Workday (NASDAQ:WDAY) PT Lowered to $300.00

Workday (NASDAQ:WDAY) had its target price cut by Royal Bank of Canada from $310.00 to $300.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Royal Bank of Canada’s target price suggests a potential upside of 33.30% from the stock’s current price.

A number of other equities research analysts have also commented on WDAY. Wells Fargo & Company dropped their price target on Workday from $350.00 to $325.00 and set an “overweight” rating on the stock in a research report on Friday. Evercore ISI cut their price target on shares of Workday from $350.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday. UBS Group lowered their price objective on shares of Workday from $280.00 to $255.00 and set a “neutral” rating for the company in a research report on Friday. Loop Capital cut their price objective on shares of Workday from $280.00 to $240.00 and set a “hold” rating on the stock in a research report on Friday. Finally, StockNews.com lowered shares of Workday from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $281.61.

Workday Trading Down 13.7 %

NASDAQ WDAY traded down $35.85 during trading on Friday, reaching $225.05. 8,670,863 shares of the stock traded hands, compared to its average volume of 1,941,976. Workday has a fifty-two week low of $192.68 and a fifty-two week 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. The firm has a market cap of $59.41 billion, a price-to-earnings ratio of 43.67, a price-to-earnings-growth ratio of 7.75 and a beta of 1.33. The stock’s 50-day moving average price is $260.89 and its 200 day moving average price is $268.88.

Workday (NASDAQ:WDAY) last announced its quarterly 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. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. The firm’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 EPS. Analysts predict that Workday will post 1.76 EPS for the current year.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $264.89, for a total value of $14,833,840.00. Following the sale, the insider now owns 843,000 shares in the company, valued at approximately $223,302,270. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction that occurred 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 owns 165,932 shares in the company, valued at $48,749,162.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $264.89, for a total value of $14,833,840.00. Following the completion of the sale, the insider now owns 843,000 shares of the company’s stock, valued at $223,302,270. The disclosure for this sale can be found here. In the last three months, insiders sold 435,691 shares of company stock worth $117,731,569. 20.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Workday

Hedge funds and other institutional investors have recently modified their holdings of the company. Beck Bode LLC increased its position in Workday by 53.7% during the first quarter. Beck Bode LLC now owns 30,318 shares of the software maker’s stock worth $8,269,000 after acquiring an additional 10,589 shares during the period. Atria Investments Inc increased its holdings in shares of Workday by 1.2% during the first quarter. Atria Investments Inc now owns 38,296 shares of the software maker’s stock worth $10,445,000 after purchasing an additional 452 shares during the period. Swedbank AB bought a new position in shares of Workday during the first quarter worth approximately $21,906,000. Pacific Center for Financial Services raised its position in shares of Workday by 57.0% in the first quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock valued at $43,000 after buying an additional 57 shares in the last quarter. Finally, Rokos Capital Management LLP boosted its stake in shares of Workday by 332.4% in the first quarter. Rokos Capital Management LLP now owns 332,986 shares of the software maker’s stock valued at $90,839,000 after buying an additional 255,971 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

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.