Credit Suisse Group Increases Workday (WDAY) Price Target to $150.00

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Workday (NASDAQ:WDAY) had its price target hoisted by Credit Suisse Group from $120.00 to $150.00 in a report issued on Wednesday, The Fly reports. They currently have a neutral rating on the software maker’s stock.

A number of other research analysts have also recently commented on WDAY. Moffett Nathanson reissued a neutral rating on shares of Workday in a report on Friday, June 1st. Jefferies Financial Group boosted their price target on Workday to $141.00 and gave the stock a hold rating in a report on Wednesday. Canaccord Genuity boosted their price target on Workday from $145.00 to $175.00 and gave the stock a buy rating in a report on Wednesday. Morgan Stanley boosted their price target on Workday from $145.00 to $154.00 and gave the stock an overweight rating in a report on Wednesday. Finally, Wedbush reissued a neutral rating and issued a $124.00 price target (down from $152.00) on shares of Workday in a report on Wednesday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Workday currently has a consensus rating of Buy and a consensus price target of $145.31.

NASDAQ WDAY opened at $142.21 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.77 and a current ratio of 1.77. Workday has a 12 month low of $95.35 and a 12 month high of $157.12. The company has a market capitalization of $33.38 billion, a P/E ratio of -111.98 and a beta of 2.02.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, September 4th. The software maker reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.05. Workday had a negative return on equity of 14.60% and a negative net margin of 14.53%. The company had revenue of $671.70 million for the quarter, compared to analysts’ expectations of $663.38 million. During the same period in the previous year, the firm earned $0.24 EPS. The firm’s revenue was up 27.9% compared to the same quarter last year. equities analysts forecast that Workday will post -0.78 earnings per share for the current year.

In related news, CEO Aneel Bhusri sold 7,380 shares of the stock in a transaction on Monday, July 16th. The stock was sold at an average price of $133.38, for a total transaction of $984,344.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robynne Sisco sold 3,600 shares of the stock in a transaction on Monday, July 16th. The shares were sold at an average price of $133.31, for a total value of $479,916.00. The disclosure for this sale can be found here. Insiders have sold a total of 446,338 shares of company stock worth $57,004,552 in the last 90 days. 33.59% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Twin Tree Management LP raised its holdings in Workday by 112.5% during the 1st quarter. Twin Tree Management LP now owns 957 shares of the software maker’s stock valued at $122,000 after buying an additional 8,609 shares during the period. Northstar Capital Management LLC purchased a new stake in Workday during the 1st quarter valued at $133,000. Nisa Investment Advisors LLC grew its position in Workday by 55.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,400 shares of the software maker’s stock valued at $170,000 after acquiring an additional 500 shares during the last quarter. Cerebellum GP LLC bought a new position in Workday in the 2nd quarter valued at $183,000. Finally, Mirador Capital Partners LP bought a new position in Workday in the 2nd quarter valued at $200,000. Institutional investors own 67.96% of the company’s stock.

Workday Company Profile

Workday, Inc provides enterprise cloud applications for finance and human resources worldwide. It provides applications for customers to manage critical business functions to optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, employee expense and revenue management, projects, procurement, inventory, and grants management.

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