BMO Capital Markets Issues Pessimistic Forecast for Workday (NASDAQ:WDAY) Stock Price

Workday (NASDAQ:WDAY) had its price target reduced by analysts at BMO Capital Markets from $285.00 to $204.00 in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has an “outperform” rating on the software maker’s stock. BMO Capital Markets’ target price points to a potential upside of 41.25% from the company’s previous close.

Several other research analysts have also commented on the company. BTIG Research cut their price objective on Workday from $285.00 to $230.00 and set a “buy” rating on the stock in a research report on Monday, February 9th. KeyCorp reduced their price target on Workday from $285.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Guggenheim restated a “buy” rating and issued a $285.00 price target on shares of Workday in a report on Wednesday, November 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Workday in a research note on Wednesday, November 26th. Finally, Wells Fargo & Company decreased their target price on shares of Workday from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $264.94.

Workday Trading Up 0.3%

NASDAQ WDAY opened at $144.42 on Tuesday. The firm has a market capitalization of $37.98 billion, a price-to-earnings ratio of 60.68, a PEG ratio of 1.23 and a beta of 1.14. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83. Workday has a one year low of $140.59 and a one year high of $281.00. The company’s 50 day moving average price is $194.49 and its 200 day moving average price is $217.19.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share (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 company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the prior year, the business earned $1.89 earnings per share. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, sell-side analysts predict that Workday will post 2.63 EPS for the current year.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 82,884 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $209.75, for a total transaction of $17,384,919.00. Following the sale, the insider owned 105,049 shares in the company, valued at $22,034,027.75. This represents a 44.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Gerrit S. Kazmaier sold 3,759 shares of Workday stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $208.73, for a total value of $784,616.07. Following the completion of the transaction, the insider owned 105,167 shares of the company’s stock, valued at approximately $21,951,507.91. The trade was a 3.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 370,321 shares of company stock valued at $78,866,401 over the last 90 days. Corporate insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Institutional investors and hedge funds have recently modified their holdings of the business. Graham Capital Management L.P. grew its position in shares of Workday by 101.2% during the 4th quarter. Graham Capital Management L.P. now owns 5,883 shares of the software maker’s stock valued at $1,264,000 after buying an additional 2,959 shares during the last quarter. Night Squared LP boosted its stake in Workday by 12.3% in the fourth quarter. Night Squared LP now owns 16,841 shares of the software maker’s stock valued at $3,617,000 after acquiring an additional 1,841 shares during the period. Magnetar Financial LLC bought a new position in shares of Workday during the fourth quarter valued at approximately $2,544,000. Opal Capital LLC acquired a new stake in shares of Workday during the 4th quarter worth approximately $430,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Workday in the 4th quarter worth approximately $38,000. 89.81% of the stock is owned by institutional investors and hedge funds.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.