Workday (NASDAQ:WDAY) Price Target Cut to $200.00 by Analysts at Oppenheimer

Workday (NASDAQ:WDAY) had its price target decreased by equities researchers at Oppenheimer from $270.00 to $200.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the software maker’s stock. Oppenheimer’s target price suggests a potential upside of 38.48% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Needham & Company LLC restated a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Thursday, February 5th. KeyCorp dropped their price target on Workday from $285.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Sanford C. Bernstein reduced their price objective on shares of Workday from $304.00 to $298.00 and set an “outperform” rating for the company in a research report on Wednesday, November 26th. Barclays lowered their price objective on shares of Workday from $280.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, January 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Workday in a research note on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $262.82.

Workday Trading Up 0.3%

WDAY opened at $144.42 on Tuesday. Workday has a twelve month low of $140.59 and a twelve month high of $281.00. The company has a fifty day moving average of $194.49 and a 200-day moving average of $217.19. The stock has a market cap of $37.98 billion, a PE ratio of 60.68, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, sell-side analysts predict that Workday will post 2.63 EPS for the current year.

Insider Activity

In related news, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $208.75, for a total value of $1,252,500.00. Following the sale, the chief financial officer owned 159,158 shares in the company, valued at $33,224,232.50. This represents a 3.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert Enslin sold 22,185 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $210.17, for a total transaction of $4,662,621.45. Following the completion of the transaction, the insider directly owned 106,330 shares in the company, valued at approximately $22,347,376.10. The trade was a 17.26% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 370,321 shares of company stock valued at $78,866,401. 20.00% of the stock is currently owned by insiders.

Institutional Trading of Workday

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rakuten Securities Inc. bought a new position in shares of Workday in the second quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC bought a new stake in Workday during the third quarter worth $26,000. DT Investment Partners LLC purchased a new stake in Workday in the 4th quarter valued at $27,000. LRI Investments LLC bought a new position in Workday during the 4th quarter valued at $29,000. Finally, JPL Wealth Management LLC bought a new position in Workday during the 3rd quarter valued at $30,000. 89.81% of the stock is owned by institutional investors.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.