Workday (NASDAQ:WDAY) Price Target Cut to $230.00 by Analysts at DA Davidson

Workday (NASDAQ:WDAY) had its price target trimmed by DA Davidson from $270.00 to $230.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the software maker’s stock.

A number of other equities research analysts have also recently weighed in on WDAY. Piper Sandler lifted their price target on Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. JMP Securities reiterated a “market outperform” rating and set a $315.00 price target on shares of Workday in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and raised their price target for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. Redburn Atlantic started coverage on shares of Workday in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, Daiwa America upgraded shares of Workday to a “strong-buy” rating in a research note on Tuesday, March 4th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $298.75.

Workday Trading Up 2.6 %

NASDAQ:WDAY opened at $232.34 on Monday. The firm has a market capitalization of $61.80 billion, a P/E ratio of 38.53, a P/E/G ratio of 3.55 and a beta of 1.32. The business has a 50 day simple moving average of $247.59 and a 200 day simple moving average of $252.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday has a 12-month low of $199.81 and a 12-month high of $294.00.

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 the consensus estimate of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Equities research analysts predict that Workday will post 2.63 EPS for the current year.

Insider Buying and Selling at Workday

In other news, CAO Mark S. Garfield sold 497 shares of the stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $226.55, for a total transaction of $112,595.35. Following the transaction, the chief accounting officer now owns 34,385 shares of the company’s stock, valued at approximately $7,789,921.75. This represents a 1.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 81,275 shares of the business’s stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total value of $17,448,117.00. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $22,111,395.96. This trade represents a 44.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 321,724 shares of company stock worth $77,976,126 over the last ninety days. 20.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of WDAY. Simplicity Wealth LLC lifted its holdings in shares of Workday by 3.0% during the fourth quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock worth $330,000 after buying an additional 37 shares during the last quarter. Marcum Wealth LLC raised its stake in Workday by 4.4% during the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after purchasing an additional 41 shares during the last quarter. Custom Index Systems LLC boosted its holdings in Workday by 3.0% in the 4th quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock valued at $364,000 after purchasing an additional 41 shares during the period. AllSquare Wealth Management LLC grew its position in Workday by 19.4% in the 4th quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock worth $65,000 after purchasing an additional 41 shares during the last quarter. Finally, CreativeOne Wealth LLC increased its holdings in shares of Workday by 1.5% during the 4th quarter. CreativeOne Wealth LLC now owns 2,889 shares of the software maker’s stock worth $745,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds 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.