Workday (NASDAQ:WDAY) Given New $285.00 Price Target at Bank of America

Workday (NASDAQ:WDAY) had its price objective trimmed by Bank of America from $310.00 to $285.00 in a report released on Wednesday,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

Other equities research analysts have also issued reports about the stock. Loop Capital raised their price objective on shares of Workday from $255.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Wells Fargo & Company boosted their price target on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Needham & Company LLC restated a “buy” rating and issued a $300.00 target price on shares of Workday in a research note on Monday. BMO Capital Markets reaffirmed an “outperform” rating and set a $300.00 price target on shares of Workday in a research note on Wednesday, September 18th. Finally, Evercore ISI cut their price objective on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $288.14.

Workday Stock Down 6.2 %

NASDAQ:WDAY opened at $253.40 on Wednesday. Workday has a 1 year low of $199.81 and a 1 year high of $311.28. The stock has a 50-day moving average price of $248.62 and a two-hundred day moving average price of $237.33. The stock has a market cap of $67.15 billion, a price-to-earnings ratio of 44.15, a PEG ratio of 5.31 and a beta of 1.35. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. Workday’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 EPS. As a group, equities analysts expect that Workday will post 2.4 earnings per share for the current year.

Insider Transactions at Workday

In other Workday news, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total value of $738,934.52. Following the completion of the sale, the insider now owns 85,795 shares in the company, valued at $20,228,745.10. The trade was a 3.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. The trade was a 39.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 359,954 shares of company stock worth $88,742,132. Company insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in shares of Workday in the third quarter worth $26,000. SouthState Corp increased its holdings in Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after buying an additional 129 shares during the period. Crewe Advisors LLC raised its position in shares of Workday by 56.6% in the 2nd quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock valued at $35,000 after buying an additional 56 shares in the last quarter. Goodman Advisory Group LLC bought a new stake in shares of Workday during the 2nd quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. increased its stake in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares during the last quarter. 89.81% of the stock is currently owned by 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.