Workday (NASDAQ:WDAY) Price Target Raised to $310.00

Workday (NASDAQ:WDAY) had its price objective boosted by Needham & Company LLC from $290.00 to $310.00 in a research report sent to investors on Wednesday morning, The Fly reports. They currently have a buy rating on the software maker’s stock.

A number of other brokerages have also issued reports on WDAY. KeyCorp lifted their price target on shares of Workday from $295.00 to $315.00 and gave the stock an overweight rating in a research note on Friday, August 27th. Oppenheimer restated a buy rating and issued a $285.00 price target (up previously from $265.00) on shares of Workday in a research note on Friday, August 27th. William Blair reiterated a buy rating on shares of Workday in a research note on Wednesday. BNP Paribas upgraded shares of Workday from a neutral rating to an outperform rating and set a $340.00 target price for the company in a research note on Thursday, September 9th. Finally, Piper Sandler boosted their target price on shares of Workday from $285.00 to $295.00 and gave the company an overweight rating in a research note on Friday, August 27th. Four investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $303.70.

NASDAQ WDAY opened at $268.43 on Wednesday. The company’s fifty day simple moving average is $250.47 and its 200-day simple moving average is $244.76. Workday has a 52 week low of $201.62 and a 52 week high of $282.77. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.17. The stock has a market cap of $66.57 billion, a P/E ratio of -1,491.19 and a beta of 1.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Wednesday, August 25th. The software maker reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.45. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.24 billion. Workday had a negative net margin of 0.79% and a positive return on equity of 3.49%. The business’s revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share. On average, research analysts expect that Workday will post 0.09 EPS for the current fiscal year.

In related news, Director David A. Duffield sold 274,565 shares of the company’s stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $273.19, for a total value of $75,008,412.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Aneel Bhusri sold 4,108 shares of the company’s stock in a transaction dated Thursday, July 15th. The shares were sold at an average price of $228.37, for a total transaction of $938,143.96. The disclosure for this sale can be found here. Insiders sold 299,105 shares of company stock valued at $80,910,048 in the last ninety days. Corporate insiders own 24.06% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bedel Financial Consulting Inc. lifted its holdings in Workday by 86.5% in the 2nd quarter. Bedel Financial Consulting Inc. now owns 138 shares of the software maker’s stock valued at $33,000 after acquiring an additional 64 shares during the last quarter. Cohen & Steers Inc. acquired a new stake in Workday during the 1st quarter worth about $37,000. Jacobi Capital Management LLC raised its holdings in Workday by 47.5% during the 1st quarter. Jacobi Capital Management LLC now owns 149 shares of the software maker’s stock worth $37,000 after buying an additional 48 shares during the period. Lloyd Advisory Services LLC. raised its holdings in Workday by 43.8% during the 2nd quarter. Lloyd Advisory Services LLC. now owns 161 shares of the software maker’s stock worth $38,000 after buying an additional 49 shares during the period. Finally, Allworth Financial LP acquired a new stake in Workday during the 2nd quarter worth about $45,000. 69.20% of the stock is owned by institutional investors.

About Workday

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.

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