Workday’s (WDAY) “Overweight” Rating Reaffirmed at Piper Sandler

Workday (NASDAQ:WDAY)‘s stock had its “overweight” rating reiterated by stock analysts at Piper Sandler in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $285.00 price objective on the software maker’s stock. Piper Sandler’s price target indicates a potential upside of 14.86% from the stock’s previous close.

WDAY has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft increased their price target on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Royal Bank of Canada dropped their target price on shares of Workday from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Citigroup lowered their price target on shares of Workday from $293.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Robert W. Baird decreased their price objective on Workday from $316.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Finally, Mizuho dropped their target price on Workday from $325.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $286.30.

Workday Trading Down 0.4 %

Shares of WDAY opened at $248.12 on Wednesday. The stock’s 50-day moving average price is $236.20 and its 200 day moving average price is $242.39. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday has a 12-month low of $199.81 and a 12-month high of $311.28. The firm has a market capitalization of $65.75 billion, a price-to-earnings ratio of 44.71, a P/E/G ratio of 5.07 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the firm posted $0.40 earnings per share. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. As a group, research analysts predict that Workday will post 2.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,902,816.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the sale, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $255.45, for a total value of $1,915,875.00. Following the transaction, the director now owns 90,000 shares in the company, valued at approximately $22,990,500. The disclosure for this sale can be found here. In the last 90 days, insiders sold 466,402 shares of company stock worth $107,992,034. Corporate insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

A number of institutional investors have recently bought and sold shares of the business. Crewe Advisors LLC acquired a new stake in shares of Workday in the first quarter valued at approximately $27,000. Sound Income Strategies LLC lifted its position in shares of Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after acquiring an additional 49 shares during the period. SouthState Corp lifted its position in shares of Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after acquiring an additional 129 shares during the period. Goodman Advisory Group LLC bought a new position in shares of Workday in the second quarter worth $35,000. Finally, Asset Dedication LLC bought a new stake in Workday during the second quarter worth about $36,000. Institutional investors own 89.81% of the company’s stock.

About Workday

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.