Workday (NASDAQ:WDAY) Given “Neutral” Rating at Piper Sandler

Workday (NASDAQ:WDAY)‘s stock had its “neutral” rating restated by research analysts at Piper Sandler in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $270.00 target price on the software maker’s stock, down from their prior target price of $285.00. Piper Sandler’s target price would suggest a potential downside of 0.07% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Stifel Nicolaus boosted their price target on Workday from $250.00 to $270.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Wells Fargo & Company boosted their target price on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Evercore ISI reduced their price target on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Bank of America boosted their price objective on shares of Workday from $265.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, The Goldman Sachs Group upped their target price on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average target price of $288.93.

Workday Stock Performance

Workday stock opened at $270.19 on Wednesday. Workday has a 52 week low of $199.81 and a 52 week high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $71.60 billion, a P/E ratio of 47.07, a price-to-earnings-growth ratio of 5.31 and a beta of 1.35. The stock has a 50 day moving average of $248.52 and a 200-day moving average of $237.21.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data 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. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period last year, the business earned $0.47 EPS. On average, analysts expect that Workday will post 2.4 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total value of $738,934.52. Following the transaction, the insider now directly owns 85,795 shares of the company’s stock, valued at $20,228,745.10. This trade represents a 3.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Wayne A.I. Frederick sold 1,828 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the sale, the director now owns 8,674 shares of the company’s stock, valued at approximately $2,097,806.90. This trade represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 359,954 shares of company stock worth $88,742,132 in the last three months. 20.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Workday

A number of large investors have recently made changes to their positions in WDAY. Capital Performance Advisors LLP acquired a new stake in shares of Workday during the third quarter worth approximately $26,000. SouthState Corp lifted its position in Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after buying an additional 129 shares in the last quarter. Crewe Advisors LLC lifted its position in Workday by 56.6% in the 2nd quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock worth $35,000 after buying an additional 56 shares in the last quarter. Goodman Advisory Group LLC acquired a new stake in shares of Workday during the 2nd quarter valued at $35,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 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.