Workday (NASDAQ:WDAY) Price Target Cut to $230.00 by Analysts at DA Davidson

Workday (NASDAQ:WDAY) had its price objective trimmed by DA Davidson from $270.00 to $230.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the software maker’s stock.

Several other equities research analysts have also commented on the stock. JMP Securities reiterated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a research report on Thursday, February 6th. BMO Capital Markets increased their price target on shares of Workday from $300.00 to $314.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Stifel Nicolaus lifted their price objective on Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. Scotiabank lowered their target price on Workday from $355.00 to $305.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Finally, Guggenheim reissued a “neutral” rating on shares of Workday in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $298.75.

Workday Stock Up 2.6 %

WDAY stock opened at $232.34 on Monday. Workday has a 52 week low of $199.81 and a 52 week high of $294.00. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market cap of $61.80 billion, a P/E ratio of 38.53, a P/E/G ratio of 3.55 and a beta of 1.32. The company’s 50-day moving average price is $247.59 and its 200 day moving average price is $252.79.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, research analysts expect that Workday will post 2.63 earnings per share for the current fiscal year.

Insider Transactions at Workday

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $265.50, for a total value of $1,607,868.00. Following the completion of the transaction, the insider now directly owns 111,324 shares of the company’s stock, valued at $29,556,522. This represents a 5.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mark S. Garfield sold 497 shares of the firm’s stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the sale, the chief accounting officer now owns 34,385 shares of the company’s stock, valued at approximately $7,789,921.75. This trade represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 321,724 shares of company stock valued at $77,976,126 over the last quarter. Company insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after buying an additional 4,517,272 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Workday by 61.9% in the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock valued at $1,193,105,000 after acquiring an additional 1,772,223 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Workday by 60.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker’s stock valued at $960,454,000 after acquiring an additional 1,406,088 shares in the last quarter. Brown Advisory Inc. lifted its stake in Workday by 1.5% during the fourth quarter. Brown Advisory Inc. now owns 3,530,701 shares of the software maker’s stock worth $911,027,000 after purchasing an additional 52,104 shares during the last quarter. Finally, FIL Ltd boosted its holdings in Workday by 6.5% in the fourth quarter. FIL Ltd now owns 2,963,124 shares of the software maker’s stock worth $764,575,000 after purchasing an additional 181,899 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Company Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; 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.