Workday (NASDAQ:WDAY) PT Lowered to $262.00 at Piper Sandler

Workday (NASDAQ:WDAY) had its price target decreased by stock analysts at Piper Sandler from $280.00 to $262.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the software maker’s stock. Piper Sandler’s price objective would suggest a potential upside of 15.52% from the stock’s previous close.

Other analysts have also issued reports about the stock. JMP Securities reissued a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research report on Friday, May 24th. Guggenheim restated a “sell” rating and issued a $190.00 price objective on shares of Workday in a research note on Tuesday, June 25th. KeyCorp reduced their price objective on shares of Workday from $330.00 to $275.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. Loop Capital dropped their target price on shares of Workday from $280.00 to $240.00 and set a “hold” rating on the stock in a research report on Friday, May 24th. Finally, Bank of America lowered their price target on shares of Workday from $330.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $281.44.

Workday Stock Performance

NASDAQ:WDAY opened at $226.81 on Friday. Workday has a twelve month low of $202.01 and a twelve month high of $311.28. The company has a 50-day moving average of $227.91 and a 200-day moving average of $260.41. The firm has a market cap of $60.10 billion, a price-to-earnings ratio of 40.87, a price-to-earnings-growth ratio of 5.62 and a beta of 1.35. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, topping the consensus estimate of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 5.78%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period last year, the company posted $0.16 earnings per share. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. Analysts forecast that Workday will post 2.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 76,376 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $226.74, for a total transaction of $17,317,494.24. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $23,353,539.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $226.67, for a total transaction of $710,383.78. Following the completion of the transaction, the insider now directly owns 92,014 shares of the company’s stock, valued at approximately $20,856,813.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 76,376 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $226.74, for a total transaction of $17,317,494.24. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $23,353,539.78. The disclosure for this sale can be found here. In the last three months, insiders sold 468,672 shares of company stock valued at $103,096,914. 20.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Workday

Several large investors have recently made changes to their positions in the stock. BDF Gestion acquired a new stake in Workday during the 2nd quarter valued at $2,101,000. Csenge Advisory Group lifted its holdings in Workday by 10.9% during the 2nd quarter. Csenge Advisory Group now owns 1,192 shares of the software maker’s stock valued at $266,000 after purchasing an additional 117 shares during the last quarter. Simplicity Wealth LLC lifted its holdings in Workday by 24.6% during the 2nd quarter. Simplicity Wealth LLC now owns 4,156 shares of the software maker’s stock valued at $929,000 after purchasing an additional 821 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in Workday by 28.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,227 shares of the software maker’s stock valued at $274,000 after purchasing an additional 269 shares during the last quarter. Finally, NBC Securities Inc. lifted its holdings in Workday by 28.0% during the 2nd quarter. NBC Securities Inc. now owns 7,636 shares of the software maker’s stock valued at $1,707,000 after purchasing an additional 1,672 shares during the last quarter. Institutional investors and hedge funds 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.