Barclays Has Lowered Expectations for Workday (NASDAQ:WDAY) Stock Price

Workday (NASDAQ:WDAY) had its target price reduced by equities research analysts at Barclays from $314.00 to $305.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the software maker’s stock. Barclays‘s price target would suggest a potential upside of 20.36% from the company’s previous close.

Several other brokerages have also recently issued reports on WDAY. Canaccord Genuity Group reiterated a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Friday, September 13th. Loop Capital increased their price objective on Workday from $255.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Evercore ISI dropped their target price on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Scotiabank started coverage on shares of Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $288.14.

Workday Stock Down 6.2 %

Shares of NASDAQ:WDAY opened at $253.40 on Wednesday. Workday has a 1 year low of $199.81 and a 1 year high of $311.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The stock’s 50-day moving average is $248.74 and its 200 day moving average is $237.44. The company has a market cap of $67.15 billion, a PE ratio of 42.02, a P/E/G ratio of 5.36 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Workday had a return on equity of 6.21% and a net margin of 19.86%. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 earnings per share. Sell-side analysts anticipate that Workday will post 2.4 EPS for the current year.

Insider Transactions at Workday

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $255.45, for a total value of $1,915,875.00. Following the completion of the sale, the director now owns 90,000 shares in the company, valued at approximately $22,990,500. This represents a 7.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $26,902,816.40. The trade was a 39.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 359,954 shares of company stock worth $88,742,132 in the last three months. Corporate insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

Institutional investors have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Workday by 27.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,417 shares of the software maker’s stock valued at $659,000 after purchasing an additional 525 shares during the last quarter. Comerica Bank boosted its holdings in shares of Workday by 13.2% during the 1st quarter. Comerica Bank now owns 42,664 shares of the software maker’s stock valued at $11,637,000 after purchasing an additional 4,977 shares during the last quarter. Plato Investment Management Ltd boosted its holdings in shares of Workday by 2,119.4% during the 1st quarter. Plato Investment Management Ltd now owns 3,085 shares of the software maker’s stock valued at $841,000 after purchasing an additional 2,946 shares during the last quarter. Swedbank AB bought a new position in shares of Workday during the 1st quarter valued at about $21,906,000. Finally, Atria Investments Inc boosted its holdings 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 valued at $10,445,000 after purchasing an additional 452 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

About Workday

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.