Jefferies Financial Group Has Lowered Expectations for Workday (NASDAQ:WDAY) Stock Price

Workday (NASDAQ:WDAY) had its price objective trimmed by Jefferies Financial Group from $350.00 to $325.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

Other analysts have also recently issued research reports about the company. Daiwa America raised Workday to a “strong-buy” rating in a research report on Tuesday, March 4th. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research report on Thursday, February 6th. UBS Group boosted their target price on shares of Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Wells Fargo & Company raised their price target on shares of Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Royal Bank of Canada lifted their price objective on shares of Workday from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus price target of $300.18.

Workday Stock Performance

WDAY stock opened at $235.39 on Monday. Workday has a 1-year low of $199.81 and a 1-year high of $294.00. The business has a 50-day moving average price of $255.66 and a 200 day moving average price of $254.45. The company has a market capitalization of $62.61 billion, a P/E ratio of 39.04, a PEG ratio of 3.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. As a group, equities research analysts forecast that Workday will post 2.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Mark S. Garfield sold 472 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at $8,789,681.92. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the sale, the chief executive officer now directly owns 13,972 shares in the company, valued at $3,546,931.92. This trade represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 429,316 shares of company stock valued at $108,168,536. Company insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Roxbury Financial LLC purchased a new position in shares of Workday in the 4th quarter valued at about $25,000. Crews Bank & Trust acquired a new stake in Workday in the fourth quarter valued at approximately $26,000. Avion Wealth grew its holdings in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after purchasing an additional 86 shares during the period. TCTC Holdings LLC purchased a new stake in shares of Workday in the fourth quarter valued at approximately $35,000. Finally, True Wealth Design LLC raised its stake in shares of Workday by 4,766.7% during the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after buying an additional 143 shares during the period. Institutional investors and hedge funds 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.