Workday (NASDAQ:WDAY) Price Target Cut to $305.00 by Analysts at Barclays

Workday (NASDAQ:WDAY) had its price target lowered by Barclays from $314.00 to $305.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the software maker’s stock.

WDAY has been the topic of several other reports. DA Davidson boosted their price objective on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. The Goldman Sachs Group boosted their target price on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Scotiabank assumed coverage on Workday in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $300.00 price objective on shares of Workday in a research report on Monday. Finally, JMP Securities restated a “market outperform” rating and issued a $315.00 target price on shares of Workday in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $288.14.

Workday Stock Down 6.2 %

Shares of WDAY opened at $253.40 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The stock has a market capitalization of $67.15 billion, a price-to-earnings ratio of 44.15, a price-to-earnings-growth ratio of 5.31 and a beta of 1.35. Workday has a 1 year low of $199.81 and a 1 year high of $311.28. The business’s 50 day simple moving average is $248.62 and its 200-day simple moving average is $237.33.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm earned $0.47 earnings per share. Workday’s revenue was up 15.8% on a year-over-year basis. As a group, equities analysts expect that Workday will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $26,902,816.40. The trade was a 39.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the sale, the director now directly owns 90,000 shares of the company’s stock, valued at $22,990,500. The trade was a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 359,954 shares of company stock worth $88,742,132 over the last quarter. Insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new stake in shares of Workday during the third quarter worth about $26,000. SouthState Corp grew its position in Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after purchasing an additional 129 shares during the last quarter. Crewe Advisors LLC increased its stake in Workday by 56.6% during the 2nd quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock valued at $35,000 after purchasing an additional 56 shares in the last quarter. Goodman Advisory Group LLC purchased a new position in shares of Workday in the second quarter worth $35,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

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.