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

Workday (NASDAQ:WDAY) had its price objective trimmed by Oppenheimer from $320.00 to $300.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an outperform rating on the software maker’s stock.

WDAY has been the topic of several other research reports. JPMorgan Chase & Co. lowered their target price on Workday from $310.00 to $295.00 and set an “overweight” rating for the company in a research note on Friday. DA Davidson lifted their price target on Workday from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Friday. Stifel Nicolaus dropped their price objective on Workday from $310.00 to $275.00 and set a “hold” rating for the company in a research note on Friday. BMO Capital Markets raised their target price on shares of Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Finally, Westpark Capital upped their price target on shares of Workday from $315.00 to $328.00 and gave the company a “buy” rating in a report on Friday. Nine equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus target price of $292.69.

Workday Trading Down 12.5%

WDAY stock opened at $238.01 on Friday. The company has a market capitalization of $63.31 billion, a PE ratio of 39.47, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday has a one year low of $199.81 and a one year high of $294.00. The company’s 50 day moving average price is $242.57 and its two-hundred day moving average price is $254.20.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.22. The company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.74 EPS. As a group, analysts predict that Workday will post 2.63 earnings per share for the current fiscal year.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 81,275 shares of the company’s stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total value of $17,448,117.00. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $22,111,395.96. This represents a 44.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carl M. Eschenbach sold 3,125 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total transaction of $733,156.25. Following the completion of the transaction, the chief executive officer now owns 10,847 shares of the company’s stock, valued at approximately $2,544,814.67. The trade was a 22.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 321,724 shares of company stock valued at $77,976,126. Corporate insiders own 19.31% of the company’s stock.

Hedge Funds Weigh In On Workday

A number of institutional investors and hedge funds have recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB increased its position in Workday by 65.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 273 shares of the software maker’s stock valued at $70,000 after buying an additional 108 shares in the last quarter. Koshinski Asset Management Inc. purchased a new stake in shares of Workday in the fourth quarter worth $201,000. Ballentine Partners LLC increased its holdings in shares of Workday by 8.1% during the fourth quarter. Ballentine Partners LLC now owns 2,046 shares of the software maker’s stock valued at $528,000 after acquiring an additional 154 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of Workday by 42.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 4,433 shares of the software maker’s stock valued at $1,143,000 after acquiring an additional 1,317 shares in the last quarter. Finally, Atomi Financial Group Inc. purchased a new position in shares of Workday in the 4th quarter worth about $344,000. 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.