Morgan Stanley Increases Workday (NASDAQ:WDAY) Price Target to $230.00

Workday (NASDAQ:WDAY – Get Rating) had its target price lifted by analysts at Morgan Stanley from $220.00 to $230.00 in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm currently has an “overweight” rating on the software maker’s stock. Morgan Stanley’s target price would indicate a potential upside of 24.92% from the company’s current price.

WDAY has been the topic of several other reports. Deutsche Bank Aktiengesellschaft cut Workday from a “buy” rating to a “hold” rating and lowered their price target for the company from $215.00 to $195.00 in a report on Monday, January 23rd. JPMorgan Chase & Co. lowered their price target on Workday from $235.00 to $223.00 in a report on Wednesday, November 30th. Guggenheim cut Workday from a “neutral” rating to a “sell” rating and set a $142.00 price target on the stock. in a report on Tuesday, January 17th. Monness Crespi & Hardt cut Workday from a “buy” rating to a “neutral” rating in a report on Thursday, November 17th. Finally, Capital One Financial assumed coverage on Workday in a report on Friday, January 13th. They set an “overweight” rating and a $200.00 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.72.

Workday Price Performance

Shares of NASDAQ WDAY opened at $184.12 on Tuesday. Workday has a twelve month low of $128.72 and a twelve month high of $250.00. The firm has a market cap of $47.32 billion, a P/E ratio of -127.86, a PEG ratio of 188.65 and a beta of 1.25. The company has a 50 day moving average of $176.05 and a 200 day moving average of $162.13. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.55.

Workday (NASDAQ:WDAY – Get Rating) last announced its quarterly earnings data on Monday, February 27th. The software maker reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. Workday had a negative net margin of 5.90% and a negative return on equity of 2.00%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the business earned ($0.20) EPS. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. As a group, research analysts expect that Workday will post 0.04 EPS for the current fiscal year.

Workday announced that its board has authorized a stock buyback plan on Tuesday, November 29th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the software maker to buy up to 1.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, COO James Bozzini sold 4,389 shares of Workday stock in a transaction that occurred on Thursday, January 5th. The shares were sold at an average price of $161.72, for a total transaction of $709,789.08. Following the completion of the sale, the chief operating officer now owns 103,228 shares of the company’s stock, valued at $16,694,032.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Barbara A. Larson sold 904 shares of the business’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $176.05, for a total value of $159,149.20. Following the completion of the transaction, the chief financial officer now owns 76,588 shares of the company’s stock, valued at $13,483,317.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO James Bozzini sold 4,389 shares of the business’s stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $161.72, for a total transaction of $709,789.08. Following the completion of the transaction, the chief operating officer now directly owns 103,228 shares of the company’s stock, valued at approximately $16,694,032.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,548 shares of company stock valued at $20,795,439. Corporate insiders own 21.74% of the company’s stock.

Hedge Funds Weigh In On Workday

A number of large investors have recently bought and sold shares of the business. Voya Investment Management LLC raised its stake in Workday by 258.1% in the fourth quarter. Voya Investment Management LLC now owns 252,272 shares of the software maker’s stock worth $42,213,000 after buying an additional 181,826 shares in the last quarter. Natixis grew its holdings in Workday by 368.4% in the fourth quarter. Natixis now owns 24,035 shares of the software maker’s stock worth $4,022,000 after purchasing an additional 18,904 shares during the last quarter. Garde Capital Inc. purchased a new position in Workday in the fourth quarter worth $529,000. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Workday by 5.3% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 81,499 shares of the software maker’s stock valued at $13,636,000 after buying an additional 4,096 shares during the last quarter. Finally, Macquarie Group Ltd. grew its holdings in shares of Workday by 586.7% during the fourth quarter. Macquarie Group Ltd. now owns 535,226 shares of the software maker’s stock valued at $89,560,000 after buying an additional 457,285 shares during the last quarter. Institutional investors own 66.98% of the company’s stock.

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.