Workday (NASDAQ:WDAY) Price Target Raised to $290.00 at Piper Sandler

Workday (NASDAQ:WDAY) had its price objective hoisted by Piper Sandler from $270.00 to $290.00 in a report issued on Wednesday,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

Several other brokerages have also commented on WDAY. Redburn Atlantic assumed coverage on shares of Workday in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and increased their target price for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. Citigroup reduced their price target on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Loop Capital upped their price target on Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $300.00 price objective on shares of Workday in a research note on Thursday, February 6th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $301.11.

Workday Price Performance

WDAY opened at $271.09 on Wednesday. The stock has a fifty day moving average price of $260.01 and a 200 day moving average price of $254.24. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday has a 1 year low of $199.81 and a 1 year high of $298.50. The stock has a market cap of $72.11 billion, a price-to-earnings ratio of 44.96, a PEG ratio of 3.55 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Analysts forecast that Workday will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Sayan Chakraborty sold 5,498 shares of Workday stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the transaction, the insider now directly owns 121,100 shares of the company’s stock, valued at $30,369,458. This trade represents a 4.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the sale, the insider now directly owns 284,000 shares in the company, valued at $78,188,040. This represents a 16.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock worth $113,142,592 in the last 90 days. 20.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Crews Bank & Trust acquired a new stake in Workday during the 4th quarter valued at $26,000. Roxbury Financial LLC bought a new stake in shares of Workday during the fourth quarter worth $25,000. Avion Wealth increased its stake in shares of Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after buying an additional 86 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Workday in the third quarter valued at about $26,000. Finally, TCTC Holdings LLC acquired a new position in Workday during the 4th quarter worth about $35,000. 89.81% of the stock is owned by institutional investors and hedge funds.

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.