Mizuho Increases Workday (NASDAQ:WDAY) Price Target to $320.00

Workday (NASDAQ:WDAY - Free Report) had its target price upped by Mizuho from $280.00 to $320.00 in a research note released on Friday morning,Benzinga reports. Mizuho currently has an outperform rating on the software maker's stock.

WDAY has been the topic of several other reports. Oppenheimer restated an "outperform" rating and issued a $300.00 price objective on shares of Workday in a report on Tuesday, December 3rd. Citigroup reduced their price target on shares of Workday from $274.00 to $270.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 25th. Loop Capital lowered their price objective on shares of Workday from $270.00 to $242.00 and set a "hold" rating for the company in a research report on Wednesday, November 27th. The Goldman Sachs Group boosted their target price on Workday from $300.00 to $305.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. Finally, Wells Fargo & Company upped their price target on Workday from $300.00 to $330.00 and gave the stock an "overweight" rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $290.64.

Workday Price Performance

Shares of WDAY stock traded down $1.15 during trading hours on Friday, reaching $273.67. The company had a trading volume of 2,826,055 shares, compared to its average volume of 2,240,031. Workday has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The company has a market capitalization of $72.52 billion, a price-to-earnings ratio of 45.58, a PEG ratio of 5.02 and a beta of 1.34. The stock has a fifty day moving average of $253.11 and a 200-day moving average of $238.37.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.13 billion. During the same quarter in the previous year, the company posted $0.47 EPS. The company's revenue was up 15.8% compared to the same quarter last year. On average, equities analysts anticipate that Workday will post 2.58 earnings per share for the current year.

Insider Buying and Selling at Workday

In related news, Director Wayne A.I. Frederick sold 1,828 shares of the company's stock in a transaction on Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the transaction, the director now owns 8,674 shares of the company's stock, valued at $2,097,806.90. This represents a 17.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 57,000 shares of the firm's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $247.59, for a total value of $14,112,630.00. Following the completion of the sale, the insider now directly owns 505,000 shares of the company's stock, valued at approximately $125,032,950. This trade represents a 10.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 361,463 shares of company stock valued at $88,422,088. 20.00% of the stock is owned by company insiders.

Institutional Trading of Workday

Several large investors have recently bought and sold shares of the company. Oddo BHF Asset Management Sas acquired a new stake in shares of Workday in the third quarter valued at approximately $15,663,000. Garde Capital Inc. grew its holdings in Workday by 60.6% during the 3rd quarter. Garde Capital Inc. now owns 3,120 shares of the software maker's stock valued at $763,000 after buying an additional 1,177 shares during the last quarter. Peapack Gladstone Financial Corp increased its position in Workday by 21.3% during the third quarter. Peapack Gladstone Financial Corp now owns 2,280 shares of the software maker's stock worth $557,000 after buying an additional 401 shares in the last quarter. Synovus Financial Corp raised its holdings in shares of Workday by 5.7% in the third quarter. Synovus Financial Corp now owns 19,590 shares of the software maker's stock worth $4,788,000 after acquiring an additional 1,051 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in shares of Workday by 43.8% in the third quarter. Tidal Investments LLC now owns 13,546 shares of the software maker's stock valued at $3,311,000 after acquiring an additional 4,128 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

About Workday

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.