Workday (NASDAQ:WDAY) Price Target Cut to $270.00 by Analysts at Citigroup

Workday (NASDAQ:WDAY) had its price target cut by Citigroup from $287.00 to $270.00 in a research note published on Thursday morning,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

WDAY has been the topic of several other research reports. Oppenheimer reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Workday in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and lifted their target price for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 target price on shares of Workday in a report on Monday, November 25th. Mizuho lifted their price target on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, The Goldman Sachs Group boosted their price objective on Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average price target of $292.25.

Workday Trading Up 0.9 %

Shares of WDAY stock opened at $250.70 on Thursday. The stock has a 50-day simple moving average of $262.69 and a 200 day simple moving average of $246.45. The stock has a market capitalization of $66.69 billion, a P/E ratio of 41.58, a P/E/G ratio of 4.51 and a beta of 1.34. Workday has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm posted $0.47 EPS. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, sell-side analysts expect that Workday will post 2.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the completion of the sale, the insider now owns 60,000 shares of the company’s stock, valued at $14,785,200. This represents a 48.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 438,819 shares of company stock worth $113,142,592. Corporate insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Crossmark Global Holdings Inc. boosted its holdings in Workday by 42.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 4,433 shares of the software maker’s stock valued at $1,143,000 after acquiring an additional 1,317 shares during the period. Ballentine Partners LLC boosted its stake in Workday by 8.1% during the 4th quarter. Ballentine Partners LLC now owns 2,046 shares of the software maker’s stock valued at $528,000 after purchasing an additional 154 shares during the period. Koshinski Asset Management Inc. acquired a new stake in Workday in the 4th quarter valued at approximately $201,000. Harbor Investment Advisory LLC increased its position in Workday by 952.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 1,642 shares of the software maker’s stock worth $424,000 after buying an additional 1,486 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Workday by 65.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 273 shares of the software maker’s stock worth $70,000 after buying an additional 108 shares during the last quarter. 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.