Loop Capital Issues Positive Forecast for Workday (NASDAQ:WDAY) Stock Price

Workday (NASDAQ:WDAY - Free Report) had its target price lifted by Loop Capital from $242.00 to $260.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a hold rating on the software maker's stock.

WDAY has been the subject of a number of other reports. Piper Sandler reissued a "neutral" rating and issued a $270.00 target price (down from $285.00) on shares of Workday in a report on Wednesday, November 27th. Citigroup lowered their price objective on shares of Workday from $287.00 to $270.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Wells Fargo & Company boosted their target price on shares of Workday from $300.00 to $330.00 and gave the stock an "overweight" rating in a report on Monday, December 9th. StockNews.com downgraded shares of Workday from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Finally, Bank of America dropped their price target on Workday from $310.00 to $285.00 and set a "buy" rating for the company in a research report on Wednesday, November 27th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Workday currently has a consensus rating of "Moderate Buy" and a consensus target price of $291.11.

Workday Price Performance

WDAY stock traded down $5.24 during mid-day trading on Wednesday, hitting $256.39. The company had a trading volume of 2,415,239 shares, compared to its average volume of 2,092,095. The company has a 50-day moving average price of $261.10 and a 200 day moving average price of $252.54. Workday has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a market capitalization of $68.20 billion, a price-to-earnings ratio of 42.52, a P/E/G ratio of 3.56 and a beta of 1.35. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm's revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. On average, research analysts anticipate that Workday will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In other Workday news, CAO Mark S. Garfield sold 472 shares of the company's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the sale, the chief accounting officer now owns 35,408 shares in the company, valued at $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total value of $462,901.61. Following the completion of the transaction, the director now owns 6,845 shares in the company, valued at $1,732,401.05. This represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Workday

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock valued at $5,197,447,000 after acquiring an additional 4,517,272 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker's stock worth $1,218,415,000 after acquiring an additional 480,459 shares during the last quarter. State Street Corp increased its holdings in shares of Workday by 1.4% during the third quarter. State Street Corp now owns 4,842,729 shares of the software maker's stock valued at $1,183,611,000 after acquiring an additional 67,380 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Workday by 61.9% in the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock valued at $1,193,105,000 after purchasing an additional 1,772,223 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Workday by 60.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock worth $960,454,000 after purchasing an additional 1,406,088 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.