Workday (NASDAQ:WDAY) Given New $325.00 Price Target at Wells Fargo & Company

Workday (NASDAQ:WDAY) had its price objective lowered by Wells Fargo & Company from $350.00 to $325.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the software maker’s stock.

A number of other equities research analysts have also recently commented on WDAY. DA Davidson reduced their price target on shares of Workday from $300.00 to $255.00 and set a neutral rating for the company in a report on Friday. UBS Group cut their price objective on shares of Workday from $280.00 to $255.00 and set a neutral rating on the stock in a research report on Friday. The Goldman Sachs Group decreased their target price on Workday from $310.00 to $300.00 and set a buy rating for the company in a research report on Friday. JMP Securities reiterated a market outperform rating and issued a $315.00 price target on shares of Workday in a report on Tuesday, February 27th. Finally, TD Cowen reduced their price objective on Workday from $330.00 to $290.00 and set a buy rating for the company in a research note on Friday. One research 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 stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $283.96.

Workday Stock Performance

NASDAQ:WDAY opened at $220.91 on Friday. The company has a market capitalization of $58.32 billion, a PE ratio of 39.80, a P/E/G ratio of 6.59 and a beta of 1.33. The company has a 50 day simple moving average of $259.94 and a two-hundred day simple moving average of $269.56. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. Workday has a fifty-two week low of $192.68 and a fifty-two week high of $311.28.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share 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 the consensus estimate of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 6.02%. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 EPS. Research analysts anticipate that Workday will post 2.5 earnings per share for the current year.

Insider Activity

In related news, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the transaction, the insider now directly owns 165,932 shares of the company’s stock, valued at approximately $48,749,162.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the sale, the insider now owns 165,932 shares of the company’s stock, valued at $48,749,162.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 64,329 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the completion of the transaction, 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. Insiders sold a total of 435,691 shares of company stock valued at $117,731,569 in the last ninety days. 20.00% of the stock is currently owned by insiders.

Institutional Trading of Workday

A number of large investors have recently bought and sold shares of WDAY. Beacon Capital Management LLC grew its stake in shares of Workday by 333.3% during the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after acquiring an additional 70 shares during the period. VisionPoint Advisory Group LLC raised its stake in Workday by 215.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after acquiring an additional 84 shares during the period. Crewe Advisors LLC purchased a new position in shares of Workday in the first quarter worth about $27,000. Clear Street Markets LLC bought a new stake in shares of Workday in the third quarter valued at approximately $29,000. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after buying an additional 105 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other 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.