Wells Fargo & Company Has Lowered Expectations for Workday (NASDAQ:WDAY) Stock Price

Workday (NASDAQ:WDAY - Get Free Report) had its price objective reduced by stock analysts at Wells Fargo & Company from $360.00 to $325.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the software maker's stock. Wells Fargo & Company's price target would indicate a potential upside of 51.80% from the stock's previous close.

A number of other analysts have also commented on WDAY. Daiwa America raised Workday to a "strong-buy" rating in a report on Tuesday, March 4th. JMP Securities reiterated a "market outperform" rating and issued a $315.00 target price on shares of Workday in a research note on Thursday, February 6th. Canaccord Genuity Group upped their price objective on shares of Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Morgan Stanley reduced their price objective on Workday from $275.00 to $250.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Stifel Nicolaus raised their price target on shares of Workday from $270.00 to $310.00 and gave the stock a "hold" rating in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $295.00.

Workday Stock Down 3.1 %

Workday stock opened at $214.10 on Tuesday. The firm has a market cap of $56.95 billion, a price-to-earnings ratio of 35.51, a PEG ratio of 3.55 and a beta of 1.32. Workday has a 52-week low of $199.81 and a 52-week high of $294.00. 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 50 day moving average price of $243.13 and a two-hundred day moving average price of $252.17.

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

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 66,455 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total value of $17,246,401.60. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $26,729,781.44. This represents a 39.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the sale, the insider now directly owns 111,324 shares of the company's stock, valued at approximately $29,556,522. This trade represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 321,724 shares of company stock valued at $77,976,126. Insiders own 20.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Crews Bank & Trust purchased a new position in Workday during the fourth quarter worth $26,000. Roxbury Financial LLC purchased a new stake in Workday in the 4th quarter worth about $25,000. Avion Wealth boosted its position in shares of Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker's stock valued at $27,000 after buying an additional 86 shares during the period. TCTC Holdings LLC purchased a new stake in shares of Workday in the fourth quarter worth approximately $35,000. Finally, Farmers & Merchants Investments Inc. purchased a new position in Workday during the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

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.

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