Workday (NASDAQ:WDAY) Price Target Cut to $300.00 by Analysts at Oppenheimer

Workday (NASDAQ:WDAY) had its target price decreased by Oppenheimer from $320.00 to $300.00 in a research report report published on Friday, Benzinga reports. Oppenheimer currently has an outperform rating on the software maker’s stock.

Other equities research analysts have also recently issued reports about the stock. Mizuho boosted their price target on shares of Workday from $290.00 to $325.00 and gave the company a buy rating in a research report on Tuesday, February 27th. Needham & Company LLC raised their target price on shares of Workday from $300.00 to $350.00 and gave the stock a buy rating in a research report on Tuesday, February 27th. JMP Securities reiterated a market outperform rating and issued a $315.00 price target on shares of Workday in a research report on Tuesday, February 27th. Bank of America dropped their price objective on shares of Workday from $330.00 to $310.00 and set a buy rating on the stock in a research note on Thursday, May 16th. Finally, Barclays dropped their price target on shares of Workday from $326.00 to $316.00 and set an overweight rating on the stock in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, Workday has a consensus rating of Moderate Buy and a consensus target price of $283.96.

Workday Stock Down 15.3 %

Shares of WDAY traded down $39.99 during midday trading on Friday, reaching $220.91. The stock had a trading volume of 15,622,846 shares, compared to its average volume of 2,392,779. The company has a market cap of $58.32 billion, a price-to-earnings ratio of 39.80, a PEG ratio of 7.78 and a beta of 1.33. The company’s fifty day simple moving average is $259.94 and its two-hundred day simple moving average is $268.90. Workday has a 1-year low of $192.68 and a 1-year high of $311.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.20. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Workday had a return on equity of 6.02% and a net margin of 19.66%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 EPS. Equities research analysts expect that Workday will post 1.76 earnings per share for the current year.

Insider Activity at Workday

In other news, insider Richard Harry Sauer sold 8,447 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $268.21, for a total transaction of $2,265,569.87. Following the transaction, the insider now owns 66,356 shares of the company’s stock, valued at $17,797,342.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Richard Harry Sauer sold 8,447 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $268.21, for a total transaction of $2,265,569.87. Following the completion of the transaction, the insider now directly owns 66,356 shares in the company, valued at $17,797,342.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 64,329 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 102,997 shares in the company, valued at $27,690,743.45. The disclosure for this sale can be found here. In the last three months, insiders sold 435,691 shares of company stock valued at $117,731,569. Corporate insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. ORG Partners LLC grew its holdings in shares of Workday by 1.2% during the 4th quarter. ORG Partners LLC now owns 2,856 shares of the software maker’s stock valued at $788,000 after acquiring an additional 34 shares in the last quarter. VisionPoint Advisory Group LLC raised its stake in shares of Workday by 27.6% during the 4th quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock worth $43,000 after purchasing an additional 34 shares in the last quarter. Carolinas Wealth Consulting LLC grew its stake in shares of Workday by 9.7% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock valued at $106,000 after buying an additional 34 shares in the last quarter. Washington Trust Advisors Inc. increased its holdings in Workday by 8.1% in the fourth quarter. Washington Trust Advisors Inc. now owns 481 shares of the software maker’s stock worth $133,000 after buying an additional 36 shares during the last quarter. Finally, Meitav Investment House Ltd. grew its position in Workday by 2.6% in the fourth quarter. Meitav Investment House Ltd. now owns 1,401 shares of the software maker’s stock worth $387,000 after acquiring an additional 36 shares in the last quarter. 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.