Workday (NASDAQ:WDAY) Price Target Lowered to $280.00 at Mizuho

Workday (NASDAQ:WDAY) had its price objective cut by Mizuho from $325.00 to $280.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a buy rating on the software maker’s stock.

A number of other equities analysts also recently issued reports on the company. Stifel Nicolaus upped their price target on Workday from $250.00 to $290.00 and gave the stock a hold rating in a research report on Tuesday, February 27th. Wells Fargo & Company increased their price objective on shares of Workday from $300.00 to $350.00 and gave the company an overweight rating in a research report on Tuesday, February 20th. UBS Group lowered their price objective on shares of Workday from $315.00 to $300.00 and set a neutral rating for the company in a research note on Tuesday, February 27th. JPMorgan Chase & Co. raised their target price on Workday from $260.00 to $300.00 and gave the stock an overweight rating in a research note on Thursday, February 22nd. Finally, Oppenheimer dropped their price target on Workday from $320.00 to $300.00 and set an outperform rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $283.96.

Workday Trading Down 15.3 %

NASDAQ:WDAY traded down $39.99 during midday trading on Friday, hitting $220.91. The stock had a trading volume of 15,622,846 shares, compared to its average volume of 2,392,779. The stock has a 50-day moving average of $259.94 and a 200 day moving average of $268.90. The company has a market capitalization of $58.32 billion, a price-to-earnings ratio of 39.80, a PEG ratio of 7.78 and a beta of 1.33. Workday has a one year low of $192.68 and a one year high of $311.28. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.20. Workday had a return on equity of 6.02% and a net margin of 19.66%. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter last year, the firm earned $0.16 EPS. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, sell-side analysts forecast that Workday will post 1.76 EPS for the current year.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 64,329 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $27,690,743.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Workday news, major shareholder David A. Duffield sold 64,329 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $268.85, for a total value of $17,294,851.65. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at $27,690,743.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the transaction, the insider now directly owns 165,932 shares in the company, valued at $48,749,162.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 435,691 shares of company stock worth $117,731,569. 20.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Workday

Several hedge funds have recently added to or reduced their stakes in WDAY. Beacon Capital Management LLC boosted its holdings in Workday by 333.3% in the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after acquiring an additional 70 shares during the last quarter. VisionPoint Advisory Group LLC increased its position in Workday by 215.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after purchasing an additional 84 shares in the last quarter. Crewe Advisors LLC purchased a new position in Workday in the first quarter valued at approximately $27,000. Clear Street Markets LLC acquired a new position in Workday during the third quarter valued at approximately $29,000. Finally, Exchange Traded Concepts LLC grew its stake in Workday by 1,750.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after buying an additional 105 shares during the period. 89.81% of the stock is currently 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.