Workday (NASDAQ:WDAY) Given New $230.00 Price Target at Piper Sandler

Workday (NASDAQ:WDAY) had its price objective cut by analysts at Piper Sandler from $290.00 to $230.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the software maker’s stock. Piper Sandler’s target price suggests a potential downside of 2.90% from the stock’s previous close.

A number of other research analysts have also recently weighed in on WDAY. Redburn Atlantic initiated coverage on shares of Workday in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Morgan Stanley dropped their price objective on Workday from $275.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Jefferies Financial Group decreased their target price on Workday from $350.00 to $325.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price objective on shares of Workday in a report on Monday, March 24th. Finally, Mizuho lowered their price objective on Workday from $320.00 to $275.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $292.86.

Workday Stock Performance

Shares of WDAY stock opened at $236.87 on Wednesday. Workday has a one year low of $199.81 and a one year high of $294.00. The firm has a 50-day moving average of $241.26 and a 200-day moving average of $251.77. The company has a market cap of $63.01 billion, a P/E ratio of 39.28, a P/E/G ratio of 3.55 and a beta of 1.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Equities research analysts forecast that Workday will post 2.63 EPS for the current fiscal year.

Insider Activity

In other news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $241.33, for a total value of $1,809,975.00. Following the sale, the director now directly owns 75,000 shares in the company, valued at approximately $18,099,750. This trade represents a 9.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 81,275 shares of the firm’s stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total value of $17,448,117.00. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $22,111,395.96. The trade was a 44.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 321,724 shares of company stock valued at $77,976,126. 20.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in shares of Workday during the 3rd quarter worth approximately $2,289,000. Anchor Investment Management LLC lifted its position in Workday by 6.1% during the third quarter. Anchor Investment Management LLC now owns 6,352 shares of the software maker’s stock valued at $1,552,000 after buying an additional 368 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Workday during the 3rd quarter valued at $4,893,000. Tidal Investments LLC grew its position in shares of Workday by 43.8% in the 3rd quarter. Tidal Investments LLC now owns 13,546 shares of the software maker’s stock worth $3,311,000 after buying an additional 4,128 shares during the period. Finally, Synovus Financial Corp boosted its stake in Workday by 5.7% during the third quarter. Synovus Financial Corp now owns 19,590 shares of the software maker’s stock worth $4,788,000 after acquiring an additional 1,051 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

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.