Workday (NASDAQ:WDAY) PT Lowered to $200.00 at Canaccord Genuity Group

Workday (NASDAQ:WDAYGet Rating) had its price objective cut by equities researchers at Canaccord Genuity Group from $325.00 to $200.00 in a research note issued on Friday, The Fly reports. The firm presently has a “buy” rating on the software maker’s stock. Canaccord Genuity Group’s target price points to a potential upside of 18.94% from the stock’s current price.

Several other analysts have also weighed in on the company. Societe Generale raised Workday from a “hold” rating to a “buy” rating and upped their target price for the company from $306.00 to $309.00 in a report on Tuesday, March 1st. KeyCorp cut their target price on shares of Workday from $229.00 to $207.00 and set an “overweight” rating for the company in a research report on Friday. Evercore ISI dropped their price objective on shares of Workday from $350.00 to $325.00 and set an “outperform” rating for the company in a research note on Tuesday, March 1st. JPMorgan Chase & Co. reduced their target price on Workday from $280.00 to $235.00 in a research note on Friday. Finally, Wells Fargo & Company cut their price target on Workday from $300.00 to $240.00 in a report on Friday. Four analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, Workday has a consensus rating of “Buy” and an average price target of $267.68.

Workday stock opened at $168.15 on Friday. The company has a market cap of $42.04 billion, a P/E ratio of 1,681.50 and a beta of 1.39. Workday has a one year low of $157.49 and a one year high of $307.81. The business has a fifty day moving average of $209.50 and a two-hundred day moving average of $239.37. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03.

Workday (NASDAQ:WDAYGet Rating) last released its quarterly earnings data on Thursday, May 26th. The software maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.02). The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Workday had a return on equity of 2.63% and a net margin of 0.57%. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.01) EPS. Sell-side analysts predict that Workday will post -0.45 EPS for the current year.

In other Workday news, CEO Aneel Bhusri sold 11,722 shares of the stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $218.13, for a total value of $2,556,919.86. Following the completion of the sale, the chief executive officer now owns 361,606 shares of the company’s stock, valued at $78,877,116.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 209,657 shares of Workday stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $238.52, for a total transaction of $50,007,387.64. Following the sale, the insider now owns 104,395 shares in the company, valued at approximately $24,900,295.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 256,453 shares of company stock valued at $60,374,855. 21.74% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Evolution Wealth Advisors LLC grew its stake in Workday by 3.6% in the fourth quarter. Evolution Wealth Advisors LLC now owns 1,198 shares of the software maker’s stock worth $327,000 after purchasing an additional 42 shares in the last quarter. Tower View Investment Management & Research LLC raised its position in shares of Workday by 0.7% during the 4th quarter. Tower View Investment Management & Research LLC now owns 6,643 shares of the software maker’s stock valued at $1,815,000 after acquiring an additional 47 shares in the last quarter. Wetherby Asset Management Inc. lifted its stake in Workday by 0.3% during the fourth quarter. Wetherby Asset Management Inc. now owns 16,284 shares of the software maker’s stock worth $4,449,000 after purchasing an additional 49 shares during the last quarter. Belpointe Asset Management LLC boosted its holdings in shares of Workday by 2.8% in the 4th quarter. Belpointe Asset Management LLC now owns 1,925 shares of the software maker’s stock valued at $526,000 after buying an additional 53 shares during the period. Finally, Lloyd Advisory Services LLC. lifted its holdings in shares of Workday by 21.0% in the 4th quarter. Lloyd Advisory Services LLC. now owns 323 shares of the software maker’s stock worth $88,000 after purchasing an additional 56 shares during the last quarter. 70.64% of the stock is currently owned by hedge funds and other institutional investors.

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.

Featured Articles

The Fly logo

Analyst Recommendations for Workday (NASDAQ:WDAY)

Want More Great Investing Ideas?

Receive News & Ratings for Workday Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Workday and related companies with MarketBeat.com's FREE daily email newsletter.