Workday’s (WDAY) “Neutral” Rating Reiterated at Piper Sandler

Workday (NASDAQ:WDAY)‘s stock had its “neutral” rating restated by analysts at Piper Sandler in a report released on Friday, Marketbeat.com reports. They presently have a $255.00 price objective on the software maker’s stock, up from their previous price objective of $230.00. Piper Sandler’s price target indicates a potential upside of 7.14% from the stock’s current price.

WDAY has been the subject of several other reports. JPMorgan Chase & Co. increased their price target on Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Canaccord Genuity Group increased their price target on Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Daiwa America upgraded Workday to a “strong-buy” rating in a report on Tuesday, March 4th. KeyCorp increased their price target on Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, DA Davidson lowered their price target on Workday from $270.00 to $230.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Nine analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $293.54.

Workday Trading Down 12.5%

NASDAQ WDAY opened at $238.01 on Friday. The stock has a 50-day simple moving average of $242.57 and a 200 day simple moving average of $254.19. The company has a market capitalization of $63.31 billion, a PE ratio of 39.47, a P/E/G ratio of 3.55 and a beta of 1.30. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday has a 12 month low of $199.81 and a 12 month high of $294.00.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.22. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.74 earnings per share. Research analysts forecast that Workday will post 2.63 EPS for the current year.

Insider Buying and Selling

In other news, insider Sayan Chakraborty sold 6,056 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the transaction, the insider now owns 111,324 shares of the company’s stock, valued at approximately $29,556,522. The trade was a 5.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 497 shares of the business’s stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total value of $112,595.35. Following the transaction, the chief accounting officer now directly owns 34,385 shares of the company’s stock, valued at $7,789,921.75. This trade represents a 1.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 321,724 shares of company stock valued at $77,976,126. Insiders own 19.31% of the company’s stock.

Hedge Funds Weigh In On Workday

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its stake in shares of Workday by 211.7% in the first quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock valued at $44,000 after buying an additional 127 shares during the period. Focus Partners Wealth increased its stake in shares of Workday by 6.6% in the first quarter. Focus Partners Wealth now owns 186,096 shares of the software maker’s stock valued at $43,459,000 after buying an additional 11,492 shares during the period. Anchor Investment Management LLC increased its stake in shares of Workday by 3.5% in the first quarter. Anchor Investment Management LLC now owns 7,255 shares of the software maker’s stock valued at $1,694,000 after buying an additional 245 shares during the period. SCS Capital Management LLC acquired a new stake in shares of Workday in the first quarter valued at about $2,756,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Workday by 2.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,245,249 shares of the software maker’s stock valued at $524,333,000 after purchasing an additional 54,079 shares in the last quarter. Institutional investors and hedge funds 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.