UBS Group Issues Pessimistic Forecast for Workday (NASDAQ:WDAY) Stock Price

Workday (NASDAQ:WDAY) had its price objective lowered by stock analysts at UBS Group from $250.00 to $240.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. UBS Group’s target price would indicate a potential upside of 13.99% from the stock’s current price.

WDAY has been the topic of a number of other research reports. Oppenheimer reiterated an “outperform” rating on shares of Workday in a research note on Wednesday. Sanford C. Bernstein lowered their price target on shares of Workday from $304.00 to $298.00 and set an “outperform” rating on the stock in a research report on Wednesday. Bank of America decreased their target price on shares of Workday from $295.00 to $278.00 and set a “buy” rating on the stock in a research report on Tuesday, August 19th. Citizens Jmp reiterated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research note on Wednesday. Finally, JPMorgan Chase & Co. lowered their price objective on Workday from $295.00 to $290.00 and set an “overweight” rating on the stock in a research note on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average price target of $284.50.

Workday Stock Down 9.9%

WDAY stock traded down $23.15 during trading hours on Wednesday, reaching $210.54. 3,621,953 shares of the stock were exchanged, compared to its average volume of 2,589,427. The company has a market cap of $56.21 billion, a price-to-earnings ratio of 97.01, a PEG ratio of 2.83 and a beta of 1.11. The firm’s 50-day moving average is $234.34 and its 200-day moving average is $236.62. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.10 and a quick ratio of 2.10. Workday has a 12 month low of $205.33 and a 12 month high of $294.00.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.15. Workday had a net margin of 6.51% and a return on equity of 9.74%. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities research analysts expect that Workday will post 2.63 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 75,053 shares of the stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $236.34, for a total transaction of $17,738,026.02. Following the transaction, the insider owned 102,997 shares of the company’s stock, valued at $24,342,310.98. This represents a 42.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mark S. Garfield sold 1,915 shares of the firm’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $238.96, for a total transaction of $457,608.40. Following the completion of the transaction, the chief accounting officer directly owned 37,351 shares in the company, valued at $8,925,394.96. This trade represents a 4.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 264,933 shares of company stock worth $61,475,760 over the last ninety days. 20.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Workday

Several institutional investors and hedge funds have recently added to or reduced their stakes in WDAY. Rakuten Securities Inc. bought a new position in Workday during the second quarter valued at about $25,000. Measured Wealth Private Client Group LLC purchased a new stake in Workday during the third quarter valued at about $26,000. JPL Wealth Management LLC bought a new stake in Workday during the 3rd quarter valued at $30,000. Berbice Capital Management LLC boosted its stake in Workday by 136.4% in the 2nd quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock worth $31,000 after purchasing an additional 75 shares during the period. Finally, Dagco Inc. purchased a new stake in shares of Workday in the first quarter worth $31,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

About Workday

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.