Workday (NASDAQ:WDAY) Now Covered by Analysts at Westpark Capital

Research analysts at Westpark Capital began coverage on shares of Workday (NASDAQ:WDAY - Get Free Report) in a report issued on Tuesday, MarketBeat reports. The firm set a "buy" rating and a $315.00 price target on the software maker's stock. Westpark Capital's price target indicates a potential upside of 21.62% from the stock's current price.

A number of other equities analysts have also recently issued reports on the company. Scotiabank cut their target price on Workday from $355.00 to $305.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. Wells Fargo & Company lowered their target price on shares of Workday from $360.00 to $325.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Daiwa America upgraded Workday to a "strong-buy" rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. boosted their price objective on Workday from $285.00 to $310.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group raised their target price on Workday from $300.00 to $330.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Workday presently has a consensus rating of "Moderate Buy" and a consensus target price of $293.62.

Workday Stock Up 0.4 %

NASDAQ WDAY traded up $1.03 on Tuesday, hitting $259.01. 1,324,391 shares of the company were exchanged, compared to its average volume of 2,573,848. The company has a market cap of $68.90 billion, a PE ratio of 42.95, a PEG ratio of 3.55 and a beta of 1.30. Workday has a 12 month low of $199.81 and a 12 month high of $294.00. The stock has a fifty day moving average of $238.49 and a 200-day moving average of $252.15. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. As a group, analysts forecast that Workday will post 2.63 earnings per share for the current year.

Insider Activity

In other Workday news, CEO Carl M. Eschenbach sold 3,125 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total value of $733,156.25. Following the completion of the transaction, the chief executive officer now directly owns 10,847 shares of the company's stock, valued at $2,544,814.67. This trade represents a 22.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark S. Garfield sold 497 shares of the company's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total transaction of $112,595.35. Following the completion of the transaction, the chief accounting officer now directly owns 34,385 shares in the company, valued at approximately $7,789,921.75. The trade was a 1.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 321,724 shares of company stock worth $77,976,126 over the last ninety days. Company insiders own 19.31% of the company's stock.

Institutional Trading of Workday

A number of large investors have recently modified their holdings of WDAY. Bristlecone Advisors LLC grew its stake in Workday by 49.6% in the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock worth $754,000 after buying an additional 968 shares in the last quarter. Nordea Investment Management AB grew its position in Workday by 20.5% in the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker's stock worth $182,753,000 after acquiring an additional 119,769 shares in the last quarter. Burns Matteson Capital Management LLC purchased a new position in Workday in the fourth quarter worth $369,000. Smith Group Asset Management LLC increased its stake in Workday by 9.4% in the fourth quarter. Smith Group Asset Management LLC now owns 109,013 shares of the software maker's stock valued at $28,129,000 after acquiring an additional 9,324 shares during the last quarter. Finally, Swedbank AB raised its position in Workday by 17.7% during the fourth quarter. Swedbank AB now owns 97,529 shares of the software maker's stock valued at $25,165,000 after purchasing an additional 14,682 shares in the last quarter. Institutional investors 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.