Oppenheimer Cuts Workday (NASDAQ:WDAY) Price Target to $300.00

Workday (NASDAQ:WDAY) had its price target dropped by research analysts at Oppenheimer from $320.00 to $300.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the software maker’s stock. Oppenheimer’s price target would suggest a potential upside of 14.99% from the company’s current price.

WDAY has been the topic of a number of other reports. Guggenheim reiterated a “sell” rating and issued a $190.00 price objective on shares of Workday in a report on Tuesday, February 27th. KeyCorp raised their target price on shares of Workday from $310.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. UBS Group decreased their target price on shares of Workday from $315.00 to $300.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Stifel Nicolaus raised their target price on shares of Workday from $250.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday, February 27th. Finally, StockNews.com cut shares of Workday from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two 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 a consensus price target of $289.39.

Workday Price Performance

NASDAQ WDAY opened at $260.90 on Friday. 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 has a 12-month low of $191.04 and a 12-month high of $311.28. The company has a market capitalization of $68.88 billion, a PE ratio of 50.66, a price-to-earnings-growth ratio of 7.75 and a beta of 1.33. The firm’s 50 day moving average is $260.89 and its 200-day moving average is $268.88.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. Workday had a net margin of 19.02% and a return on equity of 4.87%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period last year, the company earned $0.16 earnings per share. The firm’s revenue was up 18.1% compared to the same quarter last year. Equities research analysts anticipate that Workday will post 1.76 earnings per share for the current fiscal year.

Insider Transactions at Workday

In other news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the completion of the transaction, the insider now owns 165,932 shares of the company’s stock, valued at $48,749,162.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the completion of the transaction, the insider now owns 165,932 shares in the company, valued at approximately $48,749,162.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the completion of the transaction, the insider now owns 843,000 shares of the company’s stock, valued at approximately $223,302,270. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 435,691 shares of company stock valued at $117,731,569. 20.00% of the stock is currently owned by insiders.

Institutional Trading of Workday

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