Workday (NASDAQ:WDAY) Price Target Lowered to $250.00 at Stifel Nicolaus

Workday (NASDAQ:WDAY) had its price objective reduced by Stifel Nicolaus from $290.00 to $250.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the software maker’s stock. Stifel Nicolaus’ target price would suggest a potential downside of 4.18% from the stock’s previous close.

A number of other equities research analysts have also commented on the company. Piper Sandler decreased their price target on Workday from $330.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday. StockNews.com lowered Workday from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 8th. Evercore ISI increased their price objective on Workday from $310.00 to $350.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Bank of America decreased their price objective on Workday from $330.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $350.00 price objective on shares of Workday in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $286.71.

Workday Trading Up 0.4 %

WDAY stock opened at $260.90 on Friday. Workday has a 1-year low of $191.04 and a 1-year high of $311.28. The firm has a market cap of $68.88 billion, a P/E ratio of 50.66, a P/E/G ratio of 7.75 and a beta of 1.33. The business’s 50 day moving average is $260.89 and its 200-day moving average is $268.88. The company has a current ratio of 1.97, a quick 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, topping analysts’ consensus estimates of $0.31 by $0.20. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. Workday’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.16 EPS. Equities analysts anticipate that Workday will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Workday news, insider Douglas A. Robinson sold 411 shares of Workday stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total value of $109,695.90. Following the sale, the insider now owns 165,521 shares of the company’s stock, valued at approximately $44,177,554.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $264.89, for a total value of $14,833,840.00. Following the sale, the insider now owns 843,000 shares of the company’s stock, valued at approximately $223,302,270. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas A. Robinson sold 411 shares of Workday stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total value of $109,695.90. Following the completion of the sale, the insider now directly owns 165,521 shares in the company, valued at approximately $44,177,554.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 435,691 shares of company stock valued at $117,731,569. 20.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Workday

Several hedge funds have recently modified their holdings of WDAY. Yousif Capital Management LLC grew its holdings in shares of Workday by 4.9% in the 3rd quarter. Yousif Capital Management LLC now owns 2,266 shares of the software maker’s stock valued at $487,000 after acquiring an additional 105 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Workday by 1.2% in the 3rd quarter. Private Advisor Group LLC now owns 9,548 shares of the software maker’s stock valued at $2,051,000 after acquiring an additional 112 shares in the last quarter. MGO One Seven LLC grew its holdings in shares of Workday by 17.4% in the 3rd quarter. MGO One Seven LLC now owns 1,713 shares of the software maker’s stock valued at $368,000 after acquiring an additional 254 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of Workday by 10.6% in the 3rd quarter. Corient Private Wealth LLC now owns 33,330 shares of the software maker’s stock valued at $7,254,000 after acquiring an additional 3,188 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Workday by 9.4% in the 3rd quarter. Signaturefd LLC now owns 3,380 shares of the software maker’s stock valued at $726,000 after acquiring an additional 291 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.