Workday (NASDAQ:WDAY) Price Target Cut to $325.00 by Analysts at Wells Fargo & Company

Workday (NASDAQ:WDAY) had its price objective trimmed by Wells Fargo & Company from $350.00 to $325.00 in a report published on Friday morning, Benzinga reports. The firm currently has an overweight rating on the software maker’s stock.

A number of other brokerages have also issued reports on WDAY. Bank of America decreased their price target on Workday from $330.00 to $310.00 and set a buy rating for the company in a research note on Thursday, May 16th. BMO Capital Markets lowered their price objective on shares of Workday from $338.00 to $300.00 and set an outperform rating on the stock in a research note on Friday. The Goldman Sachs Group decreased their price objective on Workday from $310.00 to $300.00 and set a buy rating on the stock in a report on Friday. Oppenheimer reduced their target price on shares of Workday from $320.00 to $300.00 and set an outperform rating on the stock in a research note on Friday. Finally, TheStreet upgraded Workday from a c rating to a b- rating in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $283.96.

Workday Trading Down 15.3 %

Workday stock traded down $39.99 during trading on Friday, reaching $220.91. The company had a trading volume of 15,622,846 shares, compared to its average volume of 2,392,779. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. Workday has a 12-month low of $192.68 and a 12-month high of $311.28. The firm has a market capitalization of $58.32 billion, a price-to-earnings ratio of 39.80, a PEG ratio of 7.78 and a beta of 1.33. The stock’s 50 day moving average price is $259.94 and its two-hundred day moving average price is $268.90.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. Workday had a return on equity of 6.02% and a net margin of 19.66%. Workday’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 EPS. As a group, equities analysts expect that Workday will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the sale, the insider now directly owns 843,000 shares of the company’s stock, valued at $223,302,270. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder David A. Duffield sold 65,221 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $268.29, for a total value of $17,498,142.09. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at $27,633,065.13. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the insider now directly owns 843,000 shares of the company’s stock, valued at $223,302,270. The disclosure for this sale can be found here. Over the last quarter, insiders sold 435,691 shares of company stock valued at $117,731,569. Corporate insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Institutional investors have recently modified their holdings of the company. Beacon Capital Management LLC grew its holdings in Workday by 333.3% in the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after purchasing an additional 70 shares during the period. VisionPoint Advisory Group LLC raised its position in Workday by 215.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after purchasing an additional 84 shares in the last quarter. Crewe Advisors LLC acquired a new stake in Workday in the first quarter valued at $27,000. Clear Street Markets LLC acquired a new stake in shares of Workday during the 3rd quarter worth about $29,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after buying an additional 105 shares during 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.