Workday (NASDAQ:WDAY) Price Target Raised to $260.00

Workday (NASDAQ:WDAY) had its target price hoisted by Loop Capital from $242.00 to $260.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a hold rating on the software maker’s stock.

Other equities analysts have also recently issued research reports about the company. Piper Sandler reaffirmed a “neutral” rating and set a $270.00 target price (down previously from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Mizuho boosted their price target on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price target on shares of Workday in a research note on Thursday, February 6th. Redburn Atlantic initiated coverage on Workday in a research note on Wednesday. They issued a “neutral” rating for the company. Finally, Wells Fargo & Company boosted their price target on Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $291.11.

Workday Price Performance

NASDAQ WDAY opened at $256.39 on Wednesday. The stock’s 50-day moving average price is $260.75 and its two-hundred day moving average price is $252.87. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market cap of $68.20 billion, a PE ratio of 42.52, a PEG ratio of 3.56 and a beta of 1.35. Workday has a 1 year low of $199.81 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 EPS. On average, analysts predict that Workday will post 2.63 EPS for the current year.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total value of $15,692,670.00. Following the transaction, the insider now owns 284,000 shares of the company’s stock, valued at approximately $78,188,040. This represents a 16.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at $8,789,681.92. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Workday

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after purchasing an additional 4,517,272 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in Workday in the fourth quarter valued at approximately $658,735,000. Norges Bank bought a new position in Workday in the fourth quarter valued at approximately $645,710,000. Parnassus Investments LLC boosted its stake in shares of Workday by 562.2% during the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after acquiring an additional 2,078,097 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Workday by 61.9% during the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock worth $1,193,105,000 after acquiring an additional 1,772,223 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Company Profile

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.