Workday's (WDAY) "Neutral" Rating Reaffirmed at Piper Sandler

Piper Sandler reiterated their neutral rating on shares of Workday (NASDAQ:WDAY - Free Report) in a report released on Friday, Marketbeat.com reports. They currently have a $255.00 price target on the software maker's stock, up from their previous price target of $230.00.

WDAY has been the topic of a number of other research reports. BNP Paribas upgraded shares of Workday to a "strong-buy" rating in a report on Friday, February 14th. JPMorgan Chase & Co. upped their price target on Workday from $285.00 to $310.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. UBS Group lifted their price objective on Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. The Goldman Sachs Group increased their target price on Workday from $310.00 to $345.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Finally, Canaccord Genuity Group raised their price target on shares of Workday from $300.00 to $330.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $293.54.

Workday Price Performance

Shares of WDAY stock traded up $0.09 during trading hours on Friday, hitting $239.39. 1,310,791 shares of the company's stock were exchanged, compared to its average volume of 2,547,153. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday has a 12-month low of $199.81 and a 12-month high of $294.00. The business's 50 day simple moving average is $242.06 and its 200-day simple moving average is $253.96. The company has a market capitalization of $63.68 billion, a PE ratio of 39.68, a PEG ratio of 3.55 and a beta of 1.30.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping the consensus estimate of $2.01 by $0.22. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the business posted $1.74 earnings per share. Workday's quarterly revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts anticipate that Workday will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of Workday stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the transaction, the insider now directly owns 111,324 shares of the company's stock, valued at $29,556,522. The trade was a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 66,455 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $259.52, for a total value of $17,246,401.60. Following the transaction, the insider now owns 102,997 shares of the company's stock, valued at $26,729,781.44. This trade represents a 39.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 321,724 shares of company stock valued at $77,976,126. 20.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WDAY. Simplicity Wealth LLC lifted its holdings in shares of Workday by 3.0% in the 4th quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker's stock worth $330,000 after buying an additional 37 shares during the period. Custom Index Systems LLC lifted its stake in Workday by 3.0% in the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker's stock worth $364,000 after acquiring an additional 41 shares during the period. AllSquare Wealth Management LLC grew its holdings in Workday by 19.4% during the 4th quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker's stock worth $65,000 after acquiring an additional 41 shares in the last quarter. Private Trust Co. NA increased its position in Workday by 15.2% during the 1st quarter. Private Trust Co. NA now owns 318 shares of the software maker's stock valued at $74,000 after purchasing an additional 42 shares during the period. Finally, CreativeOne Wealth LLC raised its holdings in shares of Workday by 1.5% in the 4th quarter. CreativeOne Wealth LLC now owns 2,889 shares of the software maker's stock valued at $745,000 after purchasing an additional 43 shares in the last quarter. 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.