Workday (NASDAQ:WDAY) Price Target Lowered to $205.00 at DA Davidson

Workday (NASDAQ:WDAYGet Rating) had its price target decreased by DA Davidson from $220.00 to $205.00 in a report published on Tuesday, The Fly reports.

Other equities research analysts also recently issued reports about the company. Macquarie assumed coverage on Workday in a research report on Wednesday, November 2nd. They set a neutral rating and a $170.00 target price on the stock. Monness Crespi & Hardt lowered Workday from a buy rating to a neutral rating in a research note on Thursday, November 17th. Mizuho boosted their price target on Workday from $200.00 to $220.00 and gave the company a buy rating in a research note on Friday, August 26th. Loop Capital lowered Workday from a buy rating to a hold rating and lowered their price target for the company from $225.00 to $150.00 in a research note on Monday. Finally, Citigroup assumed coverage on Workday in a research note on Thursday, September 1st. They set a neutral rating and a $186.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $221.48.

Workday Stock Up 2.2 %

Shares of NASDAQ:WDAY opened at $146.29 on Tuesday. The stock’s 50-day moving average is $149.18 and its 200-day moving average is $153.22. Workday has a 52-week low of $128.72 and a 52-week high of $285.58. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.58.

Workday (NASDAQ:WDAYGet Rating) last issued its quarterly earnings results on Thursday, August 25th. The software maker reported ($0.16) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.16). The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. Workday had a negative return on equity of 2.34% and a negative net margin of 3.46%. During the same period last year, the business posted $0.49 earnings per share. On average, sell-side analysts forecast that Workday will post -0.61 earnings per share for the current fiscal year.

Insider Transactions at Workday

In other news, insider Douglas A. Robinson sold 2,128 shares of the business’s stock in a transaction that occurred on Saturday, October 15th. The stock was sold at an average price of $147.14, for a total value of $313,113.92. Following the transaction, the insider now directly owns 132,545 shares of the company’s stock, valued at approximately $19,502,671.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Workday news, insider Douglas A. Robinson sold 2,128 shares of the company’s stock in a transaction on Saturday, October 15th. The stock was sold at an average price of $147.14, for a total transaction of $313,113.92. Following the transaction, the insider now owns 132,545 shares of the company’s stock, valued at approximately $19,502,671.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder David A. Duffield sold 102,500 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $156.24, for a total value of $16,014,600.00. Following the transaction, the insider now directly owns 102,500 shares in the company, valued at approximately $16,014,600. The disclosure for this sale can be found here. Insiders have sold 120,974 shares of company stock valued at $18,758,209 in the last three months. 21.74% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Workday by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 12,813,123 shares of the software maker’s stock worth $1,950,413,000 after buying an additional 128,192 shares in the last quarter. Sustainable Growth Advisers LP raised its position in shares of Workday by 18.1% during the 3rd quarter. Sustainable Growth Advisers LP now owns 3,597,255 shares of the software maker’s stock valued at $547,574,000 after acquiring an additional 551,281 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Workday by 6.2% during the 1st quarter. Clearbridge Investments LLC now owns 3,427,755 shares of the software maker’s stock valued at $820,810,000 after acquiring an additional 201,605 shares during the last quarter. Tiger Global Management LLC raised its position in shares of Workday by 134.6% during the 3rd quarter. Tiger Global Management LLC now owns 3,172,411 shares of the software maker’s stock valued at $482,904,000 after acquiring an additional 1,820,074 shares during the last quarter. Finally, Bares Capital Management Inc. raised its position in shares of Workday by 2.7% during the 2nd quarter. Bares Capital Management Inc. now owns 2,404,273 shares of the software maker’s stock valued at $335,588,000 after acquiring an additional 62,580 shares during the last quarter. Institutional investors and hedge funds own 68.16% of the company’s stock.

About Workday

(Get Rating)

Workday, Inc provides enterprise cloud applications in the United States and internationally. The company's applications help its customers to plan, execute, analyze, and extend to other applications and environments, and to manage their business and operations. It 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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