Workday (NASDAQ:WDAY) Price Target Lowered to $285.00 at Bank of America

Workday (NASDAQ:WDAY) had its price objective cut by Bank of America from $310.00 to $285.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the software maker’s stock.

Other research analysts have also issued research reports about the stock. Loop Capital upped their price objective on shares of Workday from $255.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Evercore ISI cut their price target on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. DA Davidson lifted their price objective on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Citigroup cut their target price on Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $288.14.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $253.40 on Wednesday. Workday has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a market cap of $67.15 billion, a P/E ratio of 44.15, a P/E/G ratio of 5.31 and a beta of 1.35. The business’s 50 day moving average is $248.62 and its two-hundred day moving average is $237.33. 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 announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. Workday’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 earnings per share. On average, equities analysts expect that Workday will post 2.4 EPS for the current year.

Insider Transactions at Workday

In other Workday news, Director Wayne A.I. Frederick sold 1,828 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the sale, the director now directly owns 8,674 shares of the company’s stock, valued at approximately $2,097,806.90. The trade was a 17.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total transaction of $738,934.52. Following the completion of the transaction, the insider now directly owns 85,795 shares in the company, valued at $20,228,745.10. This trade represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 359,954 shares of company stock worth $88,742,132. Corporate insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

Several large investors have recently bought and sold shares of the business. ORG Partners LLC raised its position in shares of Workday by 3,717.9% during the 2nd quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after acquiring an additional 3,123 shares during the last quarter. Grafton Street Partners Fund LP bought a new stake in Workday in the third quarter valued at about $4,424,000. ICICI Prudential Asset Management Co Ltd lifted its stake in Workday by 32.4% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after buying an additional 7,802 shares during the period. Legal & General Group Plc boosted its holdings in Workday by 7.4% during the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after buying an additional 118,180 shares during the last quarter. Finally, Atria Investments Inc grew its position in shares of Workday by 19.3% during the 3rd quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock worth $10,833,000 after buying an additional 7,175 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.