Barclays Cuts Workday (NASDAQ:WDAY) Price Target to $286.00

Workday (NASDAQ:WDAY) had its price objective decreased by Barclays from $316.00 to $286.00 in a research note released on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the software maker’s stock.

WDAY has been the subject of a number of other reports. Stifel Nicolaus reduced their price target on shares of Workday from $290.00 to $250.00 and set a hold rating for the company in a report on Friday. Needham & Company LLC restated a buy rating and issued a $350.00 price target on shares of Workday in a report on Friday. Piper Sandler reduced their price objective on shares of Workday from $330.00 to $280.00 and set an overweight rating for the company in a report on Friday. Mizuho reduced their price objective on shares of Workday from $325.00 to $280.00 and set a buy rating for the company in a report on Friday. Finally, Jefferies Financial Group reduced their price objective on shares of Workday from $350.00 to $330.00 and set a buy rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, Workday presently has a consensus rating of Moderate Buy and a consensus price target of $283.96.

Workday Trading Down 15.3 %

NASDAQ:WDAY opened at $220.91 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $58.32 billion, a price-to-earnings ratio of 39.80, a PEG ratio of 6.59 and a beta of 1.33. The firm has a fifty day simple moving average of $259.94 and a two-hundred day simple moving average of $269.56. Workday has a 12 month low of $192.68 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 6.02%. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period last year, the company posted $0.16 earnings per share. Analysts expect that Workday will post 2.5 EPS for the current fiscal year.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $264.89, for a total value of $14,833,840.00. Following the sale, the insider now owns 843,000 shares of the company’s stock, valued at $223,302,270. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Workday news, major shareholder David A. Duffield sold 65,221 shares of Workday stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $268.29, for a total value of $17,498,142.09. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at $27,633,065.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the completion of the sale, the insider now directly owns 843,000 shares in the company, valued at approximately $223,302,270. The disclosure for this sale can be found here. Insiders have sold 435,691 shares of company stock valued at $117,731,569 over the last ninety days. Corporate insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Several hedge funds have recently added to or reduced their stakes in WDAY. Vanguard Group Inc. increased its stake in shares of Workday by 2.2% in the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after purchasing an additional 324,540 shares in the last quarter. Norges Bank purchased a new position in shares of Workday in the fourth quarter worth about $1,491,149,000. Wellington Management Group LLP increased its stake in shares of Workday by 37.4% in the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock worth $1,109,348,000 after purchasing an additional 1,406,153 shares in the last quarter. Polen Capital Management LLC increased its stake in shares of Workday by 2.0% in the third quarter. Polen Capital Management LLC now owns 3,950,320 shares of the software maker’s stock worth $848,726,000 after purchasing an additional 78,352 shares in the last quarter. Finally, Sustainable Growth Advisers LP increased its stake in shares of Workday by 9.7% in the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock worth $927,998,000 after purchasing an additional 301,463 shares in 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.