Workday (NASDAQ:WDAY) Upgraded to “Hold” at Piper Sandler

Workday (NASDAQ:WDAY) was upgraded by equities research analysts at Piper Sandler to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the company. Barclays cut their price target on Workday from $280.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. Wells Fargo & Company cut their target price on Workday from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. The Goldman Sachs Group started coverage on Workday in a research report on Monday, January 12th. They set a “neutral” rating and a $238.00 price target for the company. Citizens Jmp reissued a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Wednesday, November 26th. Finally, Macquarie reaffirmed a “buy” rating on shares of Workday in a report on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.00.

Workday Stock Performance

WDAY stock opened at $170.15 on Monday. Workday has a 1 year low of $156.87 and a 1 year high of $283.68. The stock has a market capitalization of $44.75 billion, a price-to-earnings ratio of 71.49, a PEG ratio of 1.38 and a beta of 1.13. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83. The stock’s fifty day moving average is $204.95 and its two-hundred day moving average is $222.17.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.15. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.42 billion. Workday had a net margin of 6.95% and a return on equity of 10.50%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.89 EPS. On average, research analysts predict that Workday will post 2.63 EPS for the current year.

Insider Activity

In other Workday news, CEO Carl M. Eschenbach sold 3,125 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $210.00, for a total value of $656,250.00. Following the sale, the chief executive officer directly owned 17,097 shares in the company, valued at approximately $3,590,370. The trade was a 15.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gerrit S. Kazmaier sold 6,547 shares of the firm’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $218.77, for a total transaction of $1,432,287.19. Following the transaction, the insider owned 111,353 shares of the company’s stock, valued at approximately $24,360,695.81. This trade represents a 5.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 370,321 shares of company stock valued at $78,866,401 over the last quarter. Insiders own 19.31% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Brighton Jones LLC raised its position in shares of Workday by 230.2% during the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after purchasing an additional 2,792 shares during the period. Empowered Funds LLC boosted its position in shares of Workday by 12.1% in the 1st quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock valued at $2,602,000 after purchasing an additional 1,206 shares during the period. Geneos Wealth Management Inc. increased its stake in Workday by 211.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock worth $44,000 after purchasing an additional 127 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Workday during the 2nd quarter worth about $281,000. Finally, Valeo Financial Advisors LLC lifted its stake in Workday by 40.0% during the second quarter. Valeo Financial Advisors LLC now owns 3,048 shares of the software maker’s stock valued at $732,000 after buying an additional 871 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.