Workday (NASDAQ:WDAY) Price Target Lowered to $310.00 at Bank of America

Workday (NASDAQ:WDAY - Get Free Report) had its price objective lowered by analysts at Bank of America from $330.00 to $310.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the software maker's stock. Bank of America's price objective would indicate a potential upside of 20.82% from the company's current price.

WDAY has been the topic of several other research reports. The Goldman Sachs Group lifted their price target on shares of Workday from $270.00 to $310.00 and gave the stock a "buy" rating in a research note on Tuesday, February 27th. Evercore ISI increased their price target on Workday from $310.00 to $350.00 and gave the company an "outperform" rating in a report on Tuesday, February 20th. StockNews.com downgraded Workday from a "strong-buy" rating to a "buy" rating in a report on Monday, April 8th. BMO Capital Markets increased their target price on Workday from $290.00 to $338.00 and gave the company an "outperform" rating in a research note on Tuesday, February 13th. Finally, Guggenheim restated a "sell" rating and issued a $190.00 price target on shares of Workday in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $296.64.

Workday Trading Up 2.1 %

NASDAQ:WDAY traded up $5.26 on Thursday, hitting $256.57. 1,886,881 shares of the stock were exchanged, compared to its average volume of 1,847,066. The stock has a market cap of $67.73 billion, a PE ratio of 48.80, a PEG ratio of 6.17 and a beta of 1.33. Workday has a fifty-two week low of $182.59 and a fifty-two week high of $311.28. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. The stock has a fifty day moving average of $261.99 and a 200-day moving average of $267.32.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.47 by $0.10. Workday had a return on equity of 4.87% and a net margin of 19.02%. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the company posted ($0.14) earnings per share. The firm's revenue was up 16.8% compared to the same quarter last year. As a group, equities analysts expect that Workday will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 65,221 shares of the firm's stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $268.29, for a total transaction of $17,498,142.09. Following the transaction, the insider now owns 102,997 shares in the company, valued at $27,633,065.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director George J. Still, Jr. sold 5,000 shares of the firm's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total transaction of $1,352,600.00. Following the completion of the transaction, the director now owns 105,000 shares in the company, valued at approximately $28,404,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 65,221 shares of the business's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $268.29, for a total transaction of $17,498,142.09. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at $27,633,065.13. The disclosure for this sale can be found here. Insiders sold 435,691 shares of company stock valued at $117,731,569 over the last 90 days. 20.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Workday

A number of institutional investors and hedge funds have recently modified their holdings of WDAY. Dynasty Wealth Management LLC acquired a new stake in shares of Workday during the first quarter valued at approximately $1,245,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Workday by 12.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 333,759 shares of the software maker's stock valued at $91,033,000 after purchasing an additional 38,117 shares in the last quarter. Blackstone Inc. acquired a new stake in shares of Workday in the first quarter worth $40,912,000. Silvercrest Asset Management Group LLC grew its holdings in shares of Workday by 75.2% during the first quarter. Silvercrest Asset Management Group LLC now owns 19,947 shares of the software maker's stock valued at $5,441,000 after buying an additional 8,559 shares in the last quarter. Finally, Caxton Associates LP acquired a new position in Workday during the first quarter valued at $1,364,000. Institutional investors and hedge funds own 89.81% of the company's stock.

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.