Oppenheimer Issues Pessimistic Forecast for Workday (NASDAQ:WDAY) Stock Price

Workday (NASDAQ:WDAY) had its price objective reduced by investment analysts at Oppenheimer from $270.00 to $200.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Oppenheimer’s price target suggests a potential upside of 38.48% from the company’s current price.

WDAY has been the topic of a number of other reports. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price objective on shares of Workday in a research note on Thursday, February 5th. Morgan Stanley boosted their price target on Workday from $255.00 to $280.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 26th. Stifel Nicolaus set a $175.00 price objective on Workday in a research report on Monday, February 9th. Evercore ISI set a $200.00 target price on Workday in a research report on Monday, February 9th. Finally, Citigroup lowered their target price on Workday from $261.00 to $247.00 and set a “neutral” rating for the company in a research note on Wednesday, November 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $262.82.

Workday Stock Performance

WDAY opened at $144.42 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83. Workday has a 52-week low of $140.59 and a 52-week high of $281.00. The firm has a market cap of $37.98 billion, a P/E ratio of 60.68, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. The business’s fifty day moving average is $194.49 and its 200-day moving average is $217.19.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the prior year, the business posted $1.89 earnings per share. Workday’s revenue was up 12.6% compared to the same quarter last year. Sell-side analysts expect that Workday will post 2.63 EPS for the current fiscal year.

Insider Activity

In other Workday news, insider Gerrit S. Kazmaier sold 3,759 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $208.73, for a total transaction of $784,616.07. Following the sale, the insider directly owned 105,167 shares of the company’s stock, valued at $21,951,507.91. The trade was a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $208.75, for a total transaction of $1,252,500.00. Following the completion of the transaction, the chief financial officer owned 159,158 shares of the company’s stock, valued at approximately $33,224,232.50. This trade represents a 3.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 370,321 shares of company stock valued at $78,866,401. 20.00% of the stock is currently owned by company insiders.

Institutional Trading of Workday

Several institutional investors have recently modified their holdings of WDAY. Rakuten Securities Inc. bought a new position in Workday during the 2nd quarter worth $25,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Workday in the third quarter valued at about $26,000. DT Investment Partners LLC bought a new position in shares of Workday during the fourth quarter worth about $27,000. LRI Investments LLC acquired a new position in shares of Workday in the fourth quarter worth approximately $29,000. Finally, JPL Wealth Management LLC acquired a new position in shares of Workday in the third quarter worth approximately $30,000. Institutional investors own 89.81% of the company’s stock.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.