Workday (NASDAQ:WDAY) Price Target Cut to $260.00

Workday (NASDAQ:WDAY) had its price target dropped by stock analysts at Wells Fargo & Company from $275.00 to $260.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the software maker’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 20.15% from the company’s previous close.

WDAY has been the topic of several other research reports. UBS Group lowered their target price on shares of Workday from $280.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Evercore ISI cut their price objective on Workday from $350.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Piper Sandler decreased their target price on Workday from $280.00 to $262.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Needham & Company LLC reissued a “buy” rating and set a $350.00 price target on shares of Workday in a research note on Friday, May 24th. Finally, KeyCorp reduced their price objective on Workday from $330.00 to $275.00 and set an “overweight” rating on the stock in a research note on Friday, May 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $280.89.

Workday Stock Up 2.8 %

Shares of WDAY stock opened at $216.39 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00. Workday has a one year low of $199.81 and a one year high of $311.28. The company’s fifty day moving average price is $220.15 and its 200-day moving average price is $250.93. The company has a market capitalization of $57.34 billion, a price-to-earnings ratio of 38.99, a PEG ratio of 5.34 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. Workday had a return on equity of 5.78% 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 quarter in the prior year, the company posted $0.16 earnings per share. Sell-side analysts expect that Workday will post 2.12 EPS for the current fiscal year.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 82,762 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $210.28, for a total value of $17,403,193.36. Following the sale, the insider now owns 102,997 shares in the company, valued at $21,658,209.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Richard Harry Sauer sold 3,134 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $226.67, for a total value of $710,383.78. Following the transaction, the insider now owns 92,014 shares of the company’s stock, valued at $20,856,813.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 82,762 shares of Workday stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $210.28, for a total value of $17,403,193.36. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $21,658,209.16. The disclosure for this sale can be found here. In the last three months, insiders sold 524,672 shares of company stock valued at $115,938,834. Insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

Several institutional investors have recently made changes to their positions in the company. Crewe Advisors LLC bought a new position in Workday during the 1st quarter worth about $27,000. Sound Income Strategies LLC boosted its stake in shares of Workday by 74.2% during the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after purchasing an additional 49 shares in the last quarter. SouthState Corp boosted its stake in shares of Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after purchasing an additional 129 shares in the last quarter. VisionPoint Advisory Group LLC increased its holdings in Workday by 27.6% during the fourth quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock valued at $43,000 after buying an additional 34 shares during the period. Finally, Pacific Center for Financial Services raised its stake in Workday by 57.0% in the first quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock worth $43,000 after buying an additional 57 shares in the last quarter. Hedge funds and other institutional investors 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.