Jefferies Financial Group Trims Workday (NASDAQ:WDAY) Target Price to $330.00

Workday (NASDAQ:WDAY) had its price objective lowered by Jefferies Financial Group from $350.00 to $330.00 in a report published on Friday, Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

WDAY has been the topic of a number of other research reports. Piper Sandler reduced their target price on Workday from $330.00 to $280.00 and set an overweight rating on the stock in a report on Friday. Evercore ISI cut their price objective on Workday from $350.00 to $300.00 and set an outperform rating on the stock in a report on Friday. Robert W. Baird cut their price objective on Workday from $316.00 to $265.00 and set an outperform rating on the stock in a report on Friday. BMO Capital Markets cut their price objective on Workday from $338.00 to $300.00 and set an outperform rating on the stock in a report on Friday. Finally, JPMorgan Chase & Co. raised their price objective on Workday from $260.00 to $300.00 and gave the company an overweight rating in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $283.96.

Workday Trading Down 15.3 %

Shares of NASDAQ:WDAY opened at $220.91 on Friday. The company has a market capitalization of $58.32 billion, a P/E ratio of 39.80, a P/E/G ratio of 6.59 and a beta of 1.33. Workday has a 1 year low of $192.68 and a 1 year high of $311.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97. The business’s 50 day simple moving average is $259.94 and its 200 day simple moving average is $269.56.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. Workday had a return on equity of 6.02% and a net margin of 19.66%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 EPS. On average, research analysts anticipate that Workday will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 843,000 shares of the company’s stock, valued at approximately $223,302,270. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Workday news, major shareholder David A. Duffield sold 64,329 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $27,690,743.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $264.89, for a total value of $14,833,840.00. Following the sale, the insider now directly owns 843,000 shares of the company’s stock, valued at $223,302,270. The disclosure for this sale can be found here. In the last three months, insiders have sold 435,691 shares of company stock valued at $117,731,569. 20.00% of the stock is owned by company insiders.

Institutional Trading of Workday

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. increased its holdings in Workday by 5.1% during the 4th quarter. Vontobel Holding Ltd. now owns 67,077 shares of the software maker’s stock worth $18,517,000 after purchasing an additional 3,260 shares in the last quarter. Morgan Stanley grew its holdings in shares of Workday by 47.0% in the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after acquiring an additional 872,288 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Workday by 9.9% in the fourth quarter. Assetmark Inc. now owns 21,414 shares of the software maker’s stock valued at $5,912,000 after acquiring an additional 1,933 shares in the last quarter. Coldstream Capital Management Inc. bought a new position in shares of Workday in the fourth quarter valued at approximately $481,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Workday by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 744,482 shares of the software maker’s stock valued at $205,522,000 after acquiring an additional 26,307 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

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.