Workday (NASDAQ:WDAY) Given New $300.00 Price Target at Needham & Company LLC

Workday (NASDAQ:WDAY) had its price objective decreased by Needham & Company LLC from $350.00 to $300.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price objective suggests a potential upside of 20.91% from the stock’s current price.

Several other brokerages have also issued reports on WDAY. DA Davidson lifted their target price on shares of Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Robert W. Baird cut their price objective on Workday from $316.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. KeyCorp boosted their price objective on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Loop Capital raised their price target on Workday from $240.00 to $255.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Piper Sandler boosted their price objective on shares of Workday from $262.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $286.30.

Workday Trading Down 0.4 %

Shares of Workday stock opened at $248.12 on Wednesday. The firm’s 50 day moving average is $236.20 and its 200 day moving average is $242.39. Workday has a 1 year low of $199.81 and a 1 year high of $311.28. The firm has a market capitalization of $65.75 billion, a PE ratio of 44.71, a price-to-earnings-growth ratio of 5.07 and a beta of 1.35. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period last year, the business posted $0.40 EPS. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. Equities research analysts forecast that Workday will post 2.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $260.32, for a total value of $1,952,400.00. Following the completion of the sale, the director now directly owns 97,500 shares of the company’s stock, valued at approximately $25,381,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Workday news, major shareholder David A. Duffield sold 78,279 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were 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 of the company’s stock, valued at $23,059,998.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $260.32, for a total value of $1,952,400.00. Following the completion of the transaction, the director now directly owns 97,500 shares in the company, valued at $25,381,200. The disclosure for this sale can be found here. Insiders sold 466,402 shares of company stock worth $107,992,034 in the last ninety days. Insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

Several large investors have recently made changes to their positions in WDAY. Vanguard Group Inc. boosted its holdings in Workday by 2.2% during the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after buying an additional 324,540 shares in the last quarter. Sustainable Growth Advisers LP raised its holdings in shares of Workday by 9.7% during the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock worth $927,998,000 after acquiring an additional 301,463 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of Workday by 12.4% in the 1st quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock valued at $693,382,000 after buying an additional 281,207 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Workday by 79.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after purchasing an additional 1,016,394 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Workday by 7.4% during the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after buying an additional 118,180 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.