Westpark Capital Forecasts Strong Price Appreciation for Workday (NASDAQ:WDAY) Stock

Workday (NASDAQ:WDAY - Get Free Report) had its target price hoisted by Westpark Capital from $315.00 to $328.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the software maker's stock. Westpark Capital's price objective points to a potential upside of 37.01% from the company's current price.

Several other research firms also recently issued reports on WDAY. Canaccord Genuity Group boosted their price objective on Workday from $300.00 to $330.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Needham & Company LLC reaffirmed a "buy" rating and issued a $300.00 price target on shares of Workday in a report on Wednesday, May 21st. Morgan Stanley decreased their target price on Workday from $275.00 to $250.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group increased their target price on shares of Workday from $310.00 to $345.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Finally, Oppenheimer raised their target price on shares of Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $293.54.

Workday Price Performance

Shares of Workday stock traded up $0.09 during trading hours on Friday, reaching $239.39. The stock had a trading volume of 1,310,791 shares, compared to its average volume of 2,547,153. The firm has a market capitalization of $63.68 billion, a PE ratio of 39.68, a PEG ratio of 3.55 and a beta of 1.30. The stock's 50 day moving average is $242.06 and its 200 day moving average is $253.96. 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 has a twelve month low of $199.81 and a twelve month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, beating the consensus estimate of $2.01 by $0.22. The firm had revenue of $2.24 billion during 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 firm's revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.74 EPS. Equities analysts expect that Workday will post 2.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Mark S. Garfield sold 497 shares of the firm's stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $226.55, for a total transaction of $112,595.35. Following the sale, the chief accounting officer now directly owns 34,385 shares in the company, valued at approximately $7,789,921.75. This trade represents a 1.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sayan Chakraborty sold 6,056 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the sale, the insider now directly owns 111,324 shares of the company's stock, valued at approximately $29,556,522. The trade was a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 321,724 shares of company stock worth $77,976,126. 20.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WDAY. MassMutual Private Wealth & Trust FSB boosted its stake in Workday by 65.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 273 shares of the software maker's stock valued at $70,000 after purchasing an additional 108 shares during the period. Koshinski Asset Management Inc. bought a new stake in Workday in the fourth quarter worth about $201,000. Ballentine Partners LLC lifted its stake in Workday by 8.1% during the fourth quarter. Ballentine Partners LLC now owns 2,046 shares of the software maker's stock valued at $528,000 after purchasing an additional 154 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of Workday by 42.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 4,433 shares of the software maker's stock worth $1,143,000 after acquiring an additional 1,317 shares in the last quarter. Finally, Atomi Financial Group Inc. purchased a new position in Workday in the 4th quarter worth about $344,000. 89.81% of the stock is currently owned by institutional investors.

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.