Workday (NASDAQ:WDAY) Price Target Lowered to $325.00 at Jefferies Financial Group

Workday (NASDAQ:WDAY) had its price target lowered by Jefferies Financial Group from $350.00 to $325.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

A number of other analysts have also issued reports on WDAY. Royal Bank of Canada increased their price target on shares of Workday from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Guggenheim reissued a “neutral” rating on shares of Workday in a research note on Wednesday, February 26th. UBS Group upped their price target on shares of Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Redburn Atlantic assumed coverage on Workday in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, BNP Paribas upgraded Workday to a “strong-buy” rating in a research note on Friday, February 14th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $300.18.

Workday Price Performance

WDAY stock opened at $233.53 on Monday. Workday has a one year low of $199.81 and a one year high of $294.00. The firm has a 50-day moving average of $256.35 and a two-hundred day moving average of $254.69. The firm has a market capitalization of $62.12 billion, a PE ratio of 38.73, a P/E/G ratio of 3.55 and a beta of 1.38. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, analysts forecast that Workday will post 2.63 earnings per share for the current year.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 70,144 shares of Workday stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $250.26, for a total transaction of $17,554,237.44. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $25,776,029.22. The trade was a 40.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark S. Garfield sold 472 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 431,145 shares of company stock worth $108,631,438. 20.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after purchasing an additional 4,517,272 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of Workday in the 4th quarter worth approximately $658,735,000. Norges Bank bought a new stake in Workday during the 4th quarter worth approximately $645,710,000. Parnassus Investments LLC increased its holdings in Workday by 562.2% during the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock valued at $631,589,000 after purchasing an additional 2,078,097 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Workday by 61.9% in the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock worth $1,193,105,000 after purchasing an additional 1,772,223 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

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.