Barclays Issues Pessimistic Forecast for Workday (NASDAQ:WDAY) Stock Price

Workday (NASDAQ:WDAY) had its target price reduced by research analysts at Barclays from $314.00 to $305.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. Barclays‘s target price would indicate a potential upside of 12.88% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. JMP Securities restated a “market outperform” rating and set a $315.00 target price on shares of Workday in a report on Thursday, September 19th. Wells Fargo & Company raised their target price on shares of Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Loop Capital upped their price target on shares of Workday from $255.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Monday. Finally, Evercore ISI lowered their price objective on shares of Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $288.61.

Workday Stock Up 0.9 %

WDAY opened at $270.19 on Wednesday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The business’s fifty day simple moving average is $248.52 and its 200 day simple moving average is $237.21. Workday has a 52 week low of $199.81 and a 52 week high of $311.28. The stock has a market cap of $71.60 billion, a PE ratio of 47.07, a P/E/G ratio of 5.31 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the company posted $0.47 EPS. Workday’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, research analysts expect that Workday will post 2.4 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Wayne A.I. Frederick sold 1,828 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the completion of the transaction, the director now directly owns 8,674 shares in the company, valued at $2,097,806.90. The trade was a 17.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $26,902,816.40. This trade represents a 39.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 359,954 shares of company stock worth $88,742,132 over the last three months. 20.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Capital Performance Advisors LLP bought a new stake in Workday in the 3rd quarter worth about $26,000. SouthState Corp boosted its holdings in shares of Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after acquiring an additional 129 shares during the last quarter. Crewe Advisors LLC grew its stake in shares of Workday by 56.6% in the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock worth $35,000 after acquiring an additional 56 shares during the period. Goodman Advisory Group LLC purchased a new position in shares of Workday during the second quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. lifted its position in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 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.