Oppenheimer Raises Workday (NASDAQ:WDAY) Price Target to $320.00

Workday (NASDAQ:WDAY) had its price target lifted by equities researchers at Oppenheimer from $300.00 to $320.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Oppenheimer’s target price would suggest a potential upside of 25.38% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Loop Capital lifted their target price on Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, February 19th. Scotiabank started coverage on Workday in a report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price objective for the company. Morgan Stanley lowered Workday from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $330.00 to $275.00 in a research report on Wednesday, February 19th. BNP Paribas upgraded shares of Workday to a “strong-buy” rating in a report on Friday, February 14th. Finally, Piper Sandler upped their price target on Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.54.

Workday Trading Down 2.5 %

Shares of NASDAQ:WDAY opened at $255.22 on Wednesday. Workday has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market cap of $67.89 billion, a PE ratio of 42.33, a P/E/G ratio of 3.55 and a beta of 1.35. The company’s 50-day moving average price is $259.97 and its 200 day moving average price is $254.12.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. Sell-side analysts anticipate that Workday will post 2.63 earnings per share for the current year.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total value of $15,692,670.00. Following the transaction, the insider now owns 284,000 shares in the company, valued at $78,188,040. The trade was a 16.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the transaction, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock valued at $113,142,592 over the last quarter. 20.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WDAY. Roxbury Financial LLC acquired a new stake in Workday in the 4th quarter worth about $25,000. Capital Performance Advisors LLP acquired a new stake in shares of Workday during the 3rd quarter worth $26,000. Crews Bank & Trust purchased a new position in shares of Workday in the 4th quarter worth $26,000. Avion Wealth boosted its holdings in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its position in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Company Profile

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.