Workday (NASDAQ:WDAY) Given New $240.00 Price Target at UBS Group

Workday (NASDAQ:WDAY) had its target price decreased by UBS Group from $250.00 to $240.00 in a research report sent to investors on Wednesday, Marketbeat Ratings reports. UBS Group currently has a neutral rating on the software maker’s stock.

Several other analysts have also recently commented on the company. Stifel Nicolaus lowered their price target on Workday from $255.00 to $235.00 and set a “hold” rating for the company in a report on Wednesday. Guggenheim reissued a “buy” rating and issued a $285.00 target price on shares of Workday in a research report on Wednesday. TD Cowen dropped their price target on shares of Workday from $310.00 to $290.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Workday from $330.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, August 22nd. Finally, Citizens Jmp reissued a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, Workday presently has an average rating of “Moderate Buy” and a consensus price target of $282.70.

Workday Stock Down 7.9%

WDAY stock opened at $215.34 on Wednesday. The company has a 50 day moving average price of $233.95 and a two-hundred day moving average price of $236.47. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a market capitalization of $57.50 billion, a P/E ratio of 90.48, a PEG ratio of 2.90 and a beta of 1.11. Workday has a one year low of $205.33 and a one year high of $294.00.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.15. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.42 billion. Workday had a return on equity of 10.45% and a net margin of 6.95%.The business’s revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.89 earnings per share. As a group, sell-side analysts expect that Workday will post 2.63 EPS for the current year.

Insider Buying and Selling at Workday

In related news, Director Michael M. Mcnamara sold 5,393 shares of the company’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $235.16, for a total transaction of $1,268,217.88. Following the completion of the sale, the director directly owned 24,078 shares of the company’s stock, valued at approximately $5,662,182.48. This represents a 18.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $237.52, for a total value of $1,484,500.00. Following the completion of the sale, the chief executive officer owned 20,222 shares of the company’s stock, valued at approximately $4,803,129.44. This represents a 23.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 264,933 shares of company stock worth $61,475,760. Corporate insiders own 19.31% of the company’s stock.

Institutional Investors Weigh In On Workday

Several hedge funds have recently modified their holdings of WDAY. Rakuten Securities Inc. purchased a new position in Workday in the 2nd quarter worth approximately $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Workday during the third quarter worth $26,000. JPL Wealth Management LLC acquired a new position in shares of Workday during the third quarter worth $30,000. Dagco Inc. purchased a new position in shares of Workday in the first quarter valued at $31,000. Finally, Berbice Capital Management LLC grew its holdings in Workday by 136.4% during the 2nd quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock valued at $31,000 after purchasing an additional 75 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other 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.