Scotiabank Lowers Workday (NASDAQ:WDAY) Price Target to $305.00

Workday (NASDAQ:WDAY) had its target price cut by Scotiabank from $355.00 to $305.00 in a report released on Monday,Benzinga reports. They currently have a sector outperform rating on the software maker’s stock.

Several other research firms have also recently commented on WDAY. Canaccord Genuity Group upped their target price on shares of Workday from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. StockNews.com lowered shares of Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. The Goldman Sachs Group boosted their price target on shares of Workday from $310.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Mizuho boosted their price target on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Oppenheimer boosted their price target on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus price target of $300.36.

Workday Stock Performance

Shares of WDAY opened at $252.50 on Monday. The company’s 50 day moving average price is $256.84 and its 200 day moving average price is $255.28. Workday has a 52 week low of $199.81 and a 52 week high of $294.00. The company has a market capitalization of $67.17 billion, a PE ratio of 41.87, a PEG ratio of 3.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Research analysts expect that Workday will post 2.63 EPS for the current fiscal year.

Insider Activity

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the transaction, the chief executive officer now directly owns 13,972 shares in the company, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $261.75, for a total value of $14,658,000.00. Following the transaction, the insider now owns 172,000 shares in the company, valued at $45,021,000. The trade was a 24.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 473,001 shares of company stock valued at $120,614,400 over the last quarter. 20.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Workday

Large investors have recently modified their holdings of the company. Roxbury Financial LLC purchased a new stake in Workday in the 4th quarter valued at $25,000. Crews Bank & Trust purchased a new stake in Workday in the 4th quarter valued at $26,000. Avion Wealth raised its position in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after buying an additional 86 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares during the last quarter. Finally, TCTC Holdings LLC purchased a new stake in shares of Workday during the 4th quarter valued at $35,000. 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.