DA Davidson Cuts Workday (NASDAQ:WDAY) Price Target to $255.00

Workday (NASDAQ:WDAY) had its price objective decreased by DA Davidson from $300.00 to $255.00 in a research note issued to investors on Friday morning, Benzinga reports. DA Davidson currently has a neutral rating on the software maker’s stock.

A number of other analysts have also recently weighed in on WDAY. Needham & Company LLC restated a buy rating and issued a $350.00 price target on shares of Workday in a report on Friday. The Goldman Sachs Group lowered their price target on shares of Workday from $310.00 to $300.00 and set a buy rating on the stock in a report on Friday. Bank of America lowered their price target on shares of Workday from $330.00 to $310.00 and set a buy rating on the stock in a report on Thursday, May 16th. JMP Securities restated a market outperform rating and issued a $315.00 price target on shares of Workday in a report on Tuesday, February 27th. Finally, StockNews.com cut shares of Workday from a strong-buy rating to a buy rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $283.96.

Workday Trading Down 15.3 %

NASDAQ WDAY opened at $220.91 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. The company has a market capitalization of $58.32 billion, a price-to-earnings ratio of 39.80, a price-to-earnings-growth ratio of 6.59 and a beta of 1.33. The company’s 50-day simple moving average is $259.94 and its two-hundred day simple moving average is $269.56. Workday has a one year low of $192.68 and a one year high of $311.28.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 6.02%. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. Equities analysts forecast that Workday will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In other Workday news, insider Douglas A. Robinson sold 411 shares of Workday stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total transaction of $109,695.90. Following the completion of the sale, the insider now directly owns 165,521 shares in the company, valued at approximately $44,177,554.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the completion of the transaction, the insider now directly owns 843,000 shares of the company’s stock, valued at approximately $223,302,270. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Douglas A. Robinson sold 411 shares of Workday stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total transaction of $109,695.90. Following the transaction, the insider now directly owns 165,521 shares of the company’s stock, valued at $44,177,554.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 435,691 shares of company stock worth $117,731,569. Company insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

Institutional investors have recently made changes to their positions in the company. Vontobel Holding Ltd. increased its holdings in shares of Workday by 5.1% during the 4th quarter. Vontobel Holding Ltd. now owns 67,077 shares of the software maker’s stock valued at $18,517,000 after purchasing an additional 3,260 shares in the last quarter. Morgan Stanley increased its holdings in Workday by 47.0% in the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock worth $586,021,000 after acquiring an additional 872,288 shares in the last quarter. Assetmark Inc. increased its holdings in Workday by 9.9% in the 4th quarter. Assetmark Inc. now owns 21,414 shares of the software maker’s stock worth $5,912,000 after acquiring an additional 1,933 shares in the last quarter. Coldstream Capital Management Inc. purchased a new stake in Workday in the 4th quarter worth $481,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Workday by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 744,482 shares of the software maker’s stock worth $205,522,000 after acquiring an additional 26,307 shares in 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.