY stock opened at $248.29 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The firm’s 50-day moving average is $237.48 and its two-hundred day moving average is $241.95. Workday has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a market capitalization of $65.80 billion, a PE ratio of 44.74, a price-to-earnings-growth ratio of 5.07 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the firm earned $0.40 earnings per share. Workday’s quarterly revenue was up 16.5% compared to the same quarter last year. Analysts predict that Workday will post 2.39 earnings per share for the current year.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $247.59, for a total transaction of $14,112,630.00. Following the completion of the transaction, the insider now owns 505,000 shares in the company, valued at approximately $125,032,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $223.80, for a total value of $12,532,800.00. Following the completion of the transaction, the insider now owns 674,000 shares in the company, valued at approximately $150,841,200. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $247.59, for a total transaction of $14,112,630.00. Following the completion of the transaction, the insider now owns 505,000 shares of the company’s stock, valued at approximately $125,032,950. The disclosure for this sale can be found here. Insiders sold 467,402 shares of company stock worth $109,864,184 in the last 90 days. Corporate insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Crewe Advisors LLC acquired a new position in shares of Workday in the 1st quarter valued at $27,000. Sound Income Strategies LLC boosted its stake in Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after purchasing an additional 49 shares during the period. SouthState Corp boosted its stake in Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after purchasing an additional 129 shares during the period. Pacific Center for Financial Services boosted its stake in Workday by 57.0% during the 1st quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock worth $43,000 after purchasing an additional 57 shares during the period. Finally, Goodman Advisory Group LLC acquired a new stake in Workday during the 2nd quarter worth $35,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

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.