Mizuho Trims Workday (NASDAQ:WDAY) Target Price to $280.00

Workday (NASDAQ:WDAY) had its price objective cut by analysts at Mizuho from $325.00 to $280.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Mizuho’s target price points to a potential upside of 7.32% from the stock’s current price.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. increased their target price on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. The Goldman Sachs Group increased their price target on Workday from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research report on Tuesday, February 27th. UBS Group reduced their price target on Workday from $315.00 to $300.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Finally, BMO Capital Markets increased their price target on Workday from $290.00 to $338.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $289.39.

Workday Stock Performance

Shares of Workday stock opened at $260.90 on Friday. Workday has a 52 week low of $191.04 and a 52 week high of $311.28. The business’s fifty day simple moving average is $260.89 and its 200-day simple moving average is $268.88. The firm has a market cap of $68.88 billion, a PE ratio of 50.66, a price-to-earnings-growth ratio of 7.75 and a beta of 1.33. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, beating the consensus estimate of $0.31 by $0.20. Workday had a return on equity of 4.87% and a net margin of 19.02%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the company posted $0.16 EPS. The company’s quarterly revenue was up 18.1% on a year-over-year basis. Equities analysts forecast that Workday will post 1.76 earnings per share for the current year.

Insider Activity

In other news, insider Richard Harry Sauer sold 8,447 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $268.21, for a total value of $2,265,569.87. Following the completion of the sale, the insider now directly owns 66,356 shares of the company’s stock, valued at approximately $17,797,342.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the transaction, the insider now directly owns 165,932 shares of the company’s stock, valued at $48,749,162.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Richard Harry Sauer sold 8,447 shares of Workday stock in a transaction on Monday, April 8th. The stock was sold at an average price of $268.21, for a total value of $2,265,569.87. Following the transaction, the insider now directly owns 66,356 shares of the company’s stock, valued at $17,797,342.76. The disclosure for this sale can be found here. Insiders sold 435,691 shares of company stock valued at $117,731,569 in the last three months. 20.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Workday

Hedge funds and other institutional investors have recently bought and sold shares of the company. Beacon Capital Management LLC increased its position in Workday by 333.3% during the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after buying an additional 70 shares in the last quarter. VisionPoint Advisory Group LLC increased its position in Workday by 215.4% during the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after buying an additional 84 shares in the last quarter. Crewe Advisors LLC purchased a new position in Workday during the first quarter worth $27,000. Clear Street Markets LLC purchased a new position in Workday during the third quarter worth $29,000. Finally, Exchange Traded Concepts LLC increased its position in Workday by 1,750.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after buying an additional 105 shares in the last quarter. 89.81% of the stock is 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.