Morgan Stanley Boosts Workday (NASDAQ:WDAY) Price Target to $250.00

Workday (NASDAQ:WDAY – Get Rating) had its target price hoisted by investment analysts at Morgan Stanley from $230.00 to $250.00 in a research report issued on Friday, The Fly reports. Morgan Stanley’s target price would indicate a potential upside of 27.28% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Mizuho increased their price objective on shares of Workday from $225.00 to $250.00 in a research note on Friday. Oppenheimer increased their price objective on shares of Workday from $205.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, February 23rd. JMP Securities raised their price target on shares of Workday from $210.00 to $252.00 in a research note on Friday. Cowen raised their price target on shares of Workday from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, February 28th. Finally, Loop Capital raised their price target on shares of Workday from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Tuesday, February 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $218.64.

Workday Price Performance

NASDAQ:WDAY opened at $196.41 on Friday. Workday has a 52 week low of $128.72 and a 52 week high of $206.68. The firm has a market cap of $50.87 billion, a price-to-earnings ratio of -136.40, a P/E/G ratio of 17.02 and a beta of 1.28. The firm’s 50-day simple moving average is $186.71 and its 200 day simple moving average is $188.11. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.75 and a current ratio of 1.75.

Workday (NASDAQ:WDAY – Get Rating) last released its quarterly earnings results on Thursday, May 25th. The software maker reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.19. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. Workday had a negative net margin of 5.90% and a negative return on equity of 1.96%. Workday’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.17) earnings per share. As a group, sell-side analysts predict that Workday will post 0.45 earnings per share for the current year.

Insider Activity

In other news, CEO Aneel Bhusri sold 11,734 shares of Workday stock in a transaction on Wednesday, April 5th. The shares were sold at an average price of $196.37, for a total value of $2,304,205.58. Following the completion of the sale, the chief executive officer now owns 403,988 shares in the company, valued at approximately $79,331,123.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Douglas A. Robinson sold 266 shares of Workday stock in a transaction on Monday, March 6th. The shares were sold at an average price of $191.44, for a total value of $50,923.04. Following the completion of the sale, the insider now owns 129,802 shares in the company, valued at approximately $24,849,294.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Aneel Bhusri sold 11,734 shares of Workday stock in a transaction on Wednesday, April 5th. The shares were sold at an average price of $196.37, for a total transaction of $2,304,205.58. Following the completion of the sale, the chief executive officer now directly owns 403,988 shares of the company’s stock, valued at approximately $79,331,123.56. The disclosure for this sale can be found here. Insiders sold 43,469 shares of company stock worth $8,469,440 in the last quarter. 21.09% of the stock is owned by corporate insiders.

Institutional Trading of Workday

Hedge funds have recently bought and sold shares of the business. Atticus Wealth Management LLC acquired a new stake in Workday in the 1st quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Workday in the 1st quarter valued at $25,000. West Oak Capital LLC acquired a new stake in Workday in the 1st quarter valued at $29,000. Valley National Advisers Inc. grew its position in Workday by 83.7% in the 1st quarter. Valley National Advisers Inc. now owns 158 shares of the software maker’s stock valued at $30,000 after purchasing an additional 72 shares during the period. Finally, Elequin Securities LLC acquired a new stake in Workday in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 66.98% of the company’s stock.

Workday Company Profile

(Get Rating)

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.