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

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

Other research analysts have also issued reports about the stock. Royal Bank of Canada lifted their price objective on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Bank of America lowered their target price on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Loop Capital boosted their target price on shares of Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, February 19th. Wells Fargo & Company boosted their target price on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, Citigroup lowered their target price on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $302.14.

Workday Stock Up 1.1 %

NASDAQ WDAY opened at $263.34 on Wednesday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a fifty day moving average of $259.69 and a two-hundred day moving average of $254.65. The firm has a market capitalization of $70.05 billion, a price-to-earnings ratio of 43.67, a PEG ratio of 3.55 and a beta of 1.35. Workday has a 52 week low of $199.81 and a 52 week high of $296.44.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. On average, analysts predict that Workday will post 2.63 earnings per share for the current year.

Insider Activity

In other news, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the transaction, the chief executive officer now owns 13,972 shares in the company, valued at approximately $3,546,931.92. This trade represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 433,321 shares of company stock worth $111,763,803 over the last 90 days. 20.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Workday

Several hedge funds and other institutional investors have recently bought and sold shares of WDAY. Hennion & Walsh Asset Management Inc. increased its holdings in Workday by 28.4% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 1,479 shares of the software maker’s stock worth $361,000 after buying an additional 327 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Workday by 1,265.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 44,081 shares of the software maker’s stock worth $10,774,000 after buying an additional 40,853 shares during the period. Pallas Capital Advisors LLC increased its holdings in Workday by 20.8% in the 3rd quarter. Pallas Capital Advisors LLC now owns 4,560 shares of the software maker’s stock worth $1,080,000 after buying an additional 786 shares during the period. abrdn plc boosted its position in Workday by 16.3% in the 3rd quarter. abrdn plc now owns 279,856 shares of the software maker’s stock worth $68,400,000 after purchasing an additional 39,289 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its position in Workday by 713.6% in the 3rd quarter. Fortitude Family Office LLC now owns 179 shares of the software maker’s stock worth $44,000 after purchasing an additional 157 shares in the last quarter. 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.