Evercore ISI Boosts Workday (NASDAQ:WDAY) Price Target to $240.00

Workday (NASDAQ:WDAY – Get Rating) had its price objective raised by equities researchers at Evercore ISI from $225.00 to $240.00 in a report released on Friday, The Fly reports. Evercore ISI’s price target points to a potential upside of 22.19% from the company’s previous close.

A number of other brokerages also recently commented on WDAY. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target on shares of Workday in a report on Tuesday, February 28th. KeyCorp increased their target price on Workday from $195.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, February 6th. Cowen increased their target price on Workday from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Tuesday, February 28th. Barclays increased their target price on Workday from $216.00 to $243.00 in a report on Friday. Finally, OTR Global raised Workday to a “positive” rating in a report on Wednesday, February 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $221.18.

Workday Price Performance

WDAY stock opened at $196.41 on Friday. The firm has a market cap of $50.87 billion, a P/E ratio of -136.40, a price-to-earnings-growth ratio of 17.02 and a beta of 1.28. Workday has a 1 year low of $128.72 and a 1 year high of $206.68. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a 50-day simple moving average of $186.71 and a 200-day simple moving average of $188.11.

Workday (NASDAQ:WDAY – Get Rating) last issued its quarterly earnings results on Thursday, May 25th. The software maker reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.19. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. Workday had a negative return on equity of 1.96% and a negative net margin of 5.90%. Workday’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.17) earnings per share. On average, equities analysts predict that Workday will post 0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director George J. Still, Jr. sold 5,000 shares of Workday stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $183.34, for a total value of $916,700.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $916,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Workday news, Director George J. Still, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $183.34, for a total transaction of $916,700.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at $916,700. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Sayan Chakraborty sold 8,836 shares of the firm’s stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $196.37, for a total value of $1,735,125.32. Following the transaction, the insider now owns 85,765 shares in the company, valued at $16,841,673.05. The disclosure for this sale can be found here. Insiders have sold 43,469 shares of company stock worth $8,469,440 in the last three months. 21.09% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Workday

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Workday by 1.0% in the third quarter. Vanguard Group Inc. now owns 12,813,123 shares of the software maker’s stock worth $1,950,413,000 after purchasing an additional 128,192 shares during the period. BlackRock Inc. increased its stake in Workday by 2.1% during the first quarter. BlackRock Inc. now owns 12,379,921 shares of the software maker’s stock valued at $2,556,949,000 after acquiring an additional 260,097 shares during the period. Baillie Gifford & Co. increased its stake in Workday by 1.0% during the fourth quarter. Baillie Gifford & Co. now owns 7,386,848 shares of the software maker’s stock valued at $1,236,041,000 after acquiring an additional 70,328 shares during the period. JPMorgan Chase & Co. increased its stake in Workday by 59.3% during the first quarter. JPMorgan Chase & Co. now owns 5,951,816 shares of the software maker’s stock valued at $1,229,289,000 after acquiring an additional 2,216,683 shares during the period. Finally, FMR LLC increased its stake in Workday by 9.5% during the first quarter. FMR LLC now owns 4,469,451 shares of the software maker’s stock valued at $923,120,000 after acquiring an additional 387,018 shares during the period. 66.98% of the stock is currently owned by institutional investors.

Workday Company Profile

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Workday, Inc engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management and analytics applications designed for companies, educational institutions and government agencies. The company was founded by David A.