Deutsche Bank Trims Workday (NASDAQ:WDAY) Target Price to $185.00

Workday (NASDAQ:WDAY) had its price target cut by analysts at Deutsche Bank from $200.00 to $185.00 in a research note issued on Wednesday, The Fly reports. The firm currently has a “hold” rating on the software maker’s stock. Deutsche Bank’s price objective would indicate a potential upside of 19.53% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Northland Securities set a $225.00 price objective on shares of Workday and gave the company a “hold” rating in a report on Friday, August 30th. Stifel Nicolaus boosted their price objective on shares of Workday from $195.00 to $210.00 and gave the company a “hold” rating in a report on Friday, August 30th. Mizuho set a $225.00 price objective on shares of Workday and gave the company a “buy” rating in a report on Friday, August 30th. ValuEngine lowered shares of Workday from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Citigroup raised shares of Workday from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $138.00 to $192.00 in a report on Friday, August 30th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $211.00.

Shares of WDAY traded down $3.06 during trading hours on Wednesday, reaching $154.77. 193,588 shares of the company traded hands, compared to its average volume of 1,911,194. The stock has a market capitalization of $41.26 billion, a P/E ratio of -126.61 and a beta of 1.53. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. Workday has a 12-month low of $117.72 and a 12-month high of $226.83. The business has a fifty day moving average price of $173.32 and a 200-day moving average price of $195.59.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 29th. The software maker reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.05). The company had revenue of $887.75 million for the quarter, compared to analysts’ expectations of $872.44 million. Workday had a negative net margin of 15.25% and a negative return on equity of 15.05%. Workday’s quarterly revenue was up 32.2% compared to the same quarter last year. During the same period last year, the firm earned $0.31 earnings per share. As a group, research analysts predict that Workday will post -1.16 EPS for the current fiscal year.

In other Workday news, Director David A. Duffield sold 271 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $184.71, for a total value of $50,056.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Aneel Bhusri sold 6,355 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $184.02, for a total transaction of $1,169,447.10. The disclosure for this sale can be found here. Insiders have sold 1,099,707 shares of company stock valued at $189,341,183 over the last 90 days. 29.80% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of WDAY. Banco de Sabadell S.A acquired a new position in shares of Workday in the second quarter worth about $31,000. San Francisco Sentry Investment Group CA raised its position in shares of Workday by 445.7% in the third quarter. San Francisco Sentry Investment Group CA now owns 191 shares of the software maker’s stock worth $33,000 after acquiring an additional 156 shares during the period. Carroll Financial Associates Inc. raised its position in shares of Workday by 47.4% in the second quarter. Carroll Financial Associates Inc. now owns 168 shares of the software maker’s stock worth $34,000 after acquiring an additional 54 shares during the period. North Star Investment Management Corp. acquired a new position in shares of Workday in the third quarter worth about $34,000. Finally, Advantage Investment Management LLC raised its position in shares of Workday by 89.0% in the second quarter. Advantage Investment Management LLC now owns 189 shares of the software maker’s stock worth $39,000 after acquiring an additional 89 shares during the period. Institutional investors and hedge funds own 66.61% of the company’s stock.

About Workday

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.

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