Jefferies Financial Group Cuts Workday (NASDAQ:WDAY) Price Target to $325.00

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

Several other research analysts have also recently issued reports on WDAY. Scotiabank decreased their target price on shares of Workday from $355.00 to $305.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. Oppenheimer boosted their price objective on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Needham & Company LLC reiterated a “buy” rating and set a $300.00 target price on shares of Workday in a research note on Monday, March 24th. Guggenheim reissued a “neutral” rating on shares of Workday in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group upped their price target on Workday from $310.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Ten investment 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $300.18.

Workday Stock Performance

Workday stock opened at $235.39 on Monday. Workday has a twelve month low of $199.81 and a twelve month high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. 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 stock’s 50 day moving average is $255.66 and its 200 day moving average is $254.45.

Workday (NASDAQ:WDAY) last released its 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 return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. On average, equities research analysts predict that Workday will post 2.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $253.87, for a total value of $14,216,720.00. Following the sale, the insider now owns 116,000 shares of the company’s stock, valued at $29,448,920. The trade was a 32.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 transaction of $1,586,625.00. Following the transaction, the chief executive officer now owns 13,972 shares of the company’s stock, valued at $3,546,931.92. This trade represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 429,316 shares of company stock valued at $108,168,536 in the last 90 days. Insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

Institutional investors have recently modified their holdings of the stock. Simplicity Wealth LLC increased its position in shares of Workday by 3.0% during the 4th quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock valued at $330,000 after purchasing an additional 37 shares during the last quarter. Marcum Wealth LLC increased its position in Workday by 4.4% during the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after acquiring an additional 41 shares during the last quarter. Custom Index Systems LLC raised its stake in shares of Workday by 3.0% in the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock valued at $364,000 after acquiring an additional 41 shares during the period. AllSquare Wealth Management LLC lifted its holdings in shares of Workday by 19.4% in the 4th quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock worth $65,000 after acquiring an additional 41 shares during the last quarter. Finally, CreativeOne Wealth LLC lifted its holdings in shares of Workday by 1.5% in the 4th quarter. CreativeOne Wealth LLC now owns 2,889 shares of the software maker’s stock worth $745,000 after acquiring an additional 43 shares during the last quarter. 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.