Workday (NASDAQ:WDAY) PT Lowered to $255.00

Workday (NASDAQ:WDAY) had its price objective decreased by DA Davidson from $300.00 to $255.00 in a research report sent to investors on Friday morning, Benzinga reports. DA Davidson currently has a neutral rating on the software maker’s stock.

A number of other equities analysts have also weighed in on the company. Piper Sandler decreased their price target on Workday from $330.00 to $280.00 and set an overweight rating for the company in a research report on Friday. 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 report on Thursday, May 16th. KeyCorp decreased their price target on Workday from $330.00 to $275.00 and set an overweight rating for the company in a research report on Friday. Evercore ISI decreased their price target on Workday from $350.00 to $300.00 and set an outperform rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. increased their price target on Workday from $260.00 to $300.00 and gave the company an overweight rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $283.96.

Workday Trading Down 15.3 %

Shares of WDAY stock opened at $220.91 on Friday. The stock has a 50-day simple moving average of $259.94 and a 200 day simple moving average of $269.56. Workday has a fifty-two week low of $192.68 and a fifty-two week high of $311.28. The stock has a market capitalization of $58.32 billion, a P/E ratio of 39.80, a P/E/G ratio of 6.59 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.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, beating 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 business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter last year, the business posted $0.16 earnings per share. The company’s quarterly revenue was up 18.1% on a year-over-year basis. On average, sell-side analysts expect that Workday will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 843,000 shares in the company, valued at approximately $223,302,270. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Richard Harry Sauer sold 8,447 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $268.21, for a total value of $2,265,569.87. Following the transaction, the insider now owns 66,356 shares of the company’s stock, valued at approximately $17,797,342.76. The disclosure for this sale can be found here. Insiders have sold 435,691 shares of company stock valued at $117,731,569 in the last 90 days. 20.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Workday

A number of institutional investors and hedge funds have recently made changes to their positions in WDAY. Beacon Capital Management LLC raised its position in shares of Workday by 333.3% during the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after acquiring an additional 70 shares during the last quarter. VisionPoint Advisory Group LLC raised its position in shares of Workday by 215.4% during the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after acquiring an additional 84 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of Workday during the first quarter worth $27,000. Clear Street Markets LLC bought a new stake in shares of Workday during the third quarter worth $29,000. Finally, Exchange Traded Concepts LLC raised its position in shares of Workday by 1,750.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after acquiring an additional 105 shares during the last quarter. 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.