Workday (NASDAQ:WDAY) Price Target Lowered to $275.00 at Stifel Nicolaus

Workday (NASDAQ:WDAY) had its target price reduced by Stifel Nicolaus from $310.00 to $275.00 in a report published on Friday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the software maker’s stock.

Other equities analysts also recently issued reports about the company. BNP Paribas raised Workday to a “strong-buy” rating in a research note on Friday, February 14th. JMP Securities reiterated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a research report on Friday. Redburn Atlantic assumed coverage on shares of Workday in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. lowered their price target on shares of Workday from $310.00 to $295.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, BMO Capital Markets increased their price target on shares of Workday from $300.00 to $314.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Nine equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.69.

Workday Price Performance

Shares of NASDAQ WDAY opened at $238.01 on Friday. The stock has a 50 day moving average of $242.57 and a two-hundred day moving average of $254.20. Workday has a twelve month low of $199.81 and a twelve month high of $294.00. The stock has a market cap of $63.31 billion, a P/E ratio of 39.47, a P/E/G ratio of 3.55 and a beta of 1.30. 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 posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.22. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period last year, the firm earned $1.74 EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, research analysts forecast that Workday will post 2.63 earnings per share for the current year.

Insider Buying and Selling at Workday

In related news, insider Sayan Chakraborty sold 6,056 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the transaction, the insider now owns 111,324 shares of the company’s stock, valued at approximately $29,556,522. This represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mark S. Garfield sold 497 shares of the firm’s stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total transaction of $112,595.35. Following the sale, the chief accounting officer now owns 34,385 shares in the company, valued at approximately $7,789,921.75. This trade represents a 1.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 321,724 shares of company stock worth $77,976,126. Corporate insiders own 19.31% of the company’s stock.

Institutional Investors Weigh In On Workday

A number of hedge funds and other institutional investors have recently made changes to their positions in WDAY. Simplicity Wealth LLC lifted its position in Workday by 3.0% during the fourth quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock worth $330,000 after buying an additional 37 shares during the period. Custom Index Systems LLC increased its stake in shares of Workday by 3.0% during the 4th quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock valued at $364,000 after acquiring an additional 41 shares during the last quarter. AllSquare Wealth Management LLC boosted its position in shares of Workday by 19.4% in the fourth quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock worth $65,000 after acquiring an additional 41 shares during the last quarter. Private Trust Co. NA boosted its position in shares of Workday by 15.2% in the first quarter. Private Trust Co. NA now owns 318 shares of the software maker’s stock worth $74,000 after acquiring an additional 42 shares during the last quarter. Finally, CreativeOne Wealth LLC grew its holdings in Workday by 1.5% in the fourth quarter. CreativeOne Wealth LLC now owns 2,889 shares of the software maker’s stock valued at $745,000 after purchasing an additional 43 shares during the period. 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.