Workday (NASDAQ:WDAY) Given New $305.00 Price Target at The Goldman Sachs Group

Workday (NASDAQ:WDAY) had its price objective boosted by equities researchers at The Goldman Sachs Group from $300.00 to $305.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 22.84% from the company’s current price.

Several other equities research analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. UBS Group decreased their price target on Workday from $280.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 24th. BMO Capital Markets reissued an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research note on Wednesday. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 target price on shares of Workday in a research note on Friday, May 24th. Finally, Citigroup lowered their target price on Workday from $293.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $286.48.

Workday Trading Up 0.3 %

NASDAQ WDAY opened at $248.29 on Thursday. The firm has a market capitalization of $65.80 billion, a PE ratio of 44.74, a price-to-earnings-growth ratio of 5.07 and a beta of 1.35. The business’s 50-day moving average price is $237.48 and its two-hundred day moving average price is $242.30. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday has a 12 month low of $199.81 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data 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 company 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%. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 earnings per share. On average, analysts expect that Workday will post 2.39 EPS for the current year.

Insider Activity

In related news, major shareholder David A. Duffield sold 66,492 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,902,816.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $26,902,816.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 78,279 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $223.89, for a total value of $17,525,885.31. Following the completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $23,059,998.33. The disclosure for this sale can be found here. Insiders have sold 467,402 shares of company stock worth $109,864,184 over the last 90 days. 20.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Workday

Several hedge funds have recently added to or reduced their stakes in WDAY. Crewe Advisors LLC bought a new stake in shares of Workday in the 1st quarter worth approximately $27,000. Sound Income Strategies LLC raised its stake in shares of Workday by 74.2% in the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after buying an additional 49 shares during the period. SouthState Corp lifted its position in shares of Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after buying an additional 129 shares during the last quarter. Goodman Advisory Group LLC bought a new position in shares of Workday during the 2nd quarter worth $35,000. Finally, Asset Dedication LLC purchased a new stake in Workday in the 2nd quarter worth about $36,000. Institutional investors own 89.81% of the company’s stock.

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.