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

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

Other equities analysts also recently issued reports about the company. Daiwa America raised Workday to a “strong-buy” rating in a research report on Tuesday, March 4th. The Goldman Sachs Group raised their target price on Workday from $310.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. BNP Paribas upgraded Workday to a “strong-buy” rating in a report on Friday, February 14th. Redburn Atlantic assumed coverage on Workday in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Finally, Piper Sandler lifted their price objective on Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $300.36.

Workday Stock Up 0.2 %

Shares of NASDAQ WDAY opened at $252.50 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The firm has a market capitalization of $67.17 billion, a price-to-earnings ratio of 41.87, a PEG ratio of 3.55 and a beta of 1.38. The stock has a 50 day moving average price of $256.84 and a 200 day moving average price of $255.28. Workday has a 52-week low of $199.81 and a 52-week high of $294.00.

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

Insider Activity

In other news, major shareholder David A. Duffield sold 71,672 shares of Workday stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $248.58, for a total value of $17,816,225.76. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $25,602,994.26. The trade was a 41.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 completion of the transaction, the director now directly owns 75,000 shares of the company’s stock, valued at $18,099,750. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 473,001 shares of company stock valued at $120,614,400. Company insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Hedge funds have recently bought and sold shares of the company. Simplicity Wealth LLC raised its position in shares of Workday by 3.0% during the 4th quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock worth $330,000 after buying an additional 37 shares in the last quarter. Marcum Wealth LLC grew its stake in shares of Workday by 4.4% in the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock worth $249,000 after purchasing an additional 41 shares during the last quarter. Custom Index Systems LLC grew its stake in shares of Workday by 3.0% in the 4th quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after purchasing an additional 41 shares during the last quarter. AllSquare Wealth Management LLC grew its stake in shares of Workday by 19.4% in the 4th quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock worth $65,000 after purchasing an additional 41 shares during the last quarter. Finally, Meeder Asset Management Inc. grew 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 worth $35,000 after purchasing an additional 43 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

About Workday

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.