Is It Right Time to Be Bearish on Workday, Inc. (WDAY), Targa Resources Corp. (TRGP)?

    The shares of Workday, Inc. (NASDAQ:WDAY) has been pegged with a rating of Neutral by Citigroup in its latest research note that was published on August 30th, 2019. The research company has also assigned a $192 price target. Citigroup wasn’t the only research firm that published a report of Workday, Inc., with other equities research analysts also giving their opinion on the stock. BMO Capital Markets advised investors in its research note published on August 30th, 2019, to Market Perform the WDAY stock while also putting a $225 price target. The stock had earned Outperform rating from RBC Capital Mkts when it published its report on August 26th, 2019. That day the RBC Capital Mkts set price target on the stock to $225. The stock was given Buy rating by Mizuho in its report released on August 22nd, 2019. Compass Point was of a view that WDAY is Buy in its latest report on August 13th, 2019 while giving it a price target of $238. Monness Crespi & Hardt thinks that WDAY is worth Buy rating. This was contained in the firm’s report on May 29th, 2019 in which the stock’s price target was also moved to $262.

    The consensus currently stands at a Hold while its average price target is $209.79. The price of the stock the last time has raised by 47.53% from its Week high price while it is raised higher than its 52-Week low price. A look at the stock’s other technical shows that its 14-day RSI now stands at 30.79.

    The shares of the company dipped by -0.75% during the trading session on Thursday, reaching a low of $172.95 while ending the day at $173.67. During the trading session, a total of 2.67 million shares were traded which represents a -56.32% decline from the average session volume which is 1.71M shares. WDAY had ended its last session trading at 174.98. Workday, Inc. currently has a market cap of $41.55B while its P/E earnings growth sits at 13.72, with a beta of 1.55. Workday, Inc. debt-to-equity ratio currently stands at 0.60, while its quick ratio hovers at 1.10. WDAY 52-week low price stands at $117.72 while its 52-week high price is $226.83.

    Investment analysts at Raymond James published a research note on August 28th, 2019 where it informed investors and clients that Targa Resources Corp. (NYSE:TRGP) is now rated as Strong Buy. Their price target on the stock stands at $48. BMO Capital Markets also rated TRGP as Reiterated on August 30th, 2019, with its price target of $225 suggesting that TRGP could surge by 22.14% from its current share price. Even though the stock has been trading at $35.18/share, analysts expect it to surge higher by 3.18% to reach $46.62/share. It started the day trading at $36.56 and traded between $35.70 and $36.30 throughout the trading session.

    A look at its technical shows that TRGP’s 50-day SMA is 37.52 while its 200-day SMA stands at 40.25. At the moment, only of Targa Resources Corp. shares were sold short. The company’s average trading volume currently stands at 2.25M shares, which means that the short-interest ratio is just 7.49 days. Over the past seven days, the company moved, with its shift of 11.83%. Looking further, the stock has dropped -7.75% over the past 90 days while it lost -9.88% over the last six months.

    The change in the stock’s fortunes has led to several institutional investors altering their holdings of the stock. The Vanguard Group Inc bought more TRGP shares, increasing its portfolio by +3.05% during the last quarter. This move now sees The Vanguard Group Inc purchasing 643,895 shares in the last quarter, thus it now holds 21,771,304 shares of TRGP, with a total valuation of $847,121,439. Tortoise Capital Advisors LLC meanwhile bought more TRGP shares in the recently filed quarter, changing its stake to $551,277,191 worth of shares. Harvest Fund Advisors LLC followed the path by decreasing its TRGP portfolio by -2.25% in the quarter. This means that Harvest Fund Advisors LLC sold -290,398 shares in the last quarter and now controls 12,594,050 shares of the TRGP stock, with the valuation hitting $490,034,486.

    Similarly, Invesco Advisers Inc increased its Targa Resources Corp. shares by +162,398.66% during the recently filed quarter. After buying 9,360,659 shares in the last quarter, the firm now controls 9,366,423 shares of Targa Resources Corp. which are valued at $364,447,519. In the same vein, Goldman Sachs Asset Management LP decreased its Targa Resources Corp. shares by during the most recent reported quarter. The firm sold -153,955 shares during the quarter which decreased its stakes to 9,142,553 shares and is now valued at $355,736,737. Following these latest developments, around 0.40% of Targa Resources Corp. stocks are owned by institutional investors and hedge funds.