Workday (NASDAQ:WDAY) Price Target Increased to $200.00 by Analysts at Deutsche Bank Aktiengesellschaft

Posted by Defense World Staff on Mar 1st, 2023

Workday (NASDAQ:WDAY – Get Rating) had its target price boosted by Deutsche Bank Aktiengesellschaft from $195.00 to $200.00 in a report released on Tuesday, Briefing.com reports. The firm currently has a hold rating on the software maker’s stock.

WDAY has been the topic of a number of other reports. OTR Global upgraded Workday to a positive rating in a report on Wednesday, February 22nd. Loop Capital lifted their price objective on Workday from $160.00 to $180.00 and gave the stock a hold rating in a report on Tuesday. Capital One Financial began coverage on Workday in a research report on Friday, January 13th. They issued an overweight rating and a $200.00 target price for the company. Cowen boosted their price objective on Workday from $225.00 to $230.00 and gave the company an outperform rating in a research report on Tuesday. Finally, Stifel Nicolaus boosted their price target on Workday from $185.00 to $210.00 and gave the stock a buy rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $217.30.

Workday Stock Performance

Shares of WDAY stock opened at $185.47 on Tuesday. Workday has a fifty-two week low of $128.72 and a fifty-two week high of $250.00. The business has a fifty day simple moving average of $175.77 and a 200-day simple moving average of $161.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.87 and a current ratio of 1.87.

Workday (NASDAQ:WDAY – Get Rating) last issued its quarterly earnings results on Monday, February 27th. The software maker reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. Workday had a negative return on equity of 2.00% and a negative net margin of 5.90%. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the company earned ($0.20) EPS. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. On average, analysts predict that Workday will post 0.04 earnings per share for the current year.

Workday declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 29th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the software maker to reacquire up to 1.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Workday

In related news, Director George J. Still, Jr. sold 5,000 shares of the business’s stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $169.38, for a total transaction of $846,900.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $1,693,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Workday news, CEO Aneel Bhusri sold 2,787 shares of the company’s stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $161.72, for a total value of $450,713.64. Following the sale, the chief executive officer now owns 415,722 shares in the company, valued at $67,230,561.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director George J. Still, Jr. sold 5,000 shares of the company’s stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $169.38, for a total transaction of $846,900.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at approximately $1,693,800. The disclosure for this sale can be found here. Insiders have sold 119,548 shares of company stock worth $20,795,439 over the last 90 days. 21.74% of the stock is owned by company insiders.

Institutional Investors Weigh In On Workday

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Republic Investment Management Inc. grew its holdings in Workday by 3.5% in the third quarter. First Republic Investment Management Inc. now owns 33,071 shares of the software maker’s stock worth $5,034,000 after purchasing an additional 1,125 shares during the period. EFG Asset Management North America Corp. grew its holdings in Workday by 1.1% in the third quarter. EFG Asset Management North America Corp. now owns 22,743 shares of the software maker’s stock worth $3,463,000 after purchasing an additional 243 shares during the period. Synovus Financial Corp grew its holdings in Workday by 18.6% in the second quarter. Synovus Financial Corp now owns 17,879 shares of the software maker’s stock worth $2,497,000 after purchasing an additional 2,800 shares during the period. First Hawaiian Bank lifted its stake in shares of Workday by 44.7% in the third quarter. First Hawaiian Bank now owns 6,842 shares of the software maker’s stock worth $1,041,000 after buying an additional 2,114 shares in the last quarter. Finally, Metis Global Partners LLC lifted its stake in shares of Workday by 33.2% in the second quarter. Metis Global Partners LLC now owns 1,519 shares of the software maker’s stock worth $212,000 after buying an additional 379 shares in the last quarter. Hedge funds and other institutional investors own 66.98% of the company’s stock.

Workday Company Profile

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Workday, Inc engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management and analytics applications designed for companies, educational institutions and government agencies. The company was founded by David A.