Wells Fargo & Company Boosts Workday (NASDAQ:WDAY) Price Target to $260.00

Posted by Stephan Byrd on May 26th, 2023

Workday (NASDAQ:WDAY – Get Rating) had its target price increased by Wells Fargo & Company from $250.00 to $260.00 in a report released on Friday, The Fly reports. Wells Fargo & Company‘s price target suggests a potential upside of 32.38% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Piper Sandler upped their price objective on shares of Workday from $184.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, February 28th. Jefferies Financial Group upped their price objective on shares of Workday from $235.00 to $250.00 in a research report on Friday. Oppenheimer upped their price objective on shares of Workday from $205.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, February 23rd. Credit Suisse Group reissued a “neutral” rating and issued a $195.00 price objective on shares of Workday in a research report on Wednesday, March 1st. Finally, OTR Global raised shares of Workday to a “positive” rating in a research report on Wednesday, February 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.64.

Workday Stock Up 0.1 %

Shares of Workday stock opened at $196.41 on Friday. The company has a fifty day moving average price of $186.71 and a 200 day moving average price of $188.11. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.53. Workday has a twelve month low of $128.72 and a twelve month high of $206.68. The stock has a market cap of $50.87 billion, a price-to-earnings ratio of -136.40, a price-to-earnings-growth ratio of 17.02 and a beta of 1.28.

Workday (NASDAQ:WDAY – Get Rating) last announced its quarterly earnings results on Thursday, May 25th. The software maker reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.19. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Workday had a negative net margin of 5.90% and a negative return on equity of 1.96%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.17) EPS. Equities research analysts forecast that Workday will post 0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In related news, CEO Aneel Bhusri sold 11,734 shares of the firm’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $196.37, for a total transaction of $2,304,205.58. Following the completion of the sale, the chief executive officer now directly owns 403,988 shares in the company, valued at $79,331,123.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Aneel Bhusri sold 11,734 shares of the firm’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $196.37, for a total transaction of $2,304,205.58. Following the completion of the sale, the chief executive officer now directly owns 403,988 shares in the company, valued at $79,331,123.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas A. Robinson sold 266 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $191.44, for a total transaction of $50,923.04. Following the sale, the insider now owns 129,802 shares of the company’s stock, valued at $24,849,294.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,469 shares of company stock worth $8,469,440. 21.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Workday

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WDAY. Atticus Wealth Management LLC acquired a new position in Workday in the 1st quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Workday in the 1st quarter worth approximately $25,000. Elequin Securities LLC acquired a new position in Workday in the 4th quarter worth approximately $27,000. Guardian Wealth Advisors LLC acquired a new position in Workday in the 3rd quarter worth approximately $29,000. Finally, West Oak Capital LLC acquired a new position in Workday in the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 66.98% of the company’s stock.

About Workday

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Workday, Inc engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management and analytics applications designed for companies, educational institutions and government agencies. The company was founded by David A.