Workday (NASDAQ:WDAY) Price Target Lowered to $300.00 at Evercore ISI

Workday (NASDAQ:WDAY) had its target price cut by Evercore ISI from $350.00 to $300.00 in a research report report published on Friday morning, Benzinga reports. They currently have an outperform rating on the software maker’s stock.

A number of other equities analysts have also recently weighed in on the stock. JMP Securities reissued a market outperform rating and set a $315.00 price target on shares of Workday in a research report on Tuesday, February 27th. Wells Fargo & Company raised their price objective on shares of Workday from $300.00 to $350.00 and gave the stock an overweight rating in a research report on Tuesday, February 20th. DA Davidson reissued a neutral rating and issued a $300.00 price objective on shares of Workday in a research note on Tuesday, February 27th. StockNews.com downgraded shares of Workday from a strong-buy rating to a buy rating in a research report on Monday, April 8th. Finally, Guggenheim reiterated a sell rating and issued a $190.00 price objective on shares of Workday in a research note on Tuesday, February 27th. One equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $283.96.

Workday Stock Performance

Shares of WDAY stock traded down $39.99 during mid-day trading on Friday, reaching $220.91. The stock had a trading volume of 15,622,846 shares, compared to its average volume of 2,392,779. Workday has a one year low of $192.68 and a one year high of $311.28. The firm has a market cap of $58.32 billion, a PE ratio of 39.80, a P/E/G ratio of 7.78 and a beta of 1.33. The firm’s 50 day simple moving average is $259.94 and its 200 day simple moving average is $268.90. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates 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 period in the previous year, the business earned $0.16 earnings per share. On average, analysts forecast that Workday will post 1.76 EPS for the current year.

Insider Buying and Selling

In other Workday news, Director George J. Still, Jr. sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $270.52, for a total transaction of $1,352,600.00. Following the completion of the sale, 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 available at the SEC website. In other Workday news, Director George J. Still, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total value of $1,352,600.00. Following the completion of the transaction, the director now directly owns 105,000 shares in the company, valued at $28,404,600. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 64,329 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $27,690,743.45. The disclosure for this sale can be found here. Insiders sold a total of 435,691 shares of company stock worth $117,731,569 in the last three months. Insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

Several institutional investors and hedge funds have recently made changes to their positions in WDAY. ORG Partners LLC increased its stake in shares of Workday by 1.2% during the fourth quarter. ORG Partners LLC now owns 2,856 shares of the software maker’s stock worth $788,000 after purchasing an additional 34 shares in the last quarter. VisionPoint Advisory Group LLC grew its position in Workday by 27.6% during the 4th quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock worth $43,000 after purchasing an additional 34 shares during the last quarter. Carolinas Wealth Consulting LLC boosted its holdings in shares of Workday by 9.7% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock valued at $106,000 after acquiring an additional 34 shares in the last quarter. Washington Trust Advisors Inc. lifted its stake in shares of Workday by 8.1% in the fourth quarter. Washington Trust Advisors Inc. now owns 481 shares of the software maker’s stock valued at $133,000 after purchasing an additional 36 shares during the period. Finally, Meitav Investment House Ltd. boosted its position in shares of Workday by 2.6% in the 4th quarter. Meitav Investment House Ltd. now owns 1,401 shares of the software maker’s stock worth $387,000 after buying an additional 36 shares in the last quarter. 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.