Workday (NASDAQ:WDAY) PT Lowered to $220.00 at Morgan Stanley

Workday (NASDAQ:WDAYGet Rating) had its price target lowered by Morgan Stanley from $282.00 to $220.00 in a report released on Tuesday, Marketbeat reports. The brokerage currently has an overweight rating on the software maker’s stock.

A number of other brokerages have also issued reports on WDAY. Wolfe Research lifted their target price on Workday from $210.00 to $240.00 and gave the company an outperform rating in a research report on Friday, August 26th. Piper Sandler reduced their target price on Workday from $211.00 to $186.00 and set an overweight rating for the company in a research note on Thursday, October 20th. Macquarie assumed coverage on Workday in a research note on Wednesday, November 2nd. They issued a neutral rating and a $170.00 price target for the company. BMO Capital Markets cut their target price on Workday from $217.00 to $195.00 and set an outperform rating for the company in a research report on Monday. Finally, TheStreet cut Workday from a c- rating to a d+ rating in a report on Friday, August 26th. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $221.48.

Workday Stock Performance

Workday stock opened at $149.34 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a fifty day moving average price of $148.99 and a two-hundred day moving average price of $153.24. Workday has a 52-week low of $128.72 and a 52-week high of $285.58. The firm has a market capitalization of $38.23 billion, a P/E ratio of -191.46 and a beta of 1.29.

Workday (NASDAQ:WDAYGet Rating) last posted its quarterly earnings results on Thursday, August 25th. The software maker reported ($0.16) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.16). Workday had a negative return on equity of 2.34% and a negative net margin of 3.46%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the business earned $0.49 earnings per share. As a group, analysts anticipate that Workday will post -0.61 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 102,500 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $156.24, for a total transaction of $16,014,600.00. Following the completion of the sale, the insider now owns 102,500 shares of the company’s stock, valued at $16,014,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder David A. Duffield sold 102,500 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $156.24, for a total transaction of $16,014,600.00. Following the transaction, the insider now directly owns 102,500 shares in the company, valued at $16,014,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas A. Robinson sold 221 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $158.32, for a total transaction of $34,988.72. Following the completion of the transaction, the insider now owns 134,673 shares in the company, valued at $21,321,429.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 120,974 shares of company stock valued at $18,758,209. Corporate insiders own 21.74% of the company’s stock.

Institutional Investors Weigh In On Workday

Several large investors have recently added to or reduced their stakes in WDAY. Siemens Fonds Invest GmbH raised its stake in Workday by 1.0% during the 1st quarter. Siemens Fonds Invest GmbH now owns 5,807 shares of the software maker’s stock worth $1,391,000 after acquiring an additional 60 shares in the last quarter. MGO One Seven LLC grew its position in Workday by 3.9% during the 2nd quarter. MGO One Seven LLC now owns 1,756 shares of the software maker’s stock worth $245,000 after purchasing an additional 66 shares during the last quarter. First National Trust Co boosted its holdings in shares of Workday by 7.0% in the first quarter. First National Trust Co now owns 1,137 shares of the software maker’s stock valued at $272,000 after acquiring an additional 74 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in shares of Workday by 2.7% in the first quarter. Yousif Capital Management LLC now owns 2,813 shares of the software maker’s stock valued at $674,000 after acquiring an additional 74 shares in the last quarter. Finally, AFT Forsyth & Company Inc. boosted its holdings in shares of Workday by 2.7% in the third quarter. AFT Forsyth & Company Inc. now owns 2,880 shares of the software maker’s stock valued at $438,000 after acquiring an additional 75 shares in the last quarter. 68.16% of the stock is owned by hedge funds and other institutional investors.

Workday Company Profile

(Get Rating)

Workday, Inc provides enterprise cloud applications in the United States and internationally. The company's applications help its customers to plan, execute, analyze, and extend to other applications and environments, and to manage their business and operations. It offers a suite of financial management applications, which enable chief financial officers to maintain accounting information in the general ledger; manage financial processes; 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.

Further Reading

Analyst Recommendations for Workday (NASDAQ:WDAY)

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