Workday (NASDAQ:WDAY) PT Lowered to $325.00 at Morgan Stanley

Workday (NASDAQ:WDAY) had its price objective trimmed by Morgan Stanley from $330.00 to $325.00 in a research report released on Friday morning, Benzinga reports. The firm currently has an overweight rating on the software maker’s stock.

Other analysts have also recently issued research reports about the stock. DA Davidson reissued a neutral rating and set a $300.00 target price on shares of Workday in a research note on Tuesday, February 27th. JMP Securities reissued a market outperform rating and set a $315.00 target price on shares of Workday in a research note on Tuesday, February 27th. StockNews.com cut shares of Workday from a strong-buy rating to a buy rating in a research note on Monday, April 8th. Stifel Nicolaus cut their target price on shares of Workday from $290.00 to $250.00 and set a hold rating for the company in a research note on Friday. Finally, Oppenheimer cut their target price on shares of Workday from $320.00 to $300.00 and set an outperform rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $283.96.

Workday Trading Down 15.3 %

Shares of Workday stock opened at $220.91 on Friday. The firm has a 50-day simple moving average of $259.94 and a two-hundred day simple moving average of $269.56. The company has a market cap of $58.32 billion, a P/E ratio of 39.80, a price-to-earnings-growth ratio of 6.59 and a beta of 1.33. Workday has a fifty-two week low of $192.68 and a fifty-two week high of $311.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 6.02%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 earnings per share. As a group, equities analysts predict that Workday will post 2.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the sale, the insider now directly owns 843,000 shares in the company, valued at approximately $223,302,270. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Workday news, insider Richard Harry Sauer sold 8,447 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $268.21, for a total transaction of $2,265,569.87. Following the sale, the insider now directly owns 66,356 shares in the company, valued at approximately $17,797,342.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the completion of the sale, the insider now owns 843,000 shares in the company, valued at $223,302,270. The disclosure for this sale can be found here. Insiders have sold a total of 435,691 shares of company stock worth $117,731,569 in the last ninety days. 20.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Workday

A number of hedge funds and other institutional investors have recently modified their holdings of the company. ORG Partners LLC raised its holdings in shares of Workday by 1.2% in the 4th quarter. ORG Partners LLC now owns 2,856 shares of the software maker’s stock valued at $788,000 after purchasing an additional 34 shares in the last quarter. VisionPoint Advisory Group LLC raised its holdings in shares of Workday by 27.6% in the 4th quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock valued at $43,000 after purchasing an additional 34 shares in the last quarter. Carolinas Wealth Consulting LLC raised its holdings in shares of Workday by 9.7% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock valued at $106,000 after purchasing an additional 34 shares in the last quarter. Washington Trust Advisors Inc. raised its holdings in shares of Workday by 8.1% in the 4th quarter. Washington Trust Advisors Inc. now owns 481 shares of the software maker’s stock valued at $133,000 after purchasing an additional 36 shares in the last quarter. Finally, Meitav Investment House Ltd. grew its position in shares of Workday by 2.6% in the 4th quarter. Meitav Investment House Ltd. now owns 1,401 shares of the software maker’s stock valued at $387,000 after buying an additional 36 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.