DA Davidson Lowers Workday (NASDAQ:WDAY) Price Target to $250.00

Workday (NASDAQ:WDAY) had its target price cut by analysts at DA Davidson from $260.00 to $250.00 in a report released on Wednesday, MarketBeat.com reports. The firm currently has a “hold” rating on the software maker’s stock. DA Davidson’s price objective suggests a potential upside of 16.10% from the stock’s previous close. DA Davidson also issued estimates for Workday’s Q4 2026 earnings at $1.10 EPS.

Several other research analysts have also commented on the company. Evercore ISI raised their price target on Workday from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. Wells Fargo & Company cut their price objective on Workday from $300.00 to $290.00 and set an “overweight” rating on the stock in a report on Wednesday. Morgan Stanley increased their target price on Workday from $255.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Wednesday. KeyCorp dropped their target price on Workday from $285.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Macquarie reiterated a “buy” rating on shares of Workday in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and an average target price of $282.70.

Workday Price Performance

Shares of WDAY opened at $215.34 on Wednesday. The firm has a 50-day simple moving average of $233.59 and a two-hundred day simple moving average of $236.32. The stock has a market cap of $57.50 billion, a PE ratio of 90.48, a P/E/G ratio of 2.67 and a beta of 1.11. Workday has a 1-year low of $205.33 and a 1-year high of $294.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 2.10.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, topping the consensus estimate of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same period in the prior year, the business posted $1.89 EPS. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, analysts forecast that Workday will post 2.63 EPS for the current year.

Insiders Place Their Bets

In other news, Director Michael M. Mcnamara sold 5,393 shares of the business’s stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $235.16, for a total transaction of $1,268,217.88. Following the completion of the transaction, the director directly owned 24,078 shares of the company’s stock, valued at approximately $5,662,182.48. The trade was a 18.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Richard Harry Sauer sold 2,320 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $235.87, for a total transaction of $547,218.40. Following the sale, the insider owned 90,077 shares in the company, valued at $21,246,461.99. The trade was a 2.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 264,933 shares of company stock worth $61,475,760. Corporate insiders own 19.31% of the company’s stock.

Institutional Investors Weigh In On Workday

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Workday by 3.2% in the third quarter. Vanguard Group Inc. now owns 21,799,056 shares of the software maker’s stock valued at $5,247,687,000 after buying an additional 684,872 shares during the last quarter. State Street Corp lifted its holdings in Workday by 0.8% during the 3rd quarter. State Street Corp now owns 9,674,568 shares of the software maker’s stock worth $2,328,959,000 after buying an additional 74,052 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Workday by 47.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock worth $1,406,463,000 after acquiring an additional 1,882,391 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Workday by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 4,952,938 shares of the software maker’s stock worth $1,183,112,000 after acquiring an additional 140,042 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Workday by 47.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker’s stock valued at $879,147,000 after acquiring an additional 1,211,659 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

About Workday

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.