Wells Fargo & Company Cuts Workday (NASDAQ:WDAY) Price Target to $325.00

Workday (NASDAQ:WDAY) had its price target lowered by Wells Fargo & Company from $360.00 to $325.00 in a report released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the software maker’s stock.

Several other analysts have also issued reports on WDAY. Morgan Stanley reduced their price objective on shares of Workday from $275.00 to $250.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. StockNews.com lowered shares of Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Oppenheimer boosted their target price on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Guggenheim restated a “neutral” rating on shares of Workday in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus lifted their price objective on Workday from $270.00 to $310.00 and gave the company a “hold” rating in a research note on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $292.86.

Workday Trading Up 5.3 %

Shares of WDAY stock opened at $236.87 on Tuesday. Workday has a twelve month low of $199.81 and a twelve month high of $294.00. The stock has a market cap of $63.01 billion, a price-to-earnings ratio of 39.28, a PEG ratio of 3.55 and a beta of 1.32. The company’s 50-day moving average price is $241.26 and its 200-day moving average price is $251.77. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. As a group, equities analysts predict that Workday will post 2.63 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Mark S. Garfield sold 497 shares of the stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the completion of the transaction, the chief accounting officer now owns 34,385 shares in the company, valued at $7,789,921.75. This trade represents a 1.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sayan Chakraborty sold 6,056 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the sale, the insider now directly owns 111,324 shares in the company, valued at approximately $29,556,522. This represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 321,724 shares of company stock valued at $77,976,126 over the last ninety days. Corporate insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

A number of institutional investors have recently bought and sold shares of the company. Bristlecone Advisors LLC raised its position in Workday by 49.6% during the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock worth $754,000 after acquiring an additional 968 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Workday by 20.5% in the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after acquiring an additional 119,769 shares during the last quarter. Burns Matteson Capital Management LLC purchased a new stake in shares of Workday in the fourth quarter valued at $369,000. Principal Financial Group Inc. boosted its stake in shares of Workday by 45.0% during the third quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker’s stock valued at $4,349,000 after acquiring an additional 5,519 shares during the last quarter. Finally, Smith Group Asset Management LLC increased its position in Workday by 9.4% during the 4th quarter. Smith Group Asset Management LLC now owns 109,013 shares of the software maker’s stock worth $28,129,000 after purchasing an additional 9,324 shares in the last quarter. 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.