Workday (NASDAQ:WDAY - Get Free Report) had its target price decreased by Bank of America from $275.00 to $265.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a "buy" rating on the software maker's stock. Bank of America's price target would suggest a potential upside of 14.44% from the stock's current price.
Other equities research analysts have also issued reports about the company. Needham & Company LLC reiterated a "buy" rating and issued a $350.00 price objective on shares of Workday in a research report on Friday, May 24th. Royal Bank of Canada dropped their price target on Workday from $310.00 to $300.00 and set an "outperform" rating on the stock in a research report on Friday, May 24th. Robert W. Baird dropped their price target on Workday from $316.00 to $265.00 and set an "outperform" rating on the stock in a research report on Friday, May 24th. JMP Securities restated a "market outperform" rating and set a $315.00 price target on shares of Workday in a research report on Friday, May 24th. Finally, Loop Capital dropped their price target on Workday from $280.00 to $240.00 and set a "hold" rating on the stock in a research report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $279.22.
Check Out Our Latest Stock Analysis on WDAY
Workday Trading Up 3.9 %
WDAY traded up $8.72 on Thursday, hitting $231.56. 2,747,664 shares of the company were exchanged, compared to its average volume of 2,167,748. The firm has a fifty day simple moving average of $220.36 and a two-hundred day simple moving average of $250.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.00 and a current ratio of 2.00. Workday has a 12 month low of $199.81 and a 12 month high of $311.28. The stock has a market capitalization of $61.36 billion, a PE ratio of 41.60, a price-to-earnings-growth ratio of 5.34 and a beta of 1.35.
Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.20. Workday had a return on equity of 5.78% and a net margin of 19.66%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the company earned $0.16 EPS. Workday's revenue for the quarter was up 18.1% compared to the same quarter last year. Sell-side analysts expect that Workday will post 2.12 earnings per share for the current year.
Insider Transactions at Workday
In related news, major shareholder David A. Duffield sold 82,762 shares of the business's stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $210.28, for a total value of $17,403,193.36. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $21,658,209.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder David A. Duffield sold 82,762 shares of the business's stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $210.28, for a total value of $17,403,193.36. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $21,658,209.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder David A. Duffield sold 78,279 shares of the business's stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $223.89, for a total value of $17,525,885.31. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at $23,059,998.33. The disclosure for this sale can be found here. Insiders sold a total of 524,672 shares of company stock valued at $115,938,834 over the last 90 days. Company insiders own 20.00% of the company's stock.
Institutional Investors Weigh In On Workday
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WDAY. Crewe Advisors LLC purchased a new stake in Workday during the first quarter valued at approximately $27,000. Sound Income Strategies LLC raised its position in Workday by 74.2% during the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker's stock valued at $31,000 after purchasing an additional 49 shares during the period. SouthState Corp raised its position in Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker's stock valued at $34,000 after purchasing an additional 129 shares during the period. Asset Dedication LLC purchased a new stake in Workday during the second quarter valued at approximately $36,000. Finally, PSI Advisors LLC purchased a new stake in shares of Workday in the second quarter worth approximately $38,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.
Workday Company Profile
(Get Free Report)
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.
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