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

Workday (NASDAQ:WDAY)‘s stock had its “overweight” rating restated by research 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 would suggest a potential upside of 14.86% from the company’s previous close.

Several other brokerages have also weighed in on WDAY. Bank of America increased their price objective on Workday from $265.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Evercore ISI decreased their price objective on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. TD Cowen dropped their price objective on shares of Workday from $330.00 to $290.00 and set a “buy” rating on the stock in a report on Friday, May 24th. UBS Group cut their target price on shares of Workday from $280.00 to $255.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. Finally, Sanford C. Bernstein lowered their price target on shares of Workday from $321.00 to $301.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $286.30.

Workday Trading Down 0.4 %

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

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

Insider Buying and Selling

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the completion of the transaction, the director now owns 90,000 shares of the company’s stock, valued at approximately $22,990,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Workday news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the sale, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $22,990,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 78,279 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the sale, the insider now owns 102,997 shares in the company, valued at approximately $23,059,998.33. The disclosure for this sale can be found here. Insiders have sold 466,402 shares of company stock valued at $107,992,034 over the last ninety days. 20.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Workday

Several large investors have recently modified their holdings of the stock. Carolinas Wealth Consulting LLC increased its stake in Workday by 9.7% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock valued at $106,000 after purchasing an additional 34 shares in the last quarter. Congress Wealth Management LLC DE raised its holdings in Workday by 2.4% in the 4th quarter. Congress Wealth Management LLC DE now owns 1,658 shares of the software maker’s stock worth $458,000 after acquiring an additional 39 shares during the last quarter. Raleigh Capital Management Inc. lifted its position in Workday by 4.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 869 shares of the software maker’s stock valued at $240,000 after acquiring an additional 39 shares in the last quarter. Hudson Value Partners LLC boosted its stake in Workday by 0.8% during the 4th quarter. Hudson Value Partners LLC now owns 5,135 shares of the software maker’s stock valued at $1,418,000 after purchasing an additional 40 shares during the last quarter. Finally, D.A. Davidson & CO. increased its holdings in shares of Workday by 3.5% in the 4th quarter. D.A. Davidson & CO. now owns 1,241 shares of the software maker’s stock worth $343,000 after purchasing an additional 42 shares in the last quarter. Hedge funds and other 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.