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

by · The Markets Daily

Workday (NASDAQ:WDAY – Free Report) had its target price increased by The Goldman Sachs Group from $300.00 to $305.00 in a report issued on Thursday, Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC cut their price objective on shares of Workday from $350.00 to $300.00 and set a buy rating for the company in a research report on Wednesday, September 18th. Wells Fargo & Company increased their price target on shares of Workday from $260.00 to $300.00 and gave the company an overweight rating in a report on Friday, August 23rd. Royal Bank of Canada cut their price target on shares of Workday from $310.00 to $300.00 and set an outperform rating for the company in a report on Friday, May 24th. Bank of America increased their price target on shares of Workday from $265.00 to $310.00 and gave the company a buy rating in a report on Friday, August 23rd. Finally, TD Cowen cut their price target on shares of Workday from $330.00 to $290.00 and set a buy rating for the company in a report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, Workday has a consensus rating of Moderate Buy and an average price target of $286.48.

View Our Latest Stock Analysis on WDAY

Workday Stock Up 0.3 %

Shares of Workday stock opened at $248.29 on Thursday. The company has a market cap of $65.80 billion, a P/E ratio of 44.74, a PEG ratio of 5.07 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. Workday has a one year low of $199.81 and a one year high of $311.28. The firm has a fifty day moving average of $237.48 and a two-hundred day moving average of $241.95.

Workday (NASDAQ:WDAY – Get Free Report) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. Workday’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. On average, analysts forecast that Workday will post 2.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $226.67, for a total value of $710,383.78. Following the sale, the insider now directly owns 92,014 shares of the company’s stock, valued at $20,856,813.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 674,000 shares of the company’s stock, valued at $150,841,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $226.67, for a total transaction of $710,383.78. Following the completion of the sale, the insider now directly owns 92,014 shares in the company, valued at $20,856,813.38. The disclosure for this sale can be found here. Insiders have sold 467,402 shares of company stock valued at $109,864,184 in the last ninety days. Insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Carolinas Wealth Consulting LLC raised its holdings in Workday by 9.7% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock valued at $106,000 after buying an additional 34 shares during the period. Congress Wealth Management LLC DE raised its holdings in Workday by 2.4% in the fourth quarter. Congress Wealth Management LLC DE now owns 1,658 shares of the software maker’s stock valued at $458,000 after buying an additional 39 shares during the period. Raleigh Capital Management Inc. raised its holdings in Workday by 4.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 869 shares of the software maker’s stock valued at $240,000 after buying an additional 39 shares during the period. Hudson Value Partners LLC raised its holdings in Workday by 0.8% in the fourth quarter. Hudson Value Partners LLC now owns 5,135 shares of the software maker’s stock valued at $1,418,000 after buying an additional 40 shares during the period. Finally, D.A. Davidson & CO. raised its holdings in Workday by 3.5% in the fourth quarter. D.A. Davidson & CO. now owns 1,241 shares of the software maker’s stock valued at $343,000 after buying an additional 42 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

About Workday

(Get Free Report)

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.

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