Workday (NASDAQ:WDAY) Given New $300.00 Price Target at Evercore ISI

Workday (NASDAQ:WDAY) had its price target trimmed by Evercore ISI from $350.00 to $300.00 in a research report released on Friday, Benzinga reports. The brokerage currently has an outperform rating on the software maker’s stock.

A number of other analysts also recently commented on the stock. Mizuho cut their target price on shares of Workday from $325.00 to $280.00 and set a buy rating for the company in a research note on Friday. KeyCorp reduced their target price on Workday from $330.00 to $275.00 and set an overweight rating on the stock in a report on Friday. StockNews.com downgraded shares of Workday from a strong-buy rating to a buy rating in a research report on Monday, April 8th. JMP Securities reiterated a market outperform rating and set a $315.00 target price on shares of Workday in a report on Tuesday, February 27th. Finally, The Goldman Sachs Group decreased their target price on shares of Workday from $310.00 to $300.00 and set a buy rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $283.96.

Workday Stock Down 15.3 %

Workday stock traded down $39.99 during mid-day trading on Friday, reaching $220.91. 15,622,846 shares of the company’s stock were exchanged, compared to its average volume of 2,392,779. The company has a market cap of $58.32 billion, a P/E ratio of 39.80, a P/E/G ratio of 7.78 and a beta of 1.33. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. The company has a fifty day moving average of $259.94 and a 200-day moving average of $268.90. Workday has a twelve month low of $192.68 and a twelve month high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.20. Workday had a return on equity of 6.02% and a net margin of 19.66%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the firm posted $0.16 EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. Sell-side analysts expect that Workday will post 1.76 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $264.89, for a total value of $14,833,840.00. Following the completion of the transaction, the insider now directly owns 843,000 shares of the company’s stock, valued at $223,302,270. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the completion of the sale, the insider now owns 843,000 shares of the company’s stock, valued at approximately $223,302,270. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director George J. Still, Jr. sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $270.52, for a total transaction of $1,352,600.00. Following the completion of the transaction, the director now directly owns 105,000 shares of the company’s stock, valued at approximately $28,404,600. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 435,691 shares of company stock worth $117,731,569. 20.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cetera Advisors LLC raised its stake in shares of Workday by 378.3% in the 1st quarter. Cetera Advisors LLC now owns 16,582 shares of the software maker’s stock valued at $4,523,000 after acquiring an additional 13,115 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Workday by 83.5% in the first quarter. Cetera Investment Advisers now owns 49,132 shares of the software maker’s stock valued at $13,401,000 after acquiring an additional 22,351 shares in the last quarter. Beck Bode LLC lifted its stake in shares of Workday by 53.7% in the first quarter. Beck Bode LLC now owns 30,318 shares of the software maker’s stock valued at $8,269,000 after purchasing an additional 10,589 shares during the period. Atria Investments Inc raised its position in Workday by 1.2% during the first quarter. Atria Investments Inc now owns 38,296 shares of the software maker’s stock worth $10,445,000 after acquiring an additional 452 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Workday during the first quarter worth about $21,906,000. 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.