Workday (NASDAQ:WDAY) PT Raised to $310.00

Workday (NASDAQ:WDAY) had its price objective boosted by Needham & Company LLC from $290.00 to $310.00 in a research note issued to investors on Wednesday, The Fly reports. They currently have a buy rating on the software maker’s stock.

A number of other analysts also recently issued reports on the company. Morgan Stanley lifted their target price on Workday from $305.00 to $310.00 and gave the company an overweight rating in a research report on Friday, August 27th. William Blair reissued a buy rating on shares of Workday in a research report on Wednesday. Piper Sandler boosted their price target on Workday from $285.00 to $295.00 and gave the stock an overweight rating in a research report on Friday, August 27th. KeyCorp boosted their price target on Workday from $295.00 to $315.00 and gave the stock an overweight rating in a research report on Friday, August 27th. Finally, Wolfe Research boosted their price target on Workday from $270.00 to $300.00 and gave the stock an outperform rating in a research report on Monday, August 30th. Four equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, Workday presently has an average rating of Buy and an average price target of $303.70.

NASDAQ:WDAY opened at $268.43 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.04 and a current ratio of 1.04. The stock’s 50-day simple moving average is $250.47 and its 200 day simple moving average is $244.75. The company has a market cap of $66.57 billion, a P/E ratio of -1,491.19 and a beta of 1.28. Workday has a 52-week low of $201.62 and a 52-week high of $282.77.

Workday (NASDAQ:WDAY) last released its earnings results on Wednesday, August 25th. The software maker reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.45. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.24 billion. Workday had a positive return on equity of 3.49% and a negative net margin of 0.79%. Workday’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 earnings per share. As a group, equities analysts predict that Workday will post 0.09 earnings per share for the current fiscal year.

In other Workday news, CEO Aneel Bhusri sold 4,108 shares of the company’s stock in a transaction on Thursday, July 15th. The stock was sold at an average price of $228.37, for a total transaction of $938,143.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David A. Duffield sold 274,565 shares of the company’s stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $273.19, for a total transaction of $75,008,412.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 299,105 shares of company stock valued at $80,910,048. 24.06% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of WDAY. Standard Life Aberdeen plc grew its holdings in Workday by 5.2% during the 1st quarter. Standard Life Aberdeen plc now owns 20,769 shares of the software maker’s stock worth $5,160,000 after acquiring an additional 1,028 shares during the period. Fifth Third Bancorp grew its holdings in Workday by 13.5% during the 1st quarter. Fifth Third Bancorp now owns 2,041 shares of the software maker’s stock worth $507,000 after acquiring an additional 242 shares during the period. Alps Advisors Inc. grew its holdings in Workday by 4.9% during the 1st quarter. Alps Advisors Inc. now owns 8,065 shares of the software maker’s stock worth $2,004,000 after acquiring an additional 380 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Workday by 1.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,993 shares of the software maker’s stock worth $3,476,000 after acquiring an additional 190 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in Workday by 2.6% during the 1st quarter. Advisors Asset Management Inc. now owns 6,827 shares of the software maker’s stock worth $1,696,000 after acquiring an additional 170 shares during the period. Hedge funds and other institutional investors own 69.20% of the company’s stock.

About Workday

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.

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