TD Cowen Issues Pessimistic Forecast for Workday (NASDAQ:WDAY) Stock Price

Workday (NASDAQ:WDAY) had its price target reduced by equities researchers at TD Cowen from $310.00 to $290.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. TD Cowen’s target price would indicate a potential upside of 24.20% from the company’s current price.

Several other research analysts also recently commented on the stock. Oppenheimer decreased their price target on shares of Workday from $300.00 to $270.00 and set an “outperform” rating on the stock in a research note on Friday, August 22nd. Canaccord Genuity Group decreased their price target on shares of Workday from $330.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, August 22nd. Loop Capital cut their target price on shares of Workday from $285.00 to $250.00 and set a “hold” rating on the stock in a report on Friday, May 23rd. JPMorgan Chase & Co. cut their target price on shares of Workday from $295.00 to $290.00 and set an “overweight” rating on the stock in a report on Friday, August 22nd. Finally, Stifel Nicolaus cut their target price on shares of Workday from $275.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $287.48.

Workday Trading Down 0.6%

WDAY stock opened at $233.50 on Wednesday. The company has a market capitalization of $62.34 billion, a PE ratio of 108.10, a price-to-earnings-growth ratio of 3.25 and a beta of 1.12. Workday has a one year low of $205.33 and a one year high of $294.00. The company’s 50 day moving average price is $228.46 and its two-hundred day moving average price is $238.13. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.10 and a current ratio of 2.10.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, August 21st. The software maker reported $2.21 EPS for the quarter, topping the consensus estimate of $2.09 by $0.12. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.34 billion. Workday had a net margin of 6.51% and a return on equity of 9.74%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same period last year, the firm posted $1.75 earnings per share. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, analysts predict that Workday will post 2.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In other Workday news, insider Richard Harry Sauer sold 1,160 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $226.63, for a total transaction of $262,890.80. Following the transaction, the insider directly owned 96,916 shares of the company’s stock, valued at approximately $21,964,073.08. The trade was a 1.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the transaction, the chief executive officer directly owned 1,472 shares in the company, valued at approximately $352,440.96. The trade was a 80.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 326,864 shares of company stock worth $76,391,858. 19.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC increased its position in Workday by 5.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 22,645 shares of the software maker’s stock valued at $5,288,000 after purchasing an additional 1,070 shares during the period. Kingswood Wealth Advisors LLC boosted its holdings in shares of Workday by 13.9% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,136 shares of the software maker’s stock valued at $265,000 after buying an additional 139 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Workday by 33.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 32,055 shares of the software maker’s stock valued at $7,486,000 after buying an additional 8,093 shares in the last quarter. Sowell Financial Services LLC bought a new stake in shares of Workday during the 1st quarter valued at $290,000. Finally, D.A. Davidson & CO. boosted its holdings in shares of Workday by 27.8% during the 1st quarter. D.A. Davidson & CO. now owns 1,601 shares of the software maker’s stock valued at $374,000 after buying an additional 348 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

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.