Workday (NASDAQ:WDAY) Given Neutral Rating at Piper Sandler

Piper Sandler reissued their neutral rating on shares of Workday (NASDAQ:WDAY) in a research note issued to investors on Wednesday morning, MarketBeat reports. Piper Sandler currently has a $270.00 price target on the software maker’s stock, down from their previous price target of $285.00.

A number of other equities analysts also recently weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $315.00 target price on shares of Workday in a research note on Thursday, September 19th. Evercore ISI decreased their target price on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. KeyCorp boosted their price target on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Citigroup decreased their price objective on shares of Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Finally, Wells Fargo & Company boosted their target price on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $288.14.

Workday Trading Down 6.2 %

Shares of Workday stock opened at $253.40 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a fifty day simple moving average of $248.62 and a 200 day simple moving average of $237.33. Workday has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a market capitalization of $67.15 billion, a P/E ratio of 44.15, a price-to-earnings-growth ratio of 5.31 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, sell-side analysts anticipate that Workday will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. This trade represents a 39.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Richard Harry Sauer sold 3,134 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total transaction of $738,934.52. Following the completion of the sale, the insider now directly owns 85,795 shares of the company’s stock, valued at $20,228,745.10. This represents a 3.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 359,954 shares of company stock worth $88,742,132. Corporate insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WDAY. Capital Performance Advisors LLP bought a new position in Workday during the 3rd quarter worth approximately $26,000. SouthState Corp grew its holdings in shares of Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after purchasing an additional 129 shares during the last quarter. Crewe Advisors LLC increased its stake in shares of Workday by 56.6% in the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock worth $35,000 after buying an additional 56 shares during the period. Goodman Advisory Group LLC bought a new stake in Workday during the 2nd quarter valued at $35,000. Finally, Meeder Asset Management Inc. boosted its position in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after buying an additional 43 shares during the period. Hedge funds and other 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.