Workday (NASDAQ:WDAY) PT Lowered to $230.00 at Credit Suisse Group

Workday (NASDAQ:WDAYGet Rating) had its target price decreased by investment analysts at Credit Suisse Group from $300.00 to $230.00 in a report released on Friday, The Fly reports. Credit Suisse Group’s target price would suggest a potential upside of 36.78% from the company’s previous close.

Other equities analysts have also issued reports about the stock. DA Davidson dropped their price target on shares of Workday from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, May 20th. Stifel Nicolaus cut their price target on Workday from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, March 21st. The Goldman Sachs Group lowered their price objective on Workday from $345.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, April 14th. Needham & Company LLC cut their target price on Workday from $360.00 to $300.00 and set a “buy” rating for the company in a research report on Tuesday, March 1st. Finally, UBS Group cut Workday from a “buy” rating to a “neutral” rating and set a $185.00 price target on the stock. in a report on Tuesday, May 17th. Four analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $270.93.

Shares of WDAY stock opened at $168.15 on Friday. Workday has a 1 year low of $157.49 and a 1 year high of $307.81. The firm has a fifty day moving average price of $209.50 and a 200-day moving average price of $239.37. The company has a market cap of $42.04 billion, a price-to-earnings ratio of 1,681.50 and a beta of 1.39. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03.

Workday (NASDAQ:WDAYGet Rating) last issued its quarterly earnings results on Thursday, May 26th. The software maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the company earned ($0.01) EPS. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. Equities research analysts expect that Workday will post -0.45 EPS for the current year.

In related news, insider Richard Harry Sauer sold 5,022 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 64,623 shares of the company’s stock, valued at $14,096,214.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO James Bozzini sold 10,330 shares of the business’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $218.13, for a total transaction of $2,253,282.90. Following the completion of the sale, the chief operating officer now owns 134,977 shares of the company’s stock, valued at approximately $29,442,533.01. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 256,453 shares of company stock worth $60,374,855. Company insiders own 21.74% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in WDAY. Oppenheimer & Co. Inc. boosted its position in 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 purchasing an additional 421 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of 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 buying an additional 126 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Workday by 1.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 77,174 shares of the software maker’s stock worth $19,284,000 after buying an additional 1,128 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of 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 buying an additional 1,628 shares during the last quarter. Finally, Fernbridge Capital Management LP raised its stake in shares of Workday by 49.7% during the 3rd quarter. Fernbridge Capital Management LP now owns 463,618 shares of the software maker’s stock worth $115,854,000 after acquiring an additional 153,857 shares in the last quarter. 70.64% of the stock is 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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