Workday (NASDAQ:WDAY) Stock Price Down 2.7%

Shares of Workday, Inc. (NASDAQ:WDAY - Get Free Report) traded down 2.7% during trading on Monday . The stock traded as low as $247.18 and last traded at $248.79. 692,764 shares changed hands during trading, a decline of 62% from the average session volume of 1,814,049 shares. The stock had previously closed at $255.78.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WDAY. Evercore ISI boosted their price objective on Workday from $310.00 to $350.00 and gave the company an "outperform" rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. upped their price target on Workday from $260.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, February 22nd. Wells Fargo & Company lifted their price objective on shares of Workday from $300.00 to $350.00 and gave the stock an "overweight" rating in a report on Tuesday, February 20th. UBS Group dropped their target price on shares of Workday from $315.00 to $300.00 and set a "neutral" rating on the stock in a report on Tuesday, February 27th. Finally, The Goldman Sachs Group raised their price target on shares of Workday from $270.00 to $310.00 and gave the stock a "buy" rating in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $293.61.

Workday Stock Down 2.3 %

The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. The business has a 50-day simple moving average of $268.07 and a two-hundred day simple moving average of $265.53. The stock has a market capitalization of $65.98 billion, a P/E ratio of 48.59, a PEG ratio of 6.39 and a beta of 1.33.

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

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 64,329 shares of the firm's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $268.85, for a total value of $17,294,851.65. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $27,690,743.45. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, major shareholder David A. Duffield sold 64,329 shares of the firm's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $268.85, for a total value of $17,294,851.65. Following the transaction, the insider now owns 102,997 shares in the company, valued at $27,690,743.45. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $48,749,162.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 435,691 shares of company stock valued at $117,731,569. 21.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Workday

Several hedge funds have recently added to or reduced their stakes in the stock. ORG Partners LLC raised its position in shares of Workday by 1.2% in the 4th quarter. ORG Partners LLC now owns 2,856 shares of the software maker's stock valued at $788,000 after acquiring an additional 34 shares during the period. VisionPoint Advisory Group LLC raised its holdings in Workday by 27.6% in the fourth quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker's stock worth $43,000 after purchasing an additional 34 shares during the period. Carolinas Wealth Consulting LLC boosted its position in shares of Workday by 9.7% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker's stock worth $106,000 after purchasing an additional 34 shares in the last quarter. Washington Trust Advisors Inc. grew its holdings 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 buying 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 buying an additional 36 shares in the last quarter. 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.

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