Barclays Lowers Workday (NASDAQ:WDAY) Price Target to $305.00

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

WDAY has been the topic of several other reports. Stifel Nicolaus raised their target price on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price objective on shares of Workday in a research note on Monday. Bank of America decreased their target price on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday. DA Davidson raised their price target on shares of Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Workday in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $288.14.

Workday Stock Down 6.2 %

WDAY stock opened at $253.40 on Wednesday. The firm’s fifty day simple moving average is $248.62 and its 200-day simple moving average is $237.33. The company has a market capitalization of $67.15 billion, a P/E ratio of 44.15, a price-to-earnings-growth ratio of 5.31 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. Workday has a 12 month low of $199.81 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last posted its 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 during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm posted $0.47 earnings per share. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, equities research analysts forecast that Workday will post 2.4 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of Workday

Hedge funds and other institutional investors have recently modified their holdings of the business. ORG Partners LLC boosted its stake in Workday by 3,717.9% during the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock worth $721,000 after buying an additional 3,123 shares during the period. Grafton Street Partners Fund LP acquired a new position in shares of Workday in the 3rd quarter worth approximately $4,424,000. ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Workday by 32.4% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after acquiring an additional 7,802 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Workday by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after purchasing an additional 118,180 shares during the period. Finally, Atria Investments Inc increased its holdings in Workday by 19.3% in the 3rd quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock valued at $10,833,000 after purchasing an additional 7,175 shares during the last quarter. 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.