KeyCorp Trims Workday (NASDAQ:WDAY) Target Price to $268.00

Workday (NASDAQ:WDAYGet Rating) had its target price reduced by KeyCorp from $312.00 to $268.00 in a report released on Monday, Benzinga reports. The firm presently has an “overweight” rating on the software maker’s stock. KeyCorp’s price objective would indicate a potential upside of 30.02% from the company’s current price.

WDAY has been the subject of a number of other reports. Evercore ISI reduced their target price on shares of Workday from $350.00 to $325.00 and set an “outperform” rating for the company in a research report on Tuesday, March 1st. Exane BNP Paribas downgraded shares of Workday from an “outperform” rating to a “neutral” rating in a research report on Tuesday, March 29th. BNP Paribas downgraded shares of Workday from an “outperform” rating to a “neutral” rating and set a $230.00 target price for the company. in a research report on Tuesday, March 29th. BMO Capital Markets raised shares of Workday from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $330.00 to $295.00 in a research report on Tuesday, February 1st. Finally, Cowen increased their target price on shares of Workday from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Tuesday, March 1st. Three investment analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $309.37.

Shares of WDAY stock opened at $206.13 on Monday. Workday has a 52-week low of $205.55 and a 52-week high of $307.81. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50-day simple moving average of $230.33 and a two-hundred day simple moving average of $254.71. The company has a market capitalization of $51.53 billion, a price-to-earnings ratio of 2,061.30 and a beta of 1.38.

Workday (NASDAQ:WDAYGet Rating) last issued its quarterly earnings data on Monday, February 28th. The software maker reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.01). Workday had a return on equity of 2.63% and a net margin of 0.57%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the company posted ($0.13) earnings per share. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. On average, sell-side analysts forecast that Workday will post -0.47 EPS for the current fiscal year.

In other news, CEO Gomez Luciano Fernandez sold 1,756 shares of the firm’s stock in a transaction on Monday, March 7th. The shares were sold at an average price of $240.84, for a total transaction of $422,915.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder David A. Duffield sold 209,657 shares of the firm’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $238.52, for a total transaction of $50,007,387.64. Following the sale, the insider now owns 104,395 shares in the company, valued at approximately $24,900,295.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 256,453 shares of company stock worth $60,374,855. Corporate insiders own 24.06% of the company’s stock.

A number of large investors have recently modified their holdings of WDAY. Consolidated Planning Corp purchased a new position in Workday in the 3rd quarter worth $27,000. Financial Management Professionals Inc. purchased a new position in Workday in the 4th quarter worth $27,000. Riverview Trust Co purchased a new position in Workday in the 1st quarter worth $27,000. Dark Forest Capital Management LP purchased a new position in Workday in the 3rd quarter worth $28,000. Finally, Arlington Partners LLC purchased a new position in Workday in the 4th quarter worth $28,000. Institutional investors own 69.08% of the company’s stock.

Workday Company Profile (Get Rating)

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments, and to manage their business and operations. The company offers a suite of financial management applications, which enable chief financial officers to maintain accounting information in the general ledger; manage financial processes; 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.

Featured Stories

Analyst Recommendations for Workday (NASDAQ:WDAY)

Receive News & Ratings for Workday Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Workday and related companies with MarketBeat.com's FREE daily email newsletter.