Mizuho Trims Workday (NASDAQ:WDAY) Target Price to $280.00

Workday (NASDAQ:WDAY) had its price target cut by equities research analysts at Mizuho from $325.00 to $280.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Mizuho’s price target points to a potential upside of 7.32% from the company’s previous close.

Several other analysts have also weighed in on the stock. BMO Capital Markets lifted their target price on shares of Workday from $290.00 to $338.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. DA Davidson restated a “neutral” rating and issued a $300.00 price target on shares of Workday in a research report on Tuesday, February 27th. Needham & Company LLC boosted their price target on shares of Workday from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. The Goldman Sachs Group upped their target price on shares of Workday from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, Wells Fargo & Company upped their target price on shares of Workday from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $289.39.

Workday Stock Performance

NASDAQ:WDAY opened at $260.90 on Friday. The firm’s 50-day moving average is $260.89 and its 200-day moving average is $268.88. Workday has a 52-week low of $191.04 and a 52-week high of $311.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. The company has a market cap of $68.88 billion, a price-to-earnings ratio of 50.66, a PEG ratio of 7.75 and a beta of 1.33.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.20. Workday had a net margin of 19.02% and a return on equity of 4.87%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the business earned $0.16 EPS. The firm’s revenue was up 18.1% on a year-over-year basis. Equities research analysts anticipate that Workday will post 1.76 earnings per share for the current year.

Insider Activity

In other 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 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 Securities & Exchange Commission, which is available through the SEC website. In other Workday news, Director George J. Still, Jr. sold 5,000 shares of Workday 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 sale, the director now owns 105,000 shares in the company, valued at approximately $28,404,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas A. Robinson sold 411 shares of Workday stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total transaction of $109,695.90. Following the completion of the sale, the insider now owns 165,521 shares of the company’s stock, valued at approximately $44,177,554.90. The disclosure for this sale can be found here. Insiders have sold 435,691 shares of company stock valued at $117,731,569 over the last ninety days. 20.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Workday

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. ORG Partners LLC grew its holdings in shares of Workday by 1.2% during the 4th quarter. ORG Partners LLC now owns 2,856 shares of the software maker’s stock valued at $788,000 after purchasing an additional 34 shares during the last quarter. VisionPoint Advisory Group LLC grew its holdings in shares of Workday by 27.6% during the 4th quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock valued at $43,000 after purchasing an additional 34 shares during the last quarter. Carolinas Wealth Consulting LLC grew its holdings in shares of Workday by 9.7% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock valued at $106,000 after purchasing an additional 34 shares during the last quarter. Washington Trust Advisors Inc. grew its holdings in shares of Workday by 8.1% during the 4th quarter. Washington Trust Advisors Inc. now owns 481 shares of the software maker’s stock valued at $133,000 after purchasing an additional 36 shares during the last quarter. Finally, Meitav Investment House Ltd. grew its holdings in shares of Workday by 2.6% during the 4th quarter. Meitav Investment House Ltd. now owns 1,401 shares of the software maker’s stock valued at $387,000 after purchasing an additional 36 shares during the last quarter. 89.81% of the stock is 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.