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

Workday (NASDAQ:WDAY) had its price objective trimmed by Evercore ISI from $350.00 to $300.00 in a research note published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the software maker’s stock.

WDAY has been the topic of several other reports. KeyCorp cut their price objective on shares of Workday from $330.00 to $275.00 and set an overweight rating on the stock in a research report on Friday. Citigroup increased their price objective on shares of Workday from $270.00 to $293.00 and gave the company a neutral rating in a research report on Tuesday, February 27th. Canaccord Genuity Group cut their price objective on shares of Workday from $305.00 to $270.00 and set a buy rating on the stock in a research report on Friday. Morgan Stanley cut their price objective on shares of Workday from $330.00 to $325.00 and set an overweight rating on the stock in a research report on Friday. Finally, The Goldman Sachs Group cut their price objective on shares of Workday from $310.00 to $300.00 and set a buy rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $283.96.

Workday Stock Down 15.3 %

NASDAQ:WDAY opened at $220.91 on Friday. The firm’s 50-day moving average price is $259.94 and its 200-day moving average price is $269.56. The company 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 current ratio of 1.97 and a quick ratio of 1.97. Workday has a 1-year low of $192.68 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last released its earnings results 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 for the quarter, compared to the consensus estimate of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 6.02%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 EPS. On average, equities analysts predict that Workday will post 2.5 EPS for the current fiscal year.

Insider Transactions at Workday

In other news, Director George J. Still, Jr. sold 5,000 shares of the 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 transaction, the director now owns 105,000 shares in the company, valued at approximately $28,404,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Workday news, insider Douglas A. Robinson sold 411 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total transaction of $109,695.90. Following the sale, the insider now owns 165,521 shares in the company, valued at approximately $44,177,554.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George J. Still, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 105,000 shares in the company, valued at approximately $28,404,600. The disclosure for this sale can be found here. Insiders have sold 435,691 shares of company stock worth $117,731,569 in the last quarter. Company insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Beacon Capital Management LLC raised its stake in Workday by 333.3% during the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after acquiring an additional 70 shares during the period. VisionPoint Advisory Group LLC grew its holdings in Workday by 215.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after buying an additional 84 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Workday during the 1st quarter valued at approximately $27,000. Clear Street Markets LLC purchased a new stake in Workday during the 3rd quarter valued at approximately $29,000. Finally, Exchange Traded Concepts LLC grew its holdings in Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after buying an additional 105 shares in the last quarter. 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.