Loop Capital Has Lowered Expectations for Workday (NASDAQ:WDAY) Stock Price

Workday (NASDAQ:WDAY - Get Free Report) had its price target dropped by Loop Capital from $285.00 to $250.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "hold" rating on the software maker's stock. Loop Capital's price objective would suggest a potential upside of 4.48% from the company's previous close.

A number of other equities research analysts have also weighed in on WDAY. Daiwa America raised shares of Workday to a "strong-buy" rating in a report on Tuesday, March 4th. BNP Paribas raised Workday to a "strong-buy" rating in a report on Friday, February 14th. Westpark Capital raised their price objective on shares of Workday from $315.00 to $328.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Oppenheimer lifted their target price on Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Finally, KeyCorp reduced their target price on shares of Workday from $335.00 to $325.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Nine research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Workday presently has a consensus rating of "Moderate Buy" and a consensus target price of $293.54.

Workday Price Performance

Shares of WDAY stock traded down $0.03 during mid-day trading on Friday, reaching $239.28. The stock had a trading volume of 1,310,791 shares, compared to its average volume of 2,547,153. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market cap of $63.65 billion, a P/E ratio of 39.68, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30. The business has a 50-day simple moving average of $242.06 and a 200 day simple moving average of $253.96. Workday has a 12-month low of $199.81 and a 12-month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.01 by $0.22. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm's quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the company earned $1.74 EPS. On average, sell-side analysts anticipate that Workday will post 2.63 earnings per share for the current year.

Insider Buying and Selling at Workday

In other news, CAO Mark S. Garfield sold 497 shares of Workday stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total transaction of $112,595.35. Following the transaction, the chief accounting officer now owns 34,385 shares in the company, valued at approximately $7,789,921.75. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 81,275 shares of the firm's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the transaction, the insider now owns 102,997 shares of the company's stock, valued at approximately $22,111,395.96. The trade was a 44.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 321,724 shares of company stock worth $77,976,126. Corporate insiders own 20.00% of the company's stock.

Hedge Funds Weigh In On Workday

Several large investors have recently added to or reduced their stakes in the business. Roxbury Financial LLC bought a new position in shares of Workday during the 4th quarter worth approximately $25,000. Crews Bank & Trust bought a new position in Workday in the 4th quarter worth about $26,000. Avion Wealth grew its position in shares of Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker's stock valued at $27,000 after purchasing an additional 86 shares in the last quarter. Cornerstone Planning Group LLC boosted its position in shares of Workday by 76.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock valued at $28,000 after acquiring an additional 54 shares during the last quarter. Finally, Dagco Inc. bought a new stake in shares of Workday during the 1st quarter worth $31,000. Institutional investors own 89.81% of the company's stock.

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.