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

Workday (NASDAQ:WDAY) had its price objective decreased by Scotiabank from $355.00 to $305.00 in a research note released on Monday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the software maker’s stock.

Several other research analysts have also recently issued reports on the stock. Canaccord Genuity Group raised their target price on shares of Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Piper Sandler raised their target price on shares of Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Loop Capital raised their target price on shares of Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, February 19th. Royal Bank of Canada raised their price target on shares of Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $300.36.

Workday Trading Up 2.6 %

NASDAQ WDAY opened at $250.62 on Monday. The company has a fifty day simple moving average of $256.84 and a two-hundred day simple moving average of $255.38. The stock has a market cap of $66.66 billion, a P/E ratio of 41.56, a P/E/G ratio of 3.55 and a beta of 1.38. Workday has a 12-month low of $199.81 and a 12-month high of $294.00. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

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

Insiders Place Their Bets

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the transaction, the director now directly owns 75,000 shares of the company’s stock, valued at $18,099,750. The trade was a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the transaction, the insider now directly owns 284,000 shares in the company, valued at $78,188,040. This trade represents a 16.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 443,329 shares of company stock valued at $114,843,294 over the last ninety days. Company insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

A number of institutional investors and hedge funds have recently made changes to their positions in WDAY. Roxbury Financial LLC purchased a new stake in shares of Workday in the 4th quarter valued at approximately $25,000. Crews Bank & Trust purchased a new stake in shares of Workday in the 4th quarter valued at approximately $26,000. Avion Wealth raised its stake in shares of 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 acquiring an additional 86 shares during the period. Meeder Asset Management Inc. raised its stake in shares of Workday by 42.2% in the 3rd 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. Finally, TCTC Holdings LLC purchased a new stake in shares of Workday in the 4th quarter valued at approximately $35,000. 89.81% of the stock is owned by hedge funds and other 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.