Workday (NASDAQ:WDAY) Given New $325.00 Price Target at Jefferies Financial Group

Workday (NASDAQ:WDAY) had its target price lowered by stock analysts at Jefferies Financial Group from $350.00 to $325.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 39.02% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Morgan Stanley downgraded Workday from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $330.00 to $275.00 in a report on Wednesday, February 19th. Guggenheim reaffirmed a “neutral” rating on shares of Workday in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and upped their price target for the company from $265.00 to $300.00 in a research note on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 target price on shares of Workday in a report on Monday, March 24th. Finally, KeyCorp upped their price target on shares of Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and a consensus target price of $300.18.

Workday Trading Down 2.0 %

WDAY opened at $233.78 on Monday. The firm has a market cap of $62.19 billion, a PE ratio of 38.79, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. Workday has a twelve month low of $199.81 and a twelve month high of $294.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The firm’s fifty day moving average is $256.67 and its two-hundred day moving average is $254.82.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Equities research analysts anticipate that Workday will post 2.63 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 70,144 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $250.26, for a total transaction of $17,554,237.44. Following the sale, the insider now owns 102,997 shares in the company, valued at approximately $25,776,029.22. This trade represents a 40.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the transaction, the chief executive officer now directly owns 13,972 shares in the company, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 431,145 shares of company stock worth $108,631,438 over the last 90 days. Corporate insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Several hedge funds have recently added to or reduced their stakes in WDAY. Captrust Financial Advisors boosted its stake in shares of Workday by 24.2% during the third quarter. Captrust Financial Advisors now owns 12,853 shares of the software maker’s stock valued at $3,141,000 after purchasing an additional 2,506 shares during the period. Fred Alger Management LLC purchased a new stake in shares of Workday during the third quarter worth about $56,000. Wasatch Advisors LP increased its holdings in Workday by 69.4% during the 3rd quarter. Wasatch Advisors LP now owns 11,687 shares of the software maker’s stock valued at $2,856,000 after purchasing an additional 4,787 shares during the period. True Wealth Design LLC increased its holdings in Workday by 4,766.7% during the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after purchasing an additional 143 shares during the period. Finally, Erste Asset Management GmbH bought a new position in Workday during the 3rd quarter valued at approximately $8,092,000. 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.