The Goldman Sachs Group Boosts Workday (NASDAQ:WDAY) Price Target to $305.00

Workday (NASDAQ:WDAY) had its target price hoisted by The Goldman Sachs Group from $300.00 to $305.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. The Goldman Sachs Group’s target price points to a potential upside of 22.75% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Bank of America increased their target price on shares of Workday from $265.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and set a $285.00 price objective on shares of Workday in a research note on Wednesday. JPMorgan Chase & Co. cut their target price on Workday from $300.00 to $285.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Jefferies Financial Group lowered their price target on Workday from $350.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Finally, Citigroup cut their price objective on Workday from $293.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average price target of $286.48.

Workday Stock Up 0.1 %

WDAY stock opened at $248.47 on Thursday. The stock has a market cap of $65.84 billion, a PE ratio of 44.77, a price-to-earnings-growth ratio of 5.07 and a beta of 1.35. The firm’s 50-day simple moving average is $236.71 and its 200 day simple moving average is $242.43. Workday has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. 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 (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 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 analyst estimates of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. During the same quarter last year, the business earned $0.40 earnings per share. Workday’s revenue was up 16.5% compared to the same quarter last year. As a group, sell-side analysts predict that Workday will post 2.39 EPS for the current year.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 78,279 shares of Workday stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $223.89, for a total value of $17,525,885.31. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $23,059,998.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the business’s 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 completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $26,902,816.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder David A. Duffield sold 78,279 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $23,059,998.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 466,402 shares of company stock worth $107,992,034. Insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WDAY. Sanctuary Advisors LLC acquired a new stake in shares of Workday in the second quarter valued at about $6,183,000. Sycomore Asset Management acquired a new stake in Workday in the 2nd quarter valued at approximately $15,406,000. New Century Financial Group LLC bought a new position in Workday in the 2nd quarter worth approximately $265,000. Cetera Investment Advisers lifted its holdings in shares of Workday by 3.9% during the second quarter. Cetera Investment Advisers now owns 51,043 shares of the software maker’s stock worth $11,411,000 after buying an additional 1,911 shares during the last quarter. Finally, Truist Financial Corp boosted its position in shares of Workday by 1.5% in the second quarter. Truist Financial Corp now owns 88,588 shares of the software maker’s stock valued at $19,805,000 after acquiring an additional 1,320 shares during the period. 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.