Workday (NASDAQ:WDAY) Price Target Lowered to $255.00 at Citigroup

Workday (NASDAQ:WDAY) had its price objective reduced by stock analysts at Citigroup from $293.00 to $255.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. Citigroup’s price objective would suggest a potential upside of 13.31% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Bank of America decreased their price objective on Workday from $330.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Barclays decreased their price target on Workday from $326.00 to $316.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $350.00 price objective on shares of Workday in a report on Friday. Guggenheim restated a “sell” rating and issued a $190.00 price objective on shares of Workday in a report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Workday from $300.00 to $285.00 and set an “overweight” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $281.61.

Workday Price Performance

Shares of WDAY stock traded down $35.85 during trading hours on Friday, reaching $225.05. The company had a trading volume of 8,670,863 shares, compared to its average volume of 1,941,976. Workday has a 12-month low of $192.68 and a 12-month high of $311.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. The company has a market capitalization of $59.41 billion, a price-to-earnings ratio of 43.67, a PEG ratio of 7.75 and a beta of 1.33. The stock has a fifty day moving average of $260.89 and a 200-day moving average of $268.88.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, topping the consensus estimate of $0.31 by $0.20. Workday had a return on equity of 4.87% and a net margin of 19.02%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the firm earned $0.16 EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. On average, equities analysts anticipate that Workday will post 1.76 earnings per share for the current year.

Insider Activity

In related news, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the completion of the sale, the insider now owns 165,932 shares in the company, valued at $48,749,162.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Douglas A. Robinson sold 411 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total transaction of $109,695.90. Following the sale, the insider now owns 165,521 shares of the company’s stock, valued at $44,177,554.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the transaction, the insider now directly owns 165,932 shares of the company’s stock, valued at $48,749,162.28. The disclosure for this sale can be found here. Insiders have sold a total of 435,691 shares of company stock valued at $117,731,569 over the last quarter. Corporate insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

A number of institutional investors and hedge funds have recently modified their holdings of the company. Beck Bode LLC boosted its position in Workday by 53.7% during the first quarter. Beck Bode LLC now owns 30,318 shares of the software maker’s stock worth $8,269,000 after purchasing an additional 10,589 shares in the last quarter. Atria Investments Inc raised its stake in shares of Workday by 1.2% during the 1st quarter. Atria Investments Inc now owns 38,296 shares of the software maker’s stock worth $10,445,000 after buying an additional 452 shares during the last quarter. Swedbank AB acquired a new position in shares of Workday during the 1st quarter worth $21,906,000. Pacific Center for Financial Services grew its stake in Workday by 57.0% in the 1st quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock valued at $43,000 after acquiring an additional 57 shares during the last quarter. Finally, Rokos Capital Management LLP grew its stake in Workday by 332.4% in the 1st quarter. Rokos Capital Management LLP now owns 332,986 shares of the software maker’s stock valued at $90,839,000 after acquiring an additional 255,971 shares during the last quarter. Institutional investors and hedge funds 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.