Workday (NASDAQ:WDAY) Stock Price Expected to Rise, Loop Capital Analyst Says

Workday (NASDAQ:WDAY) had its price target hoisted by research analysts at Loop Capital from $255.00 to $270.00 in a report released on Thursday,Benzinga reports. The firm currently has a “hold” rating on the software maker’s stock. Loop Capital’s target price points to a potential downside of 0.89% from the stock’s previous close.

Several other research analysts have also weighed in on WDAY. BMO Capital Markets reissued an “outperform” rating and set a $300.00 price target on shares of Workday in a research report on Wednesday, September 18th. DA Davidson increased their price target on Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Wells Fargo & Company lifted their price objective on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Piper Sandler reissued an “overweight” rating and issued a $285.00 price target on shares of Workday in a report on Wednesday, September 18th. Finally, Evercore ISI decreased their price objective on Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $287.59.

Workday Price Performance

Workday stock traded down $4.08 during trading hours on Thursday, hitting $272.43. 808,370 shares of the company traded hands, compared to its average volume of 2,099,983. The firm has a market cap of $72.19 billion, a P/E ratio of 47.58, a P/E/G ratio of 5.37 and a beta of 1.35. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday has a 1-year low of $199.81 and a 1-year high of $311.28. The firm’s 50-day simple moving average is $246.33 and its two-hundred day simple moving average is $236.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.10. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm’s revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 earnings per share. As a group, analysts forecast that Workday will post 2.4 earnings per share for the current fiscal year.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $242.01, for a total value of $13,552,560.00. Following the completion of the sale, the insider now directly owns 281,000 shares of the company’s stock, valued at $68,004,810. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $26,902,816.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the sale, the insider now owns 281,000 shares in the company, valued at $68,004,810. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 370,575 shares of company stock worth $91,506,897 in the last three months. 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. Bleakley Financial Group LLC lifted its holdings in shares of Workday by 2.5% in the first quarter. Bleakley Financial Group LLC now owns 3,335 shares of the software maker’s stock valued at $910,000 after purchasing an additional 80 shares in the last quarter. Koshinski Asset Management Inc. acquired a new position in shares of Workday during the 1st quarter worth about $269,000. Kingsview Wealth Management LLC grew its stake in Workday by 52.3% in the first quarter. Kingsview Wealth Management LLC now owns 4,963 shares of the software maker’s stock valued at $1,354,000 after purchasing an additional 1,705 shares in the last quarter. HBK Sorce Advisory LLC bought a new stake in shares of Workday during the 1st quarter worth approximately $220,000. Finally, Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Workday by 4.4% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,031 shares of the software maker’s stock valued at $281,000 after buying an additional 43 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

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.