Workday (NASDAQ:WDAY) Given New $270.00 Price Target at Loop Capital

Workday (NASDAQ:WDAY) had its price objective increased by Loop Capital from $255.00 to $270.00 in a research report report published on Thursday morning,Benzinga reports. Loop Capital currently has a hold rating on the software maker’s stock.

WDAY has been the topic of a number of other reports. Morgan Stanley dropped their price target on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. JMP Securities restated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research note on Thursday, September 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $285.00 target price on shares of Workday in a report on Wednesday, September 18th. KeyCorp raised their target price on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Evercore ISI decreased their target price on Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. One research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.59.

Workday Stock Performance

WDAY stock opened at $259.41 on Thursday. The company has a market cap of $68.74 billion, a P/E ratio of 45.19, a price-to-earnings-growth ratio of 5.39 and a beta of 1.35. Workday has a 1 year low of $199.81 and a 1 year high of $311.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The stock’s fifty day moving average price is $246.74 and its 200-day moving average price is $236.60.

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

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction dated 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 sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. The trade was a 39.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $260.32, for a total value of $1,952,400.00. Following the completion of the sale, the director now directly owns 97,500 shares in the company, valued at $25,381,200. This trade represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 370,575 shares of company stock valued at $91,506,897. 20.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WDAY. Capital Performance Advisors LLP purchased a new position in Workday in the third quarter worth about $26,000. Crewe Advisors LLC purchased a new position in Workday in the first quarter worth about $27,000. SouthState Corp grew its position in Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after acquiring an additional 129 shares in the last quarter. Goodman Advisory Group LLC purchased a new position in Workday in the second quarter worth about $35,000. Finally, Meeder Asset Management Inc. grew its position in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

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.