Workday (NASDAQ:WDAY) Given New $328.00 Price Target at Westpark Capital

Workday (NASDAQ:WDAY - Get Free Report) had its target price upped by equities research analysts at Westpark Capital from $315.00 to $328.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the software maker's stock. Westpark Capital's price target indicates a potential upside of 37.07% from the company's current price.

A number of other equities research analysts have also weighed in on the company. KeyCorp boosted their price target on Workday from $305.00 to $335.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Redburn Atlantic initiated coverage on shares of Workday in a report on Wednesday, February 19th. They set a "neutral" rating for the company. Morgan Stanley lowered their price target on Workday from $275.00 to $250.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Royal Bank of Canada raised their price target on shares of Workday from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group decreased their price objective on Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Nine equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $293.54.

Workday Price Performance

Shares of WDAY stock traded up $1.29 during mid-day trading on Friday, hitting $239.30. The company had a trading volume of 4,737,256 shares, compared to its average volume of 2,551,878. The stock's 50 day moving average price is $242.28 and its 200-day moving average price is $254.06. Workday has a 52-week low of $199.81 and a 52-week high of $294.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The company has a market capitalization of $63.65 billion, a P/E ratio of 39.68, a P/E/G ratio of 3.55 and a beta of 1.30.

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

Insider Buying and Selling at Workday

In other news, CAO Mark S. Garfield sold 497 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 34,385 shares of the company's stock, valued at $7,789,921.75. This trade represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 81,275 shares of Workday stock in a transaction on 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 transaction, the insider now directly owns 102,997 shares of the company's stock, valued at approximately $22,111,395.96. This trade represents a 44.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 321,724 shares of company stock worth $77,976,126. 19.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its position in Workday by 65.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 273 shares of the software maker's stock worth $70,000 after purchasing an additional 108 shares during the last quarter. Koshinski Asset Management Inc. bought a new position in shares of Workday in the 4th quarter worth $201,000. Ballentine Partners LLC grew its position in Workday by 8.1% during the 4th quarter. Ballentine Partners LLC now owns 2,046 shares of the software maker's stock worth $528,000 after acquiring an additional 154 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Workday by 42.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,433 shares of the software maker's stock worth $1,143,000 after purchasing an additional 1,317 shares during the last quarter. Finally, Atomi Financial Group Inc. bought a new stake in Workday during the 4th quarter valued at approximately $344,000. Institutional investors 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.