Workday (NASDAQ:WDAY) Given New $220.00 Price Target at Piper Sandler

Key Points

• Piper Sandler has lowered its price target for Workday from $235.00 to $220.00, maintaining an "underweight" rating on the stock.
• Workday reported a quarterly earnings per share (EPS) of $2.21, beating expectations of $2.09, with revenue of $2.35 billion, a 12.6% increase year-over-year.
• Institutional investors own 89.81% of Workday's stock, with several hedge funds increasing their positions in the first quarter.

Workday (NASDAQ:WDAY - Get Free Report) had its target price lowered by stock analysts at Piper Sandler from $235.00 to $220.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "underweight" rating on the software maker's stock. Piper Sandler's target price indicates a potential upside of 2.99% from the stock's previous close.

A number of other research firms have also commented on WDAY. Citigroup lowered Workday from a "neutral" rating to a "mixed" rating in a research report on Friday, May 16th. JMP Securities reiterated a "market outperform" rating and issued a $315.00 price objective on shares of Workday in a research report on Friday, May 23rd. Guggenheim reiterated a "neutral" rating on shares of Workday in a research report on Friday. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $340.00 price objective on shares of Workday in a research note on Friday. Finally, Stifel Nicolaus dropped their price objective on Workday from $275.00 to $255.00 and set a "hold" rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $285.36.

Workday Trading Down 6.1%

Workday stock opened at $213.6060 on Friday. The business has a 50 day moving average price of $232.85 and a two-hundred day moving average price of $242.98. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.33. The stock has a market cap of $57.03 billion, a price-to-earnings ratio of 119.34, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. Workday has a 12 month low of $205.33 and a 12 month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings data on Thursday, August 21st. The software maker reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.12. Workday had a return on equity of 8.00% and a net margin of 5.60%.The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period in the prior year, the company posted $1.75 EPS. The company's revenue was up 12.6% compared to the same quarter last year. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, equities analysts forecast that Workday will post 2.63 EPS for the current year.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 73,971 shares of Workday stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $238.66, for a total transaction of $17,653,918.86. Following the completion of the transaction, the insider owned 102,997 shares in the company, valued at approximately $24,581,264.02. This trade represents a 41.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the sale, the director owned 67,500 shares of the company's stock, valued at $16,767,675. This trade represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 329,005 shares of company stock valued at $79,203,523 in the last three months. Corporate insiders own 19.31% of the company's stock.

Institutional Investors Weigh In On Workday

Hedge funds and other institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its position in Workday by 5.0% during the first quarter. Janney Montgomery Scott LLC now owns 22,645 shares of the software maker's stock valued at $5,288,000 after purchasing an additional 1,070 shares in the last quarter. Kingswood Wealth Advisors LLC raised its position in Workday by 13.9% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,136 shares of the software maker's stock valued at $265,000 after purchasing an additional 139 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Workday by 33.8% during the first quarter. Nisa Investment Advisors LLC now owns 32,055 shares of the software maker's stock valued at $7,486,000 after purchasing an additional 8,093 shares in the last quarter. Sowell Financial Services LLC acquired a new position in Workday during the first quarter valued at approximately $290,000. Finally, D.A. Davidson & CO. raised its position in Workday by 27.8% during the first quarter. D.A. Davidson & CO. now owns 1,601 shares of the software maker's stock valued at $374,000 after purchasing an additional 348 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

About Workday

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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