Workday (NASDAQ:WDAY) Given New $305.00 Price Target at Barclays

Workday (NASDAQ:WDAY) had its price target reduced by Barclays from $314.00 to $305.00 in a research note published on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the software maker’s stock.

WDAY has been the topic of a number of other research reports. Wells Fargo & Company increased their target price on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. JMP Securities reissued a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a report on Thursday, September 19th. Canaccord Genuity Group restated a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Friday, September 13th. Evercore ISI decreased their price target on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Finally, Scotiabank assumed coverage on shares of Workday in a research report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $288.14.

Workday Stock Performance

Shares of WDAY stock opened at $249.99 on Wednesday. The company has a 50 day moving average price of $248.77 and a 200-day moving average price of $237.46. Workday has a 52 week low of $199.81 and a 52 week high of $311.28. The firm has a market capitalization of $66.25 billion, a PE ratio of 41.46, a P/E/G ratio of 5.03 and a beta of 1.35. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.21%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the company posted $0.47 earnings per share. As a group, equities research analysts expect that Workday will post 2.4 earnings per share for the current year.

Insider Buying and Selling at Workday

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in shares of Workday in the third quarter valued at $26,000. SouthState Corp raised its position in Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after purchasing an additional 129 shares during the period. Crewe Advisors LLC raised its position in Workday by 56.6% in the 2nd quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock worth $35,000 after purchasing an additional 56 shares during the period. Goodman Advisory Group LLC bought a new stake in Workday in the second quarter worth about $35,000. Finally, Meeder Asset Management Inc. boosted its holdings in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares during the period. 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.