Workday (NASDAQ:WDAY) Price Target Lowered to $208.00 at Barclays

Workday (NASDAQ:WDAYGet Rating) had its price objective lowered by equities researchers at Barclays from $238.00 to $208.00 in a report released on Friday, The Fly reports. Barclays‘s price target would suggest a potential upside of 23.70% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. UBS Group cut shares of Workday from a “buy” rating to a “neutral” rating and set a $185.00 target price on the stock. in a research note on Tuesday, May 17th. Monness Crespi & Hardt dropped their price objective on shares of Workday to $230.00 and set a “na” rating for the company in a research note on Wednesday, May 18th. Evercore ISI decreased their target price on shares of Workday from $350.00 to $325.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 1st. BNP Paribas lowered Workday from an “outperform” rating to a “neutral” rating and set a $230.00 price target for the company. in a research report on Tuesday, March 29th. Finally, Needham & Company LLC reduced their price objective on Workday from $360.00 to $300.00 and set a “buy” rating on the stock in a research report on Tuesday, March 1st. Four equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Workday currently has an average rating of “Buy” and an average price target of $270.93.

WDAY stock opened at $168.15 on Friday. The stock has a market capitalization of $42.04 billion, a P/E ratio of 1,681.50 and a beta of 1.39. Workday has a 52 week low of $157.49 and a 52 week high of $307.81. The firm has a 50-day simple moving average of $209.50 and a 200-day simple moving average of $239.37. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14.

Workday (NASDAQ:WDAYGet Rating) last announced its earnings results on Thursday, May 26th. The software maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.02). The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.43 billion. Workday had a net margin of 0.57% and a return on equity of 2.63%. Workday’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.01) EPS. On average, analysts expect that Workday will post -0.45 earnings per share for the current year.

In related news, CEO Gomez Luciano Fernandez sold 2,424 shares of the stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $245.07, for a total value of $594,049.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO James Bozzini sold 10,330 shares of Workday stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $218.13, for a total value of $2,253,282.90. Following the sale, the chief operating officer now directly owns 134,977 shares of the company’s stock, valued at $29,442,533.01. The disclosure for this sale can be found here. Over the last quarter, insiders sold 256,453 shares of company stock valued at $60,374,855. 21.74% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Evolution Wealth Advisors LLC boosted its holdings in shares of Workday by 3.6% in the 4th quarter. Evolution Wealth Advisors LLC now owns 1,198 shares of the software maker’s stock valued at $327,000 after buying an additional 42 shares in the last quarter. Tower View Investment Management & Research LLC lifted its position in Workday by 0.7% in the fourth quarter. Tower View Investment Management & Research LLC now owns 6,643 shares of the software maker’s stock valued at $1,815,000 after acquiring an additional 47 shares during the last quarter. Wetherby Asset Management Inc. boosted its stake in Workday by 0.3% in the fourth quarter. Wetherby Asset Management Inc. now owns 16,284 shares of the software maker’s stock valued at $4,449,000 after acquiring an additional 49 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in shares of Workday by 2.8% during the fourth quarter. Belpointe Asset Management LLC now owns 1,925 shares of the software maker’s stock worth $526,000 after purchasing an additional 53 shares during the last quarter. Finally, Lloyd Advisory Services LLC. increased its position in shares of Workday by 21.0% during the fourth quarter. Lloyd Advisory Services LLC. now owns 323 shares of the software maker’s stock worth $88,000 after purchasing an additional 56 shares in the last quarter. 70.64% of the stock is currently owned by institutional investors.

About Workday (Get Rating)

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments, and to manage their business and operations. The company offers a suite of financial management applications, which enable chief financial officers to maintain accounting information in the general ledger; manage financial processes; 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.

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