Workday (NASDAQ:WDAY) Price Target Lowered to $200.00 at Mizuho

Workday (NASDAQ:WDAYGet Rating) had its price target cut by research analysts at Mizuho from $300.00 to $200.00 in a report issued on Friday, The Fly reports. Mizuho’s price target would suggest a potential upside of 18.94% from the company’s previous close.

WDAY has been the subject of several other reports. Bank of America boosted their price objective on shares of Workday from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Tuesday, March 1st. Exane BNP Paribas downgraded Workday from an “outperform” rating to a “neutral” rating in a research report on Tuesday, March 29th. JPMorgan Chase & Co. cut their price objective on Workday from $280.00 to $235.00 in a report on Friday. UBS Group lowered Workday from a “buy” rating to a “neutral” rating and set a $185.00 price objective on the stock. in a research note on Tuesday, May 17th. Finally, Evercore ISI dropped 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. Four research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $270.93.

Shares of NASDAQ:WDAY opened at $168.15 on Friday. 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 has a market cap of $42.04 billion, a price-to-earnings ratio of 1,681.50 and a beta of 1.39. The stock’s 50-day moving average price is $209.50 and its two-hundred day moving average price is $239.37. Workday has a 12-month low of $157.49 and a 12-month high of $307.81.

Workday (NASDAQ:WDAYGet Rating) last released its earnings results 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). Workday had a return on equity of 2.63% and a net margin of 0.57%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the business posted ($0.01) earnings per share. Workday’s revenue was up 22.1% on a year-over-year basis. As a group, research analysts forecast that Workday will post -0.45 earnings per share for the current fiscal year.

In related news, CEO Gomez Luciano Fernandez sold 2,424 shares of the business’s stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $245.07, for a total transaction of $594,049.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael M. Mcnamara sold 2,500 shares of the firm’s stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $240.00, for a total transaction of $600,000.00. Following the completion of the transaction, the director now directly owns 8,981 shares in the company, valued at approximately $2,155,440. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 256,453 shares of company stock worth $60,374,855. 21.74% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. boosted its holdings in shares of Workday by 9.8% during the third quarter. Oppenheimer & Co. Inc. now owns 4,713 shares of the software maker’s stock valued at $1,178,000 after acquiring an additional 421 shares during the period. Assetmark Inc. lifted its position in Workday by 315.0% in the 3rd quarter. Assetmark Inc. now owns 166 shares of the software maker’s stock valued at $41,000 after purchasing an additional 126 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in Workday by 1.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 77,174 shares of the software maker’s stock valued at $19,284,000 after purchasing an additional 1,128 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Workday by 4.9% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 34,964 shares of the software maker’s stock worth $8,737,000 after purchasing an additional 1,628 shares during the last quarter. Finally, Fernbridge Capital Management LP increased its stake in shares of Workday by 49.7% in the third quarter. Fernbridge Capital Management LP now owns 463,618 shares of the software maker’s stock valued at $115,854,000 after purchasing an additional 153,857 shares during the period. 70.64% of the stock is currently owned by hedge funds and other institutional investors.

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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