Workday (NASDAQ:WDAY) PT Lowered to $240.00

Workday (NASDAQ:WDAY) had its target price decreased by analysts at Loop Capital from $280.00 to $240.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the software maker’s stock. Loop Capital’s price target points to a potential upside of 6.64% from the stock’s current price.

Other analysts have also recently issued reports about the stock. JMP Securities restated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a research note on Friday. Guggenheim reaffirmed a “sell” rating and set a $190.00 target price on shares of Workday in a research report on Tuesday, February 27th. KeyCorp dropped their target price on shares of Workday from $330.00 to $275.00 and set an “overweight” rating on the stock in a research report on Friday. Stifel Nicolaus dropped their target price on shares of Workday from $290.00 to $250.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Bank of America dropped their target price on shares of Workday from $330.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $281.61.

Workday Stock Down 13.7 %

NASDAQ WDAY traded down $35.85 during trading on Friday, reaching $225.05. The company’s stock had a trading volume of 8,670,863 shares, compared to its average volume of 1,941,976. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $59.41 billion, a PE ratio of 43.67, a PEG ratio of 7.75 and a beta of 1.33. The business has a 50-day moving average price of $260.89 and a 200-day moving average price of $268.88. Workday has a 1-year low of $192.68 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 earnings per share. On average, research analysts forecast that Workday will post 1.76 earnings per share for the current fiscal year.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 65,221 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $268.29, for a total value of $17,498,142.09. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at $27,633,065.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Workday news, major shareholder David A. Duffield sold 65,221 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $268.29, for a total value of $17,498,142.09. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at $27,633,065.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George J. Still, Jr. sold 5,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total value of $1,352,600.00. Following the completion of the transaction, the director now owns 105,000 shares of the company’s stock, valued at $28,404,600. The disclosure for this sale can be found here. Insiders have sold 435,691 shares of company stock valued at $117,731,569 over the last ninety days. 20.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Workday

A number of hedge funds have recently made changes to their positions in WDAY. Norges Bank acquired a new position in Workday in the fourth quarter valued at approximately $1,491,149,000. Wellington Management Group LLP lifted its stake in Workday by 37.4% in the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after buying an additional 1,406,153 shares during the period. Winslow Capital Management LLC lifted its stake in Workday by 76.4% in the third quarter. Winslow Capital Management LLC now owns 2,310,619 shares of the software maker’s stock valued at $496,436,000 after buying an additional 1,000,922 shares during the period. Morgan Stanley lifted its stake in Workday by 47.0% in the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after buying an additional 872,288 shares during the period. Finally, Alkeon Capital Management LLC acquired a new position in Workday in the third quarter valued at approximately $107,425,000. 89.81% of the stock is currently owned by 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.