KeyCorp Cuts Workday (NASDAQ:WDAY) Price Target to $275.00

Workday (NASDAQ:WDAYFree Report) had its price target decreased by KeyCorp from $330.00 to $275.00 in a report published on Friday, Benzinga reports. KeyCorp currently has an overweight rating on the software maker’s stock.

WDAY has been the topic of several other reports. Barclays decreased their price target on shares of Workday from $326.00 to $316.00 and set an overweight rating on the stock in a research report on Tuesday, February 27th. Stifel Nicolaus lifted their target price on Workday from $250.00 to $290.00 and gave the stock a hold rating in a research report on Tuesday, February 27th. Evercore ISI upped their price target on Workday from $310.00 to $350.00 and gave the company an outperform rating in a report on Tuesday, February 20th. Oppenheimer decreased their price objective on Workday from $320.00 to $300.00 and set an outperform rating on the stock in a report on Friday. Finally, JMP Securities reaffirmed a market outperform rating and issued a $315.00 target price on shares of Workday in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $283.96.

View Our Latest Stock Analysis on Workday

Workday Price Performance

NASDAQ WDAY opened at $220.91 on Friday. The stock has a 50-day simple moving average of $259.94 and a 200 day simple moving average of $269.56. Workday has a twelve month low of $192.68 and a twelve month high of $311.28. The stock 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 debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97.

Workday (NASDAQ:WDAYGet Free Report) last issued its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. Workday had a return on equity of 6.02% and a net margin of 19.66%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the company earned $0.16 earnings per share. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. Research analysts anticipate that Workday will post 2.5 EPS for the current year.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 65,221 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $268.29, for a total transaction of $17,498,142.09. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $27,633,065.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Workday news, Director George J. Still, Jr. sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 65,221 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $268.29, for a total transaction of $17,498,142.09. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $27,633,065.13. The disclosure for this sale can be found here. In the last 90 days, insiders sold 435,691 shares of company stock worth $117,731,569. 20.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Workday

Several large investors have recently bought and sold shares of WDAY. Cetera Advisors LLC raised its position in shares of Workday by 378.3% during the 1st quarter. Cetera Advisors LLC now owns 16,582 shares of the software maker’s stock valued at $4,523,000 after acquiring an additional 13,115 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Workday by 83.5% during the first quarter. Cetera Investment Advisers now owns 49,132 shares of the software maker’s stock worth $13,401,000 after purchasing an additional 22,351 shares during the period. Beck Bode LLC increased its holdings in Workday by 53.7% in the first quarter. Beck Bode LLC now owns 30,318 shares of the software maker’s stock valued at $8,269,000 after purchasing an additional 10,589 shares during the last quarter. Atria Investments Inc increased its holdings in Workday by 1.2% in the first quarter. Atria Investments Inc now owns 38,296 shares of the software maker’s stock valued at $10,445,000 after purchasing an additional 452 shares during the last quarter. Finally, Swedbank AB acquired a new position in Workday in the first quarter valued at about $21,906,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

About Workday

(Get Free Report)

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.

See Also

Analyst Recommendations for Workday (NASDAQ:WDAY)

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