Workday (NASDAQ:WDAY) Price Target Lowered to $265.00 at Bank of America

Workday (NASDAQ:WDAY) had its price target trimmed by Bank of America from $275.00 to $265.00 in a report published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

A number of other equities analysts have also weighed in on WDAY. JPMorgan Chase & Co. decreased their price target on Workday from $300.00 to $285.00 and set an overweight rating for the company in a research report on Friday, May 24th. Piper Sandler decreased their target price on shares of Workday from $280.00 to $262.00 and set an overweight rating for the company in a report on Friday, July 12th. Loop Capital cut their price target on shares of Workday from $280.00 to $240.00 and set a hold rating on the stock in a report on Friday, May 24th. Royal Bank of Canada decreased their price objective on shares of Workday from $310.00 to $300.00 and set an outperform rating for the company in a research note on Friday, May 24th. Finally, Citigroup lowered their price objective on shares of Workday from $293.00 to $255.00 and set a neutral rating on the stock in a research report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $279.22.

Workday Stock Up 0.1 %

NASDAQ WDAY opened at $231.74 on Thursday. Workday has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a market capitalization of $61.41 billion, a P/E ratio of 41.75, a PEG ratio of 5.62 and a beta of 1.35. The company’s 50 day simple moving average is $221.01 and its 200 day simple moving average is $249.55. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 5.78%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.16 earnings per share. Equities research analysts expect that Workday will post 2.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $229.32, for a total value of $12,841,920.00. Following the sale, the insider now directly owns 562,000 shares of the company’s stock, valued at $128,877,840. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $229.32, for a total transaction of $12,841,920.00. Following the completion of the transaction, the insider now directly owns 562,000 shares in the company, valued at approximately $128,877,840. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 82,762 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $210.28, for a total transaction of $17,403,193.36. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $21,658,209.16. The disclosure for this sale can be found here. Insiders sold a total of 524,672 shares of company stock valued at $115,938,834 in the last quarter. Insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Workday by 2.2% during the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after buying an additional 324,540 shares during the last quarter. Norges Bank bought a new stake in Workday during the 4th quarter worth approximately $1,491,149,000. Sustainable Growth Advisers LP grew its position in Workday by 9.7% during the 1st quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock worth $927,998,000 after acquiring an additional 301,463 shares during the last quarter. Clearbridge Investments LLC increased its holdings in Workday by 12.4% during the 1st quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock valued at $693,382,000 after purchasing an additional 281,207 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Workday by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after purchasing an additional 1,016,394 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

About Workday

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.