Stifel Nicolaus Lowers Workday (NASDAQ:WDAY) Price Target to $180.00

Workday (NASDAQ:WDAY) had its price target decreased by stock analysts at Stifel Nicolaus from $210.00 to $180.00 in a research note issued on Wednesday, The Fly reports. Stifel Nicolaus’ target price suggests a potential upside of 18.11% from the company’s current price.

Several other research firms have also recently commented on WDAY. Jefferies Financial Group reduced their target price on Workday from $194.00 to $188.00 and set a “hold” rating for the company in a research note on Tuesday, October 8th. Mizuho set a $225.00 target price on Workday and gave the company a “buy” rating in a research note on Friday, August 30th. Northland Securities set a $225.00 target price on Workday and gave the company a “hold” rating in a research note on Friday, August 30th. Monness Crespi & Hardt set a $262.00 target price on Workday and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Royal Bank of Canada reduced their target price on Workday from $225.00 to $212.00 and set an “outperform” rating for the company in a research note on Wednesday. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $211.00.

NASDAQ WDAY traded down $5.43 on Wednesday, reaching $152.40. The company had a trading volume of 115,515 shares, compared to its average volume of 1,911,194. The firm has a market capitalization of $41.26 billion, a PE ratio of -124.76 and a beta of 1.53. Workday has a 1 year low of $117.72 and a 1 year high of $226.83. The firm has a 50-day moving average of $173.32 and a 200-day moving average of $195.59. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 29th. The software maker reported ($0.38) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.05). The business had revenue of $887.75 million for the quarter, compared to analysts’ expectations of $872.44 million. Workday had a negative net margin of 15.25% and a negative return on equity of 15.05%. The business’s quarterly revenue was up 32.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.31 earnings per share. As a group, sell-side analysts expect that Workday will post -1.16 EPS for the current fiscal year.

In other Workday news, CEO Aneel Bhusri sold 300,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $175.27, for a total value of $52,581,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Robynne Sisco sold 10,238 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $182.42, for a total value of $1,867,615.96. The disclosure for this sale can be found here. Insiders sold 1,099,707 shares of company stock worth $189,341,183 over the last ninety days. 29.80% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of WDAY. Coastal Investment Advisors Inc. boosted its position in shares of Workday by 49.1% in the 3rd quarter. Coastal Investment Advisors Inc. now owns 337 shares of the software maker’s stock valued at $58,000 after purchasing an additional 111 shares during the period. San Francisco Sentry Investment Group CA grew its holdings in shares of Workday by 445.7% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 191 shares of the software maker’s stock worth $33,000 after purchasing an additional 156 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Workday by 11.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 56,991 shares of the software maker’s stock worth $9,686,000 after purchasing an additional 6,017 shares in the last quarter. Winfield Associates Inc. grew its holdings in shares of Workday by 61.2% during the 3rd quarter. Winfield Associates Inc. now owns 3,425 shares of the software maker’s stock worth $582,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Workday during the 3rd quarter worth approximately $939,000. 66.61% of the stock is currently owned by hedge funds and other institutional investors.

About Workday

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.

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