Workday (NASDAQ:WDAY) Given New $275.00 Price Target at Wells Fargo & Company

Workday (NASDAQ:WDAY) had its price objective decreased by Wells Fargo & Company from $325.00 to $275.00 in a research report sent to investors on Friday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the software maker’s stock.

WDAY has been the topic of several other research reports. Sanford C. Bernstein cut their target price on Workday from $321.00 to $301.00 and set an outperform rating on the stock in a research report on Friday, May 24th. Morgan Stanley reduced their price target on Workday from $330.00 to $325.00 and set an overweight rating on the stock in a report on Friday, May 24th. Robert W. Baird dropped their price objective on Workday from $316.00 to $265.00 and set an outperform rating for the company in a report on Friday, May 24th. TheStreet upgraded Workday from a c rating to a b- rating in a research note on Monday, February 26th. Finally, Bank of America lowered their target price on shares of Workday from $330.00 to $310.00 and set a buy rating for the company in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, Workday has an average rating of Moderate Buy and a consensus target price of $282.11.

Workday Stock Up 2.1 %

WDAY stock opened at $219.09 on Friday. The business’s 50-day moving average price is $236.14 and its 200-day moving average price is $265.19. The stock has a market cap of $58.06 billion, a P/E ratio of 39.48, a PEG ratio of 5.24 and a beta of 1.33. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37. Workday has a twelve month low of $202.01 and a twelve month high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. Workday had a return on equity of 5.78% and a net margin of 19.66%. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period last year, the firm earned $0.16 earnings per share. The business’s quarterly revenue was up 18.1% on a year-over-year basis. On average, equities research analysts forecast that Workday will post 2.12 EPS for the current year.

Insider Activity

In other news, major shareholder David A. Duffield sold 64,162 shares of Workday stock in a transaction on Monday, April 1st. The stock was sold at an average price of $271.67, for a total value of $17,430,890.54. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $27,981,194.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Richard Harry Sauer sold 8,447 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $268.21, for a total transaction of $2,265,569.87. Following the transaction, the insider now directly owns 66,356 shares of the company’s stock, valued at $17,797,342.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 64,162 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $271.67, for a total value of $17,430,890.54. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $27,981,194.99. The disclosure for this sale can be found here. In the last three months, insiders have sold 392,713 shares of company stock worth $97,038,313. 20.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Workday

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

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.