Oppenheimer Cuts Workday (NASDAQ:WDAY) Price Target to $300.00

Workday (NASDAQ:WDAY - Get Free Report) had its price target dropped by Oppenheimer from $320.00 to $300.00 in a report issued on Friday,Benzinga reports. The firm presently has an "outperform" rating on the software maker's stock. Oppenheimer's price objective suggests a potential upside of 25.05% from the company's previous close.

Several other research analysts also recently commented on WDAY. DA Davidson boosted their target price on Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Stifel Nicolaus cut their price target on Workday from $310.00 to $275.00 and set a "hold" rating on the stock in a research note on Friday, May 23rd. Guggenheim reiterated a "neutral" rating on shares of Workday in a report on Friday, May 23rd. Westpark Capital raised their target price on shares of Workday from $315.00 to $328.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Finally, Redburn Atlantic began coverage on Workday in a research report on Wednesday, February 19th. They set a "neutral" rating for the company. Nine investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Workday currently has a consensus rating of "Moderate Buy" and a consensus target price of $293.54.

Workday Stock Performance

NASDAQ WDAY traded up $0.60 during midday trading on Friday, hitting $239.90. The company had a trading volume of 2,718,190 shares, compared to its average volume of 2,533,082. The firm has a fifty day simple moving average of $242.06 and a two-hundred day simple moving average of $253.96. Workday has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a market cap of $63.81 billion, a price-to-earnings ratio of 39.78, a P/E/G ratio of 3.55 and a beta of 1.30.

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

Insider Activity at Workday

In other news, insider Sayan Chakraborty sold 6,056 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total value of $1,607,868.00. Following the sale, the insider now directly owns 111,324 shares of the company's stock, valued at $29,556,522. The trade was a 5.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $112,595.35. Following the transaction, the chief accounting officer now owns 34,385 shares of the company's stock, valued at $7,789,921.75. The trade was a 1.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 321,724 shares of company stock valued at $77,976,126 in the last three months. Company insiders own 20.00% of the company's stock.

Institutional Trading of Workday

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Simplicity Wealth LLC increased its holdings in Workday by 3.0% in the 4th quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker's stock worth $330,000 after buying an additional 37 shares in the last quarter. Custom Index Systems LLC grew its stake in shares of Workday by 3.0% in the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker's stock worth $364,000 after acquiring an additional 41 shares during the period. AllSquare Wealth Management LLC raised its holdings in shares of Workday by 19.4% during the fourth quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker's stock valued at $65,000 after purchasing an additional 41 shares during the last quarter. Private Trust Co. NA lifted its position in Workday by 15.2% during the first quarter. Private Trust Co. NA now owns 318 shares of the software maker's stock valued at $74,000 after purchasing an additional 42 shares during the period. Finally, CreativeOne Wealth LLC boosted its holdings in Workday by 1.5% in the fourth quarter. CreativeOne Wealth LLC now owns 2,889 shares of the software maker's stock worth $745,000 after purchasing an additional 43 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

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.