Workday (NASDAQ:WDAY) Price Target Cut to $205.00 by Analysts at DA Davidson

Workday (NASDAQ:WDAYGet Rating) had its price target lowered by DA Davidson from $220.00 to $205.00 in a report released on Tuesday morning, The Fly reports.

A number of other equities analysts also recently commented on WDAY. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Workday from $225.00 to $230.00 and gave the stock a buy rating in a research note on Friday, August 26th. Citigroup started coverage on shares of Workday in a research note on Thursday, September 1st. They issued a neutral rating and a $186.00 target price for the company. OTR Global downgraded shares of Workday to a mixed rating in a research note on Tuesday, August 23rd. BMO Capital Markets cut their target price on shares of Workday from $217.00 to $195.00 and set an outperform rating for the company in a research note on Monday. Finally, StockNews.com started coverage on shares of Workday in a research note on Wednesday, October 12th. They issued a hold rating for the company. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, Workday presently has a consensus rating of Moderate Buy and an average target price of $221.48.

Workday Price Performance

Workday stock opened at $146.29 on Tuesday. The firm has a 50-day moving average of $149.18 and a 200-day moving average of $153.22. Workday has a one year low of $128.72 and a one year high of $285.58. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.61 and a current ratio of 1.61.

Workday (NASDAQ:WDAYGet Rating) last posted its quarterly earnings data on Thursday, August 25th. The software maker reported ($0.16) EPS for the quarter, hitting analysts’ consensus estimates of ($0.16). Workday had a negative net margin of 3.46% and a negative return on equity of 2.34%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the business posted $0.49 EPS. On average, equities analysts anticipate that Workday will post -0.61 earnings per share for the current year.

Insider Transactions at Workday

In other news, insider Douglas A. Robinson sold 2,128 shares of the firm’s stock in a transaction that occurred on Saturday, October 15th. The shares were sold at an average price of $147.14, for a total transaction of $313,113.92. Following the transaction, the insider now directly owns 132,545 shares of the company’s stock, valued at $19,502,671.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Douglas A. Robinson sold 2,128 shares of the firm’s stock in a transaction that occurred on Saturday, October 15th. The shares were sold at an average price of $147.14, for a total transaction of $313,113.92. Following the transaction, the insider now directly owns 132,545 shares of the company’s stock, valued at $19,502,671.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 102,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $156.24, for a total transaction of $16,014,600.00. Following the transaction, the insider now directly owns 102,500 shares in the company, valued at $16,014,600. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 120,974 shares of company stock valued at $18,758,209. 21.74% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. AllSquare Wealth Management LLC bought a new position in Workday in the third quarter valued at approximately $25,000. Guardian Wealth Advisors LLC acquired a new stake in Workday in the third quarter valued at approximately $29,000. Sentry Investment Management LLC acquired a new stake in Workday in the first quarter valued at approximately $31,000. Whittier Trust Co. boosted its position in Workday by 69.0% in the third quarter. Whittier Trust Co. now owns 213 shares of the software maker’s stock valued at $32,000 after buying an additional 87 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its position in Workday by 72.6% in the second quarter. Lindbrook Capital LLC now owns 252 shares of the software maker’s stock valued at $35,000 after buying an additional 106 shares in the last quarter. 68.16% of the stock is owned by institutional investors.

About Workday

(Get Rating)

Workday, Inc provides enterprise cloud applications in the United States and internationally. The company's applications help its customers to plan, execute, analyze, and extend to other applications and environments, and to manage their business and operations. It 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.

Further Reading

The Fly logo

Analyst Recommendations for Workday (NASDAQ:WDAY)

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.