Workday (NASDAQ:WDAY) Price Target Raised to $310.00 at The Goldman Sachs Group

Workday (NASDAQ:WDAY) had its target price raised by The Goldman Sachs Group from $300.00 to $310.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 12.25% from the stock’s current price.

A number of other research firms also recently issued reports on WDAY. Piper Sandler reissued a “neutral” rating and issued a $270.00 price objective (down previously from $285.00) on shares of Workday in a report on Wednesday, November 27th. Royal Bank of Canada raised their target price on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Morgan Stanley raised their price objective on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and boosted their price target for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and an average target price of $292.43.

Workday Trading Up 6.3 %

Shares of WDAY stock opened at $276.17 on Thursday. Workday has a 12-month low of $199.81 and a 12-month high of $311.28. The firm has a 50 day moving average price of $261.15 and a two-hundred day moving average price of $249.72. 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 market capitalization of $73.46 billion, a PE ratio of 45.80, a price-to-earnings-growth ratio of 4.73 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 EPS. As a group, analysts predict that Workday will post 2.63 earnings per share for the current year.

Insider Activity at Workday

In other Workday news, insider Sayan Chakraborty sold 5,498 shares of the firm’s 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 sale, the insider now directly owns 121,100 shares in the company, valued at approximately $30,369,458. This trade represents a 4.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 approximately $14,785,200. The trade was a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock valued at $113,142,592 in the last three months. Company insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Several institutional investors have recently made changes to their positions in WDAY. Sanctuary Advisors LLC raised its holdings in shares of Workday by 7.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after acquiring an additional 1,978 shares in the last quarter. Grafton Street Partners Fund LP purchased a new stake in shares of Workday during the third quarter valued at $4,424,000. ICICI Prudential Asset Management Co Ltd increased its position in shares of Workday by 32.4% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after acquiring an additional 7,802 shares during the period. Nordea Investment Management AB raised its position in Workday by 20.5% during the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after purchasing an additional 119,769 shares in the last quarter. Finally, Atria Investments Inc grew its holdings in Workday by 19.3% during the 3rd quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock worth $10,833,000 after acquiring an additional 7,175 shares in the last quarter. Hedge funds and other 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.