BMO Capital Markets Trims Workday (NASDAQ:WDAY) Target Price to $195.00

Workday (NASDAQ:WDAYGet Rating) had its price target cut by BMO Capital Markets from $217.00 to $195.00 in a research note issued to investors on Monday morning, The Fly reports. They currently have an outperform rating on the software maker’s stock.

WDAY has been the subject of several other research reports. Loop Capital downgraded shares of Workday from a buy rating to a hold rating and cut their target price for the company from $225.00 to $150.00 in a research note on Monday. Barclays cut their target price on shares of Workday from $208.00 to $198.00 and set an overweight rating for the company in a research note on Friday, November 18th. Monness Crespi & Hardt downgraded shares of Workday from a buy rating to a neutral rating in a research note on Thursday, November 17th. Wolfe Research upped their price objective on shares of Workday from $210.00 to $240.00 and gave the company an outperform rating in a research note on Friday, August 26th. Finally, Piper Sandler dropped their price objective on shares of Workday from $211.00 to $186.00 and set an overweight rating for the company in a research note on Thursday, October 20th. Ten equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $221.48.

Workday Trading Up 2.1 %

NASDAQ:WDAY opened at $149.34 on Monday. The company has a market capitalization of $38.23 billion, a PE ratio of -191.46 and a beta of 1.29. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.58. Workday has a 52-week low of $128.72 and a 52-week high of $285.58. The stock has a fifty day simple moving average of $148.99 and a 200-day simple moving average of $153.24.

Workday (NASDAQ:WDAYGet Rating) last announced its earnings results on Thursday, August 25th. The software maker reported ($0.16) earnings per share for the quarter, meeting the consensus estimate of ($0.16). Workday had a negative net margin of 3.46% and a negative return on equity of 2.34%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the company posted $0.49 EPS. On average, equities research analysts expect that Workday will post -0.61 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Gomez Luciano Fernandez sold 2,046 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $158.32, for a total transaction of $323,922.72. Following the completion of the transaction, the chief executive officer now directly owns 257,656 shares in the company, valued at approximately $40,792,097.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, major shareholder David A. Duffield sold 102,500 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $156.24, for a total transaction of $16,014,600.00. Following the completion of the transaction, the insider now directly owns 102,500 shares in the company, valued at approximately $16,014,600. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gomez Luciano Fernandez sold 2,046 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $158.32, for a total value of $323,922.72. Following the sale, the chief executive officer now directly owns 257,656 shares in the company, valued at $40,792,097.92. The disclosure for this sale can be found here. In the last three months, insiders sold 120,974 shares of company stock worth $18,758,209. 21.74% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Workday

Several institutional investors and hedge funds have recently made changes to their positions in WDAY. AllSquare Wealth Management LLC acquired a new stake in shares of Workday during the 3rd quarter valued at approximately $25,000. Guardian Wealth Advisors LLC acquired a new stake in shares of Workday during the 3rd quarter valued at approximately $29,000. Whittier Trust Co. raised its position in shares of Workday by 152.0% during the 1st quarter. Whittier Trust Co. now owns 126 shares of the software maker’s stock valued at $30,000 after acquiring an additional 76 shares in the last quarter. Sentry Investment Management LLC acquired a new stake in Workday in the first quarter worth $31,000. Finally, Lindbrook Capital LLC increased its position in Workday by 72.6% in the second quarter. Lindbrook Capital LLC now owns 252 shares of the software maker’s stock worth $35,000 after buying an additional 106 shares during the period. 68.16% of the stock is owned by institutional investors and hedge funds.

About Workday

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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.

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