Workday (NASDAQ:WDAY) PT Lowered to $250.00

Workday (NASDAQ:WDAYGet Rating) had its price objective decreased by stock analysts at Cowen from $310.00 to $250.00 in a report issued on Monday, The Fly reports. Cowen’s target price indicates a potential upside of 50.61% from the company’s current price.

Several other analysts have also issued reports on WDAY. Exane BNP Paribas lowered shares of Workday from an “outperform” rating to a “neutral” rating in a research report on Tuesday, March 29th. Monness Crespi & Hardt dropped their price objective on shares of Workday to $230.00 and set a “na” rating on the stock in a research report on Wednesday, May 18th. Wells Fargo & Company dropped their price objective on shares of Workday from $340.00 to $300.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 18th. Evercore ISI dropped their price objective on shares of Workday from $350.00 to $325.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 1st. Finally, Societe Generale raised shares of Workday from a “hold” rating to a “buy” rating and increased their price objective for the company from $306.00 to $309.00 in a research report on Tuesday, March 1st. Four equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $293.59.

NASDAQ WDAY opened at $165.99 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. The firm’s fifty day moving average price is $214.91 and its two-hundred day moving average price is $242.21. Workday has a 1 year low of $161.04 and a 1 year high of $307.81. The firm has a market capitalization of $41.50 billion, a P/E ratio of 1,659.90 and a beta of 1.39.

Workday (NASDAQ:WDAYGet Rating) last posted its quarterly earnings results on Monday, February 28th. The software maker reported ($0.20) earnings per share (EPS) for the quarter, missing the 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 for the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the company posted ($0.13) earnings per share. The business’s revenue was up 21.6% compared to the same quarter last year. On average, research analysts anticipate that Workday will post -0.45 EPS for the current fiscal year.

In related news, insider Richard Harry Sauer sold 5,022 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $218.13, for a total value of $1,095,448.86. Following the completion of the transaction, the insider now owns 64,623 shares in the company, valued at approximately $14,096,214.99. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Gomez Luciano Fernandez sold 2,424 shares of the firm’s stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $245.07, for a total transaction of $594,049.68. The disclosure for this sale can be found here. Insiders sold 256,453 shares of company stock valued at $60,374,855 in the last three months. Company insiders own 21.74% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Consolidated Planning Corp bought a new position in Workday during the 3rd quarter worth approximately $27,000. Financial Management Professionals Inc. bought a new position in Workday during the 4th quarter worth approximately $27,000. Riverview Trust Co bought a new position in Workday during the 1st quarter worth approximately $27,000. Dark Forest Capital Management LP bought a new position in Workday during the 3rd quarter worth approximately $28,000. Finally, Arlington Partners LLC bought a new position in Workday during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 70.64% of the company’s stock.

About Workday (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.

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