Workday (NASDAQ:WDAY) Given a $255.00 Price Target by Morgan Stanley Analysts

Morgan Stanley set a $255.00 price target on Workday (NASDAQ:WDAY - Free Report) in a research report report published on Friday, Marketbeat.com reports. The brokerage currently has an equal weight rating on the software maker's stock.

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity Group lifted their price objective on shares of Workday from $300.00 to $330.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Oppenheimer lifted their target price on shares of Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. BMO Capital Markets increased their price objective on Workday from $300.00 to $314.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Citigroup cut shares of Workday from a "neutral" rating to a "mixed" rating in a report on Friday, May 16th. Finally, The Goldman Sachs Group boosted their price target on Workday from $310.00 to $345.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Workday has an average rating of "Moderate Buy" and a consensus target price of $293.54.

Workday Trading Down 12.5%

Shares of WDAY stock traded down $34.06 during mid-day trading on Friday, hitting $238.01. 9,908,921 shares of the company's stock were exchanged, compared to its average volume of 2,543,100. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a market cap of $63.31 billion, a price-to-earnings ratio of 39.47, a PEG ratio of 3.55 and a beta of 1.30. The stock has a 50-day simple moving average of $242.57 and a two-hundred day simple moving average of $254.19. Workday has a fifty-two week low of $199.81 and a fifty-two week high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.22. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business's revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the business posted $1.74 EPS. Equities analysts expect that Workday will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In related news, CAO Mark S. Garfield sold 497 shares of the business's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total value of $112,595.35. Following the sale, the chief accounting officer now owns 34,385 shares of the company's stock, valued at $7,789,921.75. The trade was a 1.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 81,275 shares of the company's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $22,111,395.96. This represents a 44.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 321,724 shares of company stock valued at $77,976,126 in the last quarter. Corporate insiders own 19.31% of the company's stock.

Hedge Funds Weigh In On Workday

Large investors have recently made changes to their positions in the company. Roxbury Financial LLC acquired a new position in Workday in the fourth quarter valued at approximately $25,000. Crews Bank & Trust acquired a new stake in Workday during the 4th quarter worth $26,000. Avion Wealth raised its position in shares of Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker's stock valued at $27,000 after acquiring an additional 86 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Workday by 76.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock valued at $28,000 after purchasing an additional 54 shares during the period. Finally, Dagco Inc. bought a new position in shares of Workday in the 1st quarter worth $31,000. Institutional investors and hedge funds own 89.81% of the company's stock.

About Workday

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.