Workday (NASDAQ:WDAY) Price Target Raised to $310.00 at The Goldman Sachs Group

Workday (NASDAQ:WDAYFree Report) had its price objective upped by The Goldman Sachs Group from $300.00 to $310.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

A number of other brokerages have also issued reports on WDAY. Loop Capital dropped their target price on shares of Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Barclays dropped their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Piper Sandler reiterated a “neutral” rating and set a $270.00 price objective (down from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Citigroup lowered their target price on shares of Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Wells Fargo & Company lifted their price target on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $292.43.

Check Out Our Latest Stock Analysis on Workday

Workday Price Performance

NASDAQ WDAY opened at $277.82 on Thursday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a 50 day moving average price of $261.15 and a two-hundred day moving average price of $249.72. The stock has a market capitalization of $73.90 billion, a PE ratio of 46.07, a price-to-earnings-growth ratio of 4.73 and a beta of 1.35.

Workday (NASDAQ:WDAYGet Free Report) last posted its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the company earned $0.47 EPS. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, equities analysts predict that Workday will post 2.63 earnings per share for the current fiscal year.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the transaction, the insider now directly owns 284,000 shares of the company’s stock, valued at $78,188,040. This trade represents a 16.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the sale, the chief executive officer now owns 13,972 shares of the company’s stock, valued at $3,546,931.92. This trade represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Workday

A number of hedge funds and other institutional investors have recently made changes to their positions in WDAY. Marcum Wealth LLC increased its holdings in Workday by 4.4% during the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock worth $249,000 after purchasing an additional 41 shares in the last quarter. Custom Index Systems LLC boosted its position in shares of Workday by 3.0% during the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after buying an additional 41 shares during the period. Meeder Asset Management Inc. grew its holdings in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares in the last quarter. Kingsview Wealth Management LLC raised its position 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 buying an additional 43 shares during the last quarter. Finally, Opal Wealth Advisors LLC lifted its stake in Workday by 5.2% in the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock valued at $231,000 after acquiring an additional 47 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Workday (NASDAQ:WDAY)

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