Workday (NASDAQ:WDAY) Receives “Neutral” Rating from Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of Workday (NASDAQ:WDAY) in a report released on Wednesday morning, MarketBeat reports. Piper Sandler currently has a $270.00 target price on the software maker’s stock, down from their prior target price of $285.00.

A number of other research analysts also recently issued reports on the company. Evercore ISI lowered their price target on Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Wells Fargo & Company upped their target price on shares of Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Loop Capital increased their target price on Workday from $255.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Citigroup decreased their target price on shares of Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Finally, BMO Capital Markets restated an “outperform” rating and set a $300.00 price objective on shares of Workday in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and a consensus target price of $288.14.

Workday Trading Down 6.2 %

Shares of WDAY opened at $253.40 on Wednesday. Workday has a 1-year low of $199.81 and a 1-year high of $311.28. The firm’s 50-day moving average price is $248.62 and its 200-day moving average price is $237.33. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $67.15 billion, a price-to-earnings ratio of 44.15, a PEG ratio of 5.31 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the business earned $0.47 earnings per share. The business’s revenue was up 15.8% on a year-over-year basis. Sell-side analysts anticipate that Workday will post 2.4 EPS for the current year.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $26,902,816.40. The trade was a 39.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the transaction, the director now owns 90,000 shares of the company’s stock, valued at approximately $22,990,500. The trade was a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 359,954 shares of company stock valued at $88,742,132 in the last quarter. 20.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Workday

Several hedge funds have recently bought and sold shares of WDAY. Peapack Gladstone Financial Corp boosted its stake in shares of Workday by 21.3% during the third quarter. Peapack Gladstone Financial Corp now owns 2,280 shares of the software maker’s stock valued at $557,000 after acquiring an additional 401 shares during the last quarter. Synovus Financial Corp boosted its stake in shares of Workday by 5.7% during the 3rd quarter. Synovus Financial Corp now owns 19,590 shares of the software maker’s stock worth $4,788,000 after purchasing an additional 1,051 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Workday by 43.8% during the third quarter. Tidal Investments LLC now owns 13,546 shares of the software maker’s stock worth $3,311,000 after buying an additional 4,128 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Workday in the third quarter valued at approximately $4,893,000. Finally, Sanctuary Advisors LLC raised its holdings in Workday by 7.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock valued at $7,934,000 after acquiring an additional 1,978 shares during the last quarter. Hedge funds and other 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.