Wells Fargo & Company Cuts Workday (NASDAQ:WDAY) Price Target to $325.00

Workday (NASDAQ:WDAYGet Free Report) had its price target reduced by research analysts at Wells Fargo & Company from $350.00 to $325.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the software maker’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 43.21% from the company’s previous close.

Several other equities analysts have also commented on WDAY. Robert W. Baird lowered their price target on shares of Workday from $316.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday. TheStreet raised Workday from a “c” rating to a “b-” rating in a report on Monday, February 26th. KeyCorp dropped their price target on shares of Workday from $330.00 to $275.00 and set an “overweight” rating on the stock in a research report on Friday. JMP Securities reissued a “market outperform” rating and set a $315.00 target price on shares of Workday in a report on Tuesday, February 27th. Finally, Morgan Stanley lowered their price target on Workday from $330.00 to $325.00 and set an “overweight” rating on the stock in a research report on Friday. One equities research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $282.96.

Read Our Latest Stock Analysis on WDAY

Workday Stock Down 13.0 %

Shares of WDAY traded down $33.96 during midday trading on Friday, hitting $226.94. The company had a trading volume of 5,678,688 shares, compared to its average volume of 1,906,808. The stock has a market cap of $59.91 billion, a price-to-earnings ratio of 44.07, a PEG ratio of 7.75 and a beta of 1.33. The company’s 50 day moving average price is $260.89 and its 200 day moving average price is $268.88. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday has a 52 week low of $192.68 and a 52 week high of $311.28.

Workday (NASDAQ:WDAYGet Free Report) last issued its earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, topping the consensus estimate of $0.31 by $0.20. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The business’s revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 EPS. On average, equities research analysts predict that Workday will post 1.76 EPS for the current year.

Insider Transactions at Workday

In related news, insider Douglas A. Robinson sold 411 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total value of $109,695.90. Following the completion of the transaction, the insider now directly owns 165,521 shares in the company, valued at $44,177,554.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total value of $916,918.59. Following the sale, the insider now directly owns 165,932 shares in the company, valued at $48,749,162.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas A. Robinson sold 411 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total transaction of $109,695.90. Following the completion of the transaction, the insider now owns 165,521 shares in the company, valued at $44,177,554.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 435,691 shares of company stock valued at $117,731,569. 20.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Workday

A number of hedge funds and other institutional investors have recently bought and sold shares of WDAY. Beacon Capital Management LLC raised its holdings in shares of Workday by 333.3% in the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after buying an additional 70 shares during the last quarter. VisionPoint Advisory Group LLC grew its stake in shares of Workday by 215.4% during the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after purchasing an additional 84 shares during the last quarter. Crewe Advisors LLC acquired a new stake in shares of Workday in the first quarter valued at approximately $27,000. Clear Street Markets LLC bought a new position in Workday in the 3rd quarter worth approximately $29,000. Finally, Exchange Traded Concepts LLC boosted its position in Workday by 1,750.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after buying an additional 105 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Workday (NASDAQ:WDAY)

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