Workday (NASDAQ:WDAY) Price Target Cut to $200.00 by Analysts at Canaccord Genuity Group

Workday (NASDAQ:WDAYGet Rating) had its target price reduced by equities researchers at Canaccord Genuity Group from $325.00 to $200.00 in a research report issued on Friday, The Fly reports. The firm presently has a “buy” rating on the software maker’s stock. Canaccord Genuity Group’s target price indicates a potential upside of 18.94% from the company’s current price.

Several other analysts also recently weighed in on WDAY. Societe Generale upgraded Workday from a “hold” rating to a “buy” rating and increased their target price for the company from $306.00 to $309.00 in a research note on Tuesday, March 1st. Exane BNP Paribas cut shares of Workday from an “outperform” rating to a “neutral” rating in a research note on Tuesday, March 29th. Citigroup upgraded shares of Workday to a “buy” rating and set a $295.00 price target on the stock in a research report on Tuesday, February 1st. Stifel Nicolaus decreased their target price on Workday from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, March 21st. Finally, Bank of America upped their price target on Workday from $300.00 to $320.00 and gave the company a “buy” rating in a report on Tuesday, March 1st. Four analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, Workday currently has an average rating of “Buy” and an average target price of $267.68.

Shares of Workday stock opened at $168.15 on Friday. Workday has a 12-month low of $157.49 and a 12-month high of $307.81. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average price of $209.50 and a two-hundred day moving average price of $239.37. The stock has a market capitalization of $42.04 billion, a P/E ratio of 1,681.50 and a beta of 1.39.

Workday (NASDAQ:WDAYGet Rating) last posted its quarterly earnings data on Thursday, May 26th. The software maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.02). The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.43 billion. Workday had a return on equity of 2.63% and a net margin of 0.57%. Workday’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) earnings per share. Sell-side analysts anticipate that Workday will post -0.45 earnings per share for the current year.

In other news, major shareholder David A. Duffield sold 209,657 shares of Workday stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $238.52, for a total value of $50,007,387.64. Following the sale, the insider now directly owns 104,395 shares in the company, valued at $24,900,295.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gomez Luciano Fernandez sold 2,424 shares of the stock in a transaction on Thursday, March 3rd. The stock was 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. Over the last three months, insiders have sold 256,453 shares of company stock worth $60,374,855. Insiders own 21.74% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. EP Wealth Advisors LLC bought a new stake in Workday during the first quarter worth about $302,000. Toroso Investments LLC boosted its holdings in shares of Workday by 7.8% in the 1st quarter. Toroso Investments LLC now owns 2,989 shares of the software maker’s stock valued at $716,000 after buying an additional 216 shares during the last quarter. Capital International Sarl grew its stake in shares of Workday by 16.3% in the first quarter. Capital International Sarl now owns 3,710 shares of the software maker’s stock valued at $888,000 after buying an additional 520 shares in the last quarter. Capital International Ltd. CA increased its holdings in Workday by 41.2% during the first quarter. Capital International Ltd. CA now owns 9,949 shares of the software maker’s stock worth $2,382,000 after buying an additional 2,901 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its position in Workday by 2,163.0% during the first quarter. Worldquant Millennium Advisors LLC now owns 41,209 shares of the software maker’s stock worth $9,868,000 after acquiring an additional 39,388 shares in the last quarter. Institutional investors own 70.64% 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.

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