Workday (NASDAQ:WDAY) Given New $290.00 Price Target at Piper Sandler

Workday (NASDAQ:WDAY) had its price objective lifted by stock analysts at Piper Sandler from $270.00 to $290.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. Piper Sandler’s price objective suggests a potential upside of 13.63% from the company’s previous close.

A number of other equities analysts have also recently commented on the stock. Redburn Atlantic began coverage on shares of Workday in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. Royal Bank of Canada increased their target price on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Loop Capital boosted their price target on Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley cut Workday from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $330.00 to $275.00 in a research report on Wednesday, February 19th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and a consensus price target of $291.82.

Workday Trading Down 2.5 %

Workday stock opened at $255.22 on Wednesday. The company has a market cap of $67.89 billion, a price-to-earnings ratio of 42.33, a P/E/G ratio of 3.55 and a beta of 1.35. Workday has a one year low of $199.81 and a one year high of $311.28. The firm has a 50-day moving average of $259.97 and a 200-day moving average of $254.12. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates 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 fiscal year.

Insider Buying and Selling

In other Workday news, insider Sayan Chakraborty sold 5,498 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the sale, the insider now owns 121,100 shares of the company’s stock, valued at approximately $30,369,458. This trade represents a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the sale, 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 sold a total of 438,819 shares of company stock valued at $113,142,592 in the last three months. Insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Simplicity Wealth LLC boosted its holdings in Workday by 3.0% during the fourth quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock worth $330,000 after purchasing an additional 37 shares during the last quarter. Marcum Wealth LLC lifted its position in shares of Workday by 4.4% during the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after buying an additional 41 shares during the last quarter. Custom Index Systems LLC increased its holdings in Workday by 3.0% in the 4th quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after acquiring an additional 41 shares during the last quarter. AllSquare Wealth Management LLC lifted its holdings in Workday by 19.4% during the fourth quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock valued at $65,000 after purchasing an additional 41 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares during the period. 89.81% of the stock is owned by institutional investors.

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.