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

Piper Sandler reiterated their neutral rating on shares of Workday (NASDAQ:WDAY - Free Report) in a research note issued to investors on Friday morning, MarketBeat.com reports. They currently have a $255.00 price objective on the software maker's stock, up from their previous price objective of $230.00.

WDAY has been the topic of a number of other research reports. Jefferies Financial Group decreased their target price on Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Royal Bank of Canada lifted their target price on shares of Workday from $320.00 to $340.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Stifel Nicolaus raised their price objective on Workday from $270.00 to $310.00 and gave the stock a "hold" rating in a research report on Wednesday, February 26th. KeyCorp boosted their price objective on Workday from $305.00 to $335.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Finally, Redburn Atlantic began coverage on shares of Workday in a research report on Wednesday, February 19th. They issued a "neutral" rating for the company. Nine investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Workday has a consensus rating of "Moderate Buy" and a consensus price target of $293.54.

Workday Trading Up 0.5%

NASDAQ:WDAY traded up $1.29 during midday trading on Friday, hitting $239.30. The stock had a trading volume of 4,737,256 shares, compared to its average volume of 2,551,878. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average of $242.28 and a 200 day moving average of $254.06. The company has a market capitalization of $63.65 billion, a price-to-earnings ratio of 39.68, a PEG ratio of 3.55 and a beta of 1.30. Workday has a one year low of $199.81 and a one year high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $2.01 by $0.22. The firm had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.22 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business's quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.74 EPS. As a group, sell-side analysts forecast that Workday will post 2.63 EPS for the current year.

Insider Buying and Selling

In other news, CAO Mark S. Garfield sold 497 shares of the firm's stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total transaction of $112,595.35. Following the completion of the transaction, the chief accounting officer now directly owns 34,385 shares of the company's stock, valued at $7,789,921.75. This trade represents a 1.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 81,275 shares of the stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total value of $17,448,117.00. Following the transaction, the insider now directly owns 102,997 shares of the company's stock, valued at $22,111,395.96. This trade represents a 44.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 321,724 shares of company stock valued at $77,976,126. 19.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Workday

Hedge funds have recently bought and sold shares of the business. Bristlecone Advisors LLC boosted its holdings in shares of Workday by 49.6% during the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock valued at $754,000 after acquiring an additional 968 shares in the last quarter. Burns Matteson Capital Management LLC bought a new stake in Workday during the fourth quarter worth $369,000. Smith Group Asset Management LLC lifted its stake in Workday by 9.4% in the fourth quarter. Smith Group Asset Management LLC now owns 109,013 shares of the software maker's stock valued at $28,129,000 after purchasing an additional 9,324 shares during the last quarter. Swedbank AB grew its stake in Workday by 17.7% in the 4th quarter. Swedbank AB now owns 97,529 shares of the software maker's stock valued at $25,165,000 after buying an additional 14,682 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in Workday during the fourth quarter worth about $8,984,000. 89.81% of the stock is owned by institutional investors.

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.