Workday (NASDAQ:WDAY) Price Target Lowered to $300.00 at The Goldman Sachs Group

Workday (NASDAQ:WDAY) had its target price lowered by The Goldman Sachs Group from $310.00 to $300.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

A number of other research firms also recently weighed in on WDAY. Barclays decreased their target price on shares of Workday from $326.00 to $316.00 and set an overweight rating for the company in a research report on Tuesday, February 27th. Stifel Nicolaus decreased their target price on shares of Workday from $290.00 to $250.00 and set a hold rating for the company in a research report on Friday. DA Davidson reissued a neutral rating and set a $300.00 target price on shares of Workday in a research report on Tuesday, February 27th. Citigroup increased their target price on shares of Workday from $270.00 to $293.00 and gave the company a neutral rating in a research report on Tuesday, February 27th. Finally, Oppenheimer decreased their target price on shares of Workday from $320.00 to $300.00 and set an outperform rating for the company in a research report on Friday. One investment 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. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $283.96.

Workday Price Performance

Shares of WDAY stock traded down $39.99 on Friday, reaching $220.91. The company had a trading volume of 15,622,846 shares, compared to its average volume of 2,392,779. The business’s 50-day moving average is $259.94 and its 200 day moving average is $268.90. The stock has a market capitalization of $58.32 billion, a PE ratio of 39.80, a price-to-earnings-growth ratio of 7.78 and a beta of 1.33. Workday has a one year low of $192.68 and a one year 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.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 6.02%. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the business earned $0.16 EPS. Equities research analysts forecast that Workday will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In other Workday news, Director George J. Still, Jr. sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $270.52, for a total transaction of $1,352,600.00. Following the transaction, the director now directly owns 105,000 shares in the company, valued at approximately $28,404,600. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director George J. Still, Jr. sold 5,000 shares of Workday stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $270.52, for a total transaction of $1,352,600.00. Following the sale, the director now directly owns 105,000 shares in the company, valued at approximately $28,404,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas A. Robinson sold 411 shares of Workday stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total value of $109,695.90. Following the sale, the insider now owns 165,521 shares in the company, valued at $44,177,554.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 435,691 shares of company stock worth $117,731,569. Corporate insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Workday by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after acquiring an additional 324,540 shares during the period. Norges Bank purchased a new position in Workday during the 4th quarter valued at about $1,491,149,000. Wellington Management Group LLP grew its holdings in Workday by 37.4% during the 3rd quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after buying an additional 1,406,153 shares in the last quarter. Polen Capital Management LLC grew its holdings in Workday by 2.0% during the 3rd quarter. Polen Capital Management LLC now owns 3,950,320 shares of the software maker’s stock valued at $848,726,000 after buying an additional 78,352 shares in the last quarter. Finally, Sustainable Growth Advisers LP grew its holdings in Workday by 9.7% during the 1st quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after buying an additional 301,463 shares in the last quarter. 89.81% of the stock is currently owned by 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.