Workday (NASDAQ:WDAY) Price Target Cut to $300.00

Workday (NASDAQ:WDAY) had its price target cut by Needham & Company LLC from $350.00 to $300.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the software maker’s stock.

Other equities research analysts have also issued reports about the stock. Guggenheim reaffirmed a sell rating and issued a $190.00 price objective on shares of Workday in a research note on Tuesday, June 25th. Piper Sandler upped their price target on shares of Workday from $262.00 to $285.00 and gave the company an overweight rating in a research report on Friday, August 23rd. TD Cowen dropped their price objective on Workday from $330.00 to $290.00 and set a buy rating on the stock in a research note on Friday, May 24th. Robert W. Baird cut their target price on Workday from $316.00 to $265.00 and set an outperform rating on the stock in a research report on Friday, May 24th. Finally, KeyCorp lifted their target price on Workday from $275.00 to $305.00 and gave the stock an overweight rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, Workday currently has an average rating of Moderate Buy and an average price target of $286.48.

Workday Stock Up 0.3 %

Shares of NASDAQ:WDAY opened at $248.29 on Wednesday. The firm has a market cap of $65.80 billion, a P/E ratio of 44.74, a P/E/G ratio of 5.07 and a beta of 1.35. Workday has a 12-month low of $199.81 and a 12-month high of $311.28. The business has a fifty day simple moving average of $237.48 and a 200 day simple moving average of $242.12. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period last year, the company earned $0.40 earnings per share. The firm’s revenue was up 16.5% compared to the same quarter last year. Analysts predict that Workday will post 2.39 earnings per share for the current year.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $247.59, for a total value of $14,112,630.00. Following the completion of the sale, the insider now owns 505,000 shares in the company, valued at approximately $125,032,950. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total value of $14,112,630.00. Following the transaction, the insider now owns 505,000 shares in the company, valued at approximately $125,032,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $255.45, for a total value of $1,915,875.00. Following the completion of the transaction, the director now directly owns 90,000 shares of the company’s stock, valued at $22,990,500. The disclosure for this sale can be found here. In the last quarter, insiders sold 467,402 shares of company stock worth $109,864,184. Insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

A number of large investors have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC grew its holdings in Workday by 14,495.1% during the second quarter. Anchor Investment Management LLC now owns 5,984 shares of the software maker’s stock valued at $1,338,000 after purchasing an additional 5,943 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Workday during the 2nd quarter worth $4,351,000. Sanctuary Advisors LLC purchased a new stake in Workday in the 2nd quarter worth about $6,183,000. Sycomore Asset Management bought a new stake in Workday in the 2nd quarter valued at about $15,406,000. Finally, New Century Financial Group LLC purchased a new stake in Workday during the second quarter valued at about $265,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

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.