Workday (NASDAQ:WDAY) Price Target Cut to $210.00

Workday (NASDAQ:WDAY) had its price target decreased by analysts at Robert W. Baird from $220.00 to $210.00 in a research report issued to clients and investors on Wednesday, BenzingaRatingsTable reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Robert W. Baird’s price objective indicates a potential upside of 30.46% from the stock’s previous close.

Several other equities analysts also recently commented on WDAY. Needham & Company LLC reaffirmed a “buy” rating and issued a $250.00 target price on shares of Workday in a research report on Tuesday, November 5th. Stifel Nicolaus dropped their price target on Workday from $210.00 to $180.00 in a report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price target on Workday from $200.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday. Canaccord Genuity reduced their price target on Workday from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Finally, Deutsche Bank decreased their price objective on Workday from $200.00 to $185.00 and set a “hold” rating on the stock in a report on Wednesday, October 16th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $208.06.

Shares of WDAY stock opened at $160.97 on Wednesday. Workday has a 52 week low of $141.70 and a 52 week high of $226.83. The company has a market capitalization of $40.84 billion, a price-to-earnings ratio of -131.94 and a beta of 1.54. The company has a 50-day simple moving average of $165.19 and a 200 day simple moving average of $188.12. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, December 3rd. The software maker reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.16. The firm had revenue of $938.10 million for the quarter, compared to analysts’ expectations of $920.65 million. Workday had a negative net margin of 15.25% and a negative return on equity of 15.05%. The business’s revenue was up 26.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 EPS. Sell-side analysts forecast that Workday will post -1.17 EPS for the current year.

In other Workday news, Director David A. Duffield sold 300,785 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.27, for a total transaction of $50,011,521.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Aneel Bhusri sold 6,355 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $184.02, for a total value of $1,169,447.10. The disclosure for this sale can be found here. Insiders have sold 509,292 shares of company stock valued at $86,126,565 in the last ninety days. 29.80% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of WDAY. Maverick Capital Ltd. acquired a new stake in Workday in the third quarter valued at about $1,077,000. Metropolitan Life Insurance Co NY lifted its holdings in shares of Workday by 9.9% in the third quarter. Metropolitan Life Insurance Co NY now owns 11,762 shares of the software maker’s stock worth $1,999,000 after acquiring an additional 1,055 shares during the last quarter. Night Owl Capital Management LLC lifted its holdings in shares of Workday by 7.7% in the third quarter. Night Owl Capital Management LLC now owns 55,709 shares of the software maker’s stock worth $9,468,000 after acquiring an additional 3,985 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Workday in the 3rd quarter valued at approximately $6,088,000. Finally, Worldquant Millennium Advisors LLC boosted its stake in shares of Workday by 165.1% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 88,703 shares of the software maker’s stock valued at $15,075,000 after purchasing an additional 55,237 shares in the last quarter. Institutional investors own 67.09% of the company’s stock.

Workday Company Profile

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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