Workday (NASDAQ:WDAY) Given New $300.00 Price Target at Royal Bank of Canada

Workday (NASDAQ:WDAY) had its target price trimmed by Royal Bank of Canada from $310.00 to $300.00 in a research report released on Friday, Benzinga reports. The brokerage currently has an outperform rating on the software maker’s stock.

Other equities analysts also recently issued reports about the stock. Mizuho dropped their target price on shares of Workday from $325.00 to $280.00 and set a buy rating for the company in a report on Friday. Morgan Stanley cut their price target on Workday from $330.00 to $325.00 and set an overweight rating for the company in a report on Friday. TheStreet upgraded shares of Workday from a c rating to a b- rating in a report on Monday, February 26th. Piper Sandler decreased their target price on shares of Workday from $330.00 to $280.00 and set an overweight rating on the stock in a research report on Friday. Finally, Barclays cut their price target on Workday from $326.00 to $316.00 and set an overweight rating for the company in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $283.96.

Workday Price Performance

Shares of WDAY traded down $39.99 during trading hours on Friday, reaching $220.91. The company had a trading volume of 15,622,846 shares, compared to its average volume of 2,392,779. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. The firm has a 50 day simple moving average of $259.94 and a 200-day simple moving average of $268.90. Workday has a 12-month low of $192.68 and a 12-month high of $311.28. The company has a market capitalization of $58.32 billion, a price-to-earnings ratio of 39.80, a PEG ratio of 7.78 and a beta of 1.33.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.20. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Workday had a return on equity of 6.02% and a net margin of 19.66%. Workday’s revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 earnings per share. Research analysts expect that Workday will post 1.76 earnings per share for the current year.

Insider Buying and Selling

In other news, Director George J. Still, Jr. sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total transaction of $1,352,600.00. Following the completion of the transaction, the director now owns 105,000 shares of the company’s stock, valued at $28,404,600. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Workday news, Director George J. Still, Jr. sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total value of $1,352,600.00. Following the sale, the director now directly owns 105,000 shares in the company, valued at $28,404,600. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the transaction, the insider now directly owns 165,932 shares in the company, valued at approximately $48,749,162.28. The disclosure for this sale can be found here. Insiders have sold 435,691 shares of company stock worth $117,731,569 over the last ninety days. 20.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Workday

Institutional investors and hedge funds have recently modified their holdings of the stock. Vontobel Holding Ltd. increased its stake in Workday by 5.1% in the 4th quarter. Vontobel Holding Ltd. now owns 67,077 shares of the software maker’s stock valued at $18,517,000 after buying an additional 3,260 shares during the period. Morgan Stanley raised its holdings in shares of Workday by 47.0% during the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock worth $586,021,000 after acquiring an additional 872,288 shares in the last quarter. Assetmark Inc. boosted its position in Workday by 9.9% during the fourth quarter. Assetmark Inc. now owns 21,414 shares of the software maker’s stock valued at $5,912,000 after purchasing an additional 1,933 shares during the last quarter. Coldstream Capital Management Inc. purchased a new position in Workday in the fourth quarter valued at about $481,000. Finally, Charles Schwab Investment Management Inc. increased its position in Workday by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 744,482 shares of the software maker’s stock worth $205,522,000 after purchasing an additional 26,307 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

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.