Workday (NASDAQ:WDAY) PT Lowered to $285.00

Workday (NASDAQ:WDAY) had its price target reduced by JPMorgan Chase & Co. from $300.00 to $285.00 in a report issued on Friday, Benzinga reports. They currently have an overweight rating on the software maker’s stock.

WDAY has been the topic of a number of other research reports. UBS Group lowered their target price on shares of Workday from $280.00 to $255.00 and set a neutral rating on the stock in a report on Friday. TheStreet raised shares of Workday from a c rating to a b- rating in a report on Monday, February 26th. Oppenheimer lowered their target price on shares of Workday from $320.00 to $300.00 and set an outperform rating on the stock in a report on Friday. Stifel Nicolaus lowered their target price on shares of Workday from $290.00 to $250.00 and set a hold rating on the stock in a report on Friday. Finally, Wells Fargo & Company lowered their target price on shares of Workday from $350.00 to $325.00 and set an overweight rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $283.96.

Workday Trading Down 15.3 %

NASDAQ:WDAY opened at $220.91 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $58.32 billion, a PE ratio of 39.80, a price-to-earnings-growth ratio of 6.59 and a beta of 1.33. The firm’s 50 day moving average is $259.94 and its 200 day moving average is $269.56. Workday has a 12 month low of $192.68 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 6.02%. Workday’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 EPS. Sell-side analysts expect that Workday will post 2.5 earnings per share for the current year.

Insider Activity

In other news, Director George J. Still, Jr. sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total transaction of $1,352,600.00. Following the completion of the transaction, the director now directly owns 105,000 shares of the company’s stock, valued at $28,404,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director George J. Still, Jr. sold 5,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total value of $1,352,600.00. Following the completion of the transaction, the director now directly owns 105,000 shares of the company’s stock, valued at $28,404,600. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the transaction, the insider now directly owns 165,932 shares of the company’s stock, valued at $48,749,162.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 435,691 shares of company stock valued at $117,731,569. Insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

A number of institutional investors have recently bought and sold shares of WDAY. Norges Bank bought a new position in Workday in the fourth quarter worth about $1,491,149,000. Wellington Management Group LLP increased its stake in shares of Workday by 37.4% during the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after purchasing an additional 1,406,153 shares in the last quarter. Winslow Capital Management LLC increased its stake in shares of Workday by 76.4% during the third quarter. Winslow Capital Management LLC now owns 2,310,619 shares of the software maker’s stock valued at $496,436,000 after purchasing an additional 1,000,922 shares in the last quarter. Morgan Stanley increased its stake in shares of Workday by 47.0% during the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after purchasing an additional 872,288 shares in the last quarter. Finally, Alkeon Capital Management LLC bought a new position in shares of Workday during the third quarter valued at approximately $107,425,000. 89.81% of the stock is owned by institutional investors.

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.