Monness Crespi & Hardt Lowers Workday (NASDAQ:WDAY) Price Target to $200.00

Workday (NASDAQ:WDAYGet Rating) had its price target cut by research analysts at Monness Crespi & Hardt to $200.00 in a research report issued on Friday, Stock Target Advisor reports. Monness Crespi & Hardt’s target price indicates a potential upside of 25.66% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus cut their price target on Workday from $275.00 to $220.00 in a research note on Friday. Societe Generale raised shares of Workday from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $306.00 to $309.00 in a report on Tuesday, March 1st. Mizuho lowered their target price on shares of Workday from $300.00 to $200.00 and set a “buy” rating for the company in a report on Friday. Exane BNP Paribas downgraded shares of Workday from an “outperform” rating to a “neutral” rating in a research report on Tuesday, March 29th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Workday from $280.00 to $235.00 in a research report on Friday. Four analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $255.58.

Shares of NASDAQ:WDAY traded down $8.99 during mid-day trading on Friday, reaching $159.16. 271,534 shares of the company’s stock were exchanged, compared to its average volume of 2,519,469. Workday has a twelve month low of $157.49 and a twelve month high of $307.81. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. The business’s fifty day moving average price is $209.50 and its 200-day moving average price is $239.37. The firm has a market capitalization of $39.79 billion, a price-to-earnings ratio of 1,589.70 and a beta of 1.39.

Workday (NASDAQ:WDAYGet Rating) last issued its earnings results on Thursday, May 26th. The software maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.02). Workday had a return on equity of 2.63% and a net margin of 0.57%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the company earned ($0.01) earnings per share. Workday’s revenue for the quarter was up 22.1% compared to the same quarter last year. Analysts predict that Workday will post -0.45 EPS for the current fiscal year.

In other news, CEO Gomez Luciano Fernandez sold 2,424 shares of Workday stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $245.07, for a total value of $594,049.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO James Bozzini sold 10,330 shares of Workday stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $218.13, for a total transaction of $2,253,282.90. Following the completion of the sale, the chief operating officer now owns 134,977 shares of the company’s stock, valued at $29,442,533.01. The disclosure for this sale can be found here. Insiders sold 256,453 shares of company stock valued at $60,374,855 over the last ninety days. Corporate insiders own 21.74% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in WDAY. Consolidated Planning Corp bought a new stake in Workday during the third quarter valued at approximately $27,000. Financial Management Professionals Inc. purchased a new position in Workday during the fourth quarter valued at approximately $27,000. Riverview Trust Co purchased a new position in Workday during the first quarter valued at approximately $27,000. Dark Forest Capital Management LP purchased a new position in Workday during the third quarter valued at approximately $28,000. Finally, Arlington Partners LLC purchased a new position in Workday during the fourth quarter valued at approximately $28,000. Institutional investors own 70.64% of the company’s stock.

About Workday (Get Rating)

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments, and to manage their business and operations. The company offers a suite of financial management applications, which enable chief financial officers to maintain accounting information in the general ledger; manage financial processes; 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.

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