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

Workday (NASDAQ:WDAY) had its target price hoisted by stock analysts at Piper Sandler from $270.00 to $290.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the software maker’s stock. Piper Sandler’s price target suggests a potential upside of 13.63% from the company’s current price.

WDAY has been the topic of several other reports. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and lifted their price target for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. Morgan Stanley downgraded Workday from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $330.00 to $275.00 in a report on Wednesday, February 19th. Scotiabank began coverage on shares of Workday in a research note on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price objective for the company. Barclays dropped their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Finally, BNP Paribas upgraded shares of Workday to a “strong-buy” rating in a research report on Friday, February 14th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $291.82.

Workday Trading Down 2.5 %

Workday stock opened at $255.22 on Wednesday. Workday has a 1 year low of $199.81 and a 1 year high of $311.28. The firm’s 50-day moving average is $259.97 and its 200-day moving average is $254.12. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The company has a market cap of $67.89 billion, a P/E ratio of 42.33, 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 return on equity of 6.13% and a net margin of 19.86%. On average, equities analysts expect that Workday will post 2.63 earnings per share for the current year.

Insider Activity at Workday

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were 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 in the company, valued at approximately $3,546,931.92. This trade represents a 30.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the completion of the transaction, the insider now owns 60,000 shares of the company’s stock, valued at $14,785,200. This trade represents a 48.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 438,819 shares of company stock valued at $113,142,592 in the last 90 days. 20.00% of the stock is owned by corporate insiders.

Institutional Trading of Workday

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