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

Workday (NASDAQ:WDAY) had its price objective cut by Barclays from $314.00 to $305.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the software maker’s stock.

Other analysts also recently issued research reports about the company. Stifel Nicolaus boosted their target price on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Piper Sandler restated a “neutral” rating and issued a $270.00 price objective (down from $285.00) on shares of Workday in a report on Wednesday. Scotiabank initiated coverage on shares of Workday in a report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price on the stock. Wells Fargo & Company lifted their target price on shares of Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Bank of America cut their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, Workday has an average rating of “Moderate Buy” and an average target price of $288.14.

Workday Stock Performance

Workday stock opened at $249.99 on Wednesday. Workday has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a market cap of $66.25 billion, a P/E ratio of 41.46, a price-to-earnings-growth ratio of 5.03 and a beta of 1.35. The firm’s fifty day moving average price is $248.77 and its 200-day moving average price is $237.46.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.21% and a net margin of 19.86%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the business posted $0.47 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities research analysts expect that Workday will post 2.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the completion of the transaction, the director now directly owns 8,674 shares in the company, valued at $2,097,806.90. This trade represents a 17.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard Harry Sauer sold 3,134 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total transaction of $738,934.52. Following the sale, the insider now directly owns 85,795 shares in the company, valued at $20,228,745.10. The trade was a 3.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 359,954 shares of company stock worth $88,742,132 over the last three months. Company insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. raised its position 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. Kingsview Wealth Management LLC lifted its stake in shares of Workday by 0.9% in the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after buying an additional 43 shares in the last quarter. Diversified Trust Co lifted its stake in shares of Workday by 1.0% in the second quarter. Diversified Trust Co now owns 4,830 shares of the software maker’s stock worth $1,080,000 after buying an additional 47 shares in the last quarter. Opal Wealth Advisors LLC grew its holdings in shares of Workday by 5.2% during the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock valued at $231,000 after buying an additional 47 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. increased its position in shares of Workday by 3.4% during the second quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock valued at $324,000 after acquiring an additional 48 shares in the last quarter. 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.