Workday (NASDAQ:WDAY) Given New $242.00 Price Target at Loop Capital

Workday (NASDAQ:WDAY) had its price target cut by Loop Capital from $270.00 to $242.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a hold rating on the software maker’s stock.

Other equities research analysts also recently issued reports about the company. KeyCorp increased their price target on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Bank of America lowered their target price on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday. The Goldman Sachs Group lifted their price target on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Barclays lowered their price objective on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Scotiabank initiated coverage on shares of Workday in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $288.14.

Workday Stock Down 6.2 %

Workday stock opened at $253.40 on Wednesday. The firm has a market capitalization of $67.15 billion, a price-to-earnings ratio of 44.15, a PEG ratio of 5.31 and a beta of 1.35. The company’s 50 day simple moving average is $248.62 and its 200 day simple moving average is $237.33. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. Workday has a fifty-two week low of $199.81 and a fifty-two week high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the firm posted $0.47 earnings per share. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Workday will post 2.4 EPS for the current year.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. The trade was a 39.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $255.45, for a total value of $1,915,875.00. Following the sale, the director now directly owns 90,000 shares of the company’s stock, valued at $22,990,500. This represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 359,954 shares of company stock worth $88,742,132 over the last 90 days. Company insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new position in shares of Workday in the third quarter valued at approximately $26,000. SouthState Corp boosted its stake in Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after purchasing an additional 129 shares during the period. Crewe Advisors LLC grew its holdings in Workday by 56.6% in the 2nd quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock valued at $35,000 after buying an additional 56 shares in the last quarter. Goodman Advisory Group LLC acquired a new stake in shares of Workday during the second quarter worth $35,000. Finally, Meeder Asset Management Inc. boosted its position in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares during the period. 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.