Evercore ISI Cuts Workday (NASDAQ:WDAY) Price Target to $290.00

Workday (NASDAQ:WDAY) had its price target decreased by Evercore ISI from $300.00 to $290.00 in a report published on Tuesday, Benzinga reports. Evercore ISI currently has an outperform rating on the software maker’s stock.

A number of other research firms have also recently commented on WDAY. Royal Bank of Canada lowered their price target on Workday from $310.00 to $300.00 and set an outperform rating for the company in a report on Friday, May 24th. The Goldman Sachs Group lowered their target price on Workday from $310.00 to $300.00 and set a buy rating for the company in a research note on Friday, May 24th. JMP Securities reissued a market outperform rating and issued a $315.00 target price on shares of Workday in a report on Friday, May 24th. Loop Capital decreased their price target on shares of Workday from $280.00 to $240.00 and set a hold rating on the stock in a report on Friday, May 24th. Finally, UBS Group lowered their price objective on shares of Workday from $280.00 to $255.00 and set a neutral rating for the company in a research report on Friday, May 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $278.85.

Workday Trading Down 1.0 %

Shares of Workday stock opened at $231.08 on Tuesday. The firm’s 50-day moving average price is $222.71 and its two-hundred day moving average price is $248.45. The company has a market capitalization of $61.24 billion, a price-to-earnings ratio of 41.64, a PEG ratio of 5.84 and a beta of 1.35. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37. Workday has a 12-month low of $199.81 and a 12-month high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.10. Workday had a net margin of 19.66% and a return on equity of 5.78%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the business posted $0.40 EPS. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, analysts forecast that Workday will post 2.12 earnings per share for the current fiscal year.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 82,762 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $210.28, for a total transaction of $17,403,193.36. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $21,658,209.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Workday news, major shareholder David A. Duffield sold 82,762 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $210.28, for a total value of $17,403,193.36. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $21,658,209.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total transaction of $669,267.24. Following the completion of the sale, the insider now owns 204,066 shares of the company’s stock, valued at approximately $43,759,913.04. The disclosure for this sale can be found here. Insiders sold a total of 524,672 shares of company stock worth $115,938,834 over the last three months. 20.00% of the stock is owned by company insiders.

Institutional Trading of Workday

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new stake in shares of Workday during the first quarter valued at approximately $27,000. Sound Income Strategies LLC increased its stake in Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after purchasing an additional 49 shares in the last quarter. SouthState Corp raised its holdings in Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after buying an additional 129 shares during the last quarter. Goodman Advisory Group LLC bought a new position in shares of Workday in the second quarter valued at $35,000. Finally, Asset Dedication LLC bought a new position in shares of Workday in the second quarter valued at $36,000. 89.81% of the stock is 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.