Mizuho Issues Positive Forecast for Workday (NASDAQ:WDAY) Stock Price

Workday (NASDAQ:WDAY) had its price target upped by Mizuho from $280.00 to $320.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the software maker’s stock.

Several other equities analysts have also recently commented on WDAY. Bank of America lowered their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 target price on shares of Workday in a research report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft lifted their price target on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, August 23rd. KeyCorp increased their price objective on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Evercore ISI cut their price objective on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. One 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $290.64.

Workday Stock Performance

Shares of WDAY opened at $273.67 on Friday. Workday has a one year low of $199.81 and a one year high of $311.28. The company has a 50-day moving average of $253.74 and a two-hundred day moving average of $238.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The stock has a market cap of $72.80 billion, a price-to-earnings ratio of 45.38, a PEG ratio of 5.06 and a beta of 1.34.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company’s revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the business posted $0.47 EPS. On average, equities research analysts expect that Workday will post 2.58 earnings per share for the current year.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total value of $14,112,630.00. Following the completion of the transaction, the insider now directly owns 505,000 shares in the company, valued at approximately $125,032,950. The trade was a 10.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sayan Chakraborty sold 5,498 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the sale, the insider now owns 121,100 shares in the company, valued at $30,369,458. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 361,463 shares of company stock valued at $88,422,088 over the last three months. 20.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Workday

Several institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. grew its holdings in shares of Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in Workday by 0.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock valued at $1,243,000 after acquiring an additional 43 shares in the last quarter. Opal Wealth Advisors LLC grew its holdings in shares of Workday by 5.2% during the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after purchasing an additional 47 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its stake in Workday by 3.4% in the second quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock valued at $324,000 after purchasing an additional 48 shares in the last quarter. Finally, Aspen Investment Management Inc grew its stake in Workday by 3.1% during the second quarter. Aspen Investment Management Inc now owns 1,650 shares of the software maker’s stock worth $369,000 after buying an additional 50 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

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.