Workday (NASDAQ:WDAY) PT Raised to $310.00

Workday (NASDAQ:WDAY) had its target price increased by Needham & Company LLC from $290.00 to $310.00 in a research report released on Wednesday, The Fly reports. The firm currently has a buy rating on the software maker’s stock.

Other research analysts have also issued research reports about the company. Piper Sandler boosted their price target on Workday from $285.00 to $295.00 and gave the stock an overweight rating in a research report on Friday, August 27th. Barclays boosted their price target on Workday from $309.00 to $340.00 and gave the stock an overweight rating in a research report on Friday, September 17th. They noted that the move was a valuation call. Oppenheimer reiterated a buy rating and set a $285.00 price target (up previously from $265.00) on shares of Workday in a research report on Friday, August 27th. Robert W. Baird boosted their price target on Workday from $259.00 to $275.00 and gave the stock an outperform rating in a research report on Friday, August 27th. Finally, KeyCorp upped their price objective on Workday from $295.00 to $315.00 and gave the company an overweight rating in a report on Friday, August 27th. Four analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Buy and a consensus target price of $303.70.

Shares of WDAY opened at $268.43 on Wednesday. The company has a market cap of $66.57 billion, a P/E ratio of -1,491.19 and a beta of 1.28. The stock has a fifty day moving average price of $250.47 and a 200 day moving average price of $244.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.04 and a quick ratio of 1.04. Workday has a 12 month low of $201.62 and a 12 month high of $282.77.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Wednesday, August 25th. The software maker reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.45. Workday had a positive return on equity of 3.49% and a negative net margin of 0.79%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the firm posted $0.84 EPS. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. As a group, research analysts anticipate that Workday will post 0.09 earnings per share for the current year.

In other news, CEO Gomez Luciano Fernandez sold 2,571 shares of the stock in a transaction dated Tuesday, September 7th. The stock was sold at an average price of $276.53, for a total transaction of $710,958.63. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Aneel Bhusri sold 4,108 shares of the stock in a transaction dated Thursday, July 15th. The shares were sold at an average price of $228.37, for a total value of $938,143.96. The disclosure for this sale can be found here. Insiders have sold 299,105 shares of company stock worth $80,910,048 over the last three months. 24.06% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in WDAY. Standard Life Aberdeen plc boosted its stake in Workday by 5.2% during the 1st quarter. Standard Life Aberdeen plc now owns 20,769 shares of the software maker’s stock valued at $5,160,000 after purchasing an additional 1,028 shares during the period. Fifth Third Bancorp boosted its stake in Workday by 13.5% during the 1st quarter. Fifth Third Bancorp now owns 2,041 shares of the software maker’s stock valued at $507,000 after purchasing an additional 242 shares during the period. Alps Advisors Inc. boosted its stake in Workday by 4.9% during the 1st quarter. Alps Advisors Inc. now owns 8,065 shares of the software maker’s stock valued at $2,004,000 after purchasing an additional 380 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Workday by 1.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,993 shares of the software maker’s stock valued at $3,476,000 after purchasing an additional 190 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in Workday by 2.6% during the 1st quarter. Advisors Asset Management Inc. now owns 6,827 shares of the software maker’s stock valued at $1,696,000 after purchasing an additional 170 shares during the period. Hedge funds and other institutional investors own 69.20% of the company’s stock.

About Workday

Workday, Inc engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management and analytics applications designed for companies, educational institutions and government agencies. The company was founded by David A.

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