Workday (NASDAQ:WDAY) Price Target Lowered to $255.00 at UBS Group

Workday (NASDAQ:WDAY) had its target price lowered by UBS Group from $280.00 to $255.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the software maker’s stock.

WDAY has been the subject of several other research reports. Wells Fargo & Company increased their target price on Workday from $300.00 to $350.00 and gave the stock an overweight rating in a research report on Tuesday, February 20th. BMO Capital Markets reduced their price objective on Workday from $338.00 to $300.00 and set an outperform rating for the company in a research report on Friday. DA Davidson reduced their price objective on Workday from $300.00 to $255.00 and set a neutral rating for the company in a research report on Friday. Morgan Stanley reduced their price objective on Workday from $330.00 to $325.00 and set an overweight rating for the company in a research report on Friday. Finally, Oppenheimer reduced their price objective on Workday from $320.00 to $300.00 and set an outperform rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $283.96.

Workday Stock Down 15.3 %

Shares of NASDAQ:WDAY opened at $220.91 on Friday. Workday has a 52-week low of $192.68 and a 52-week high of $311.28. The firm has a market capitalization of $58.32 billion, a P/E ratio of 39.80, a P/E/G ratio of 6.59 and a beta of 1.33. The stock has a 50 day moving average price of $259.94 and a 200-day moving average price of $269.56. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.20. Workday had a return on equity of 6.02% and a net margin of 19.66%. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the company earned $0.16 EPS. The business’s revenue was up 18.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Workday will post 2.5 EPS for the current fiscal year.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 843,000 shares in the company, valued at approximately $223,302,270. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Friday, April 12th. The stock was sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the transaction, the insider now directly owns 843,000 shares in the company, valued at $223,302,270. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard Harry Sauer sold 8,447 shares of Workday stock in a transaction on Monday, April 8th. The shares were sold at an average price of $268.21, for a total value of $2,265,569.87. Following the transaction, the insider now owns 66,356 shares in the company, valued at $17,797,342.76. The disclosure for this sale can be found here. Insiders have sold a total of 435,691 shares of company stock worth $117,731,569 in the last ninety days. Insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

Several institutional investors and hedge funds have recently bought and sold shares of WDAY. Beacon Capital Management LLC raised its holdings in Workday by 333.3% during the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after acquiring an additional 70 shares during the period. VisionPoint Advisory Group LLC raised its holdings in Workday by 215.4% during the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after acquiring an additional 84 shares during the period. Crewe Advisors LLC bought a new stake in Workday during the first quarter valued at about $27,000. Clear Street Markets LLC bought a new stake in Workday during the third quarter valued at about $29,000. Finally, Exchange Traded Concepts LLC raised its holdings in Workday by 1,750.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after acquiring an additional 105 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

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.