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

Workday (NASDAQ:WDAY - Get Free Report) had its target price decreased by research analysts at Jefferies Financial Group from $350.00 to $325.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the software maker's stock. Jefferies Financial Group's price target points to a potential upside of 47.48% from the stock's previous close.

A number of other analysts have also weighed in on WDAY. Needham & Company LLC reissued a "buy" rating and issued a $300.00 price target on shares of Workday in a report on Monday, March 24th. Morgan Stanley cut Workday from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $330.00 to $275.00 in a research note on Wednesday, February 19th. StockNews.com lowered Workday from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised Workday from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. Finally, KeyCorp raised their target price on shares of Workday from $305.00 to $335.00 and gave the company an "overweight" rating in a research note 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $300.18.

Workday Price Performance

Shares of WDAY traded down $7.96 during trading hours on Monday, hitting $220.37. The stock had a trading volume of 2,200,102 shares, compared to its average volume of 2,545,991. Workday has a 52 week low of $199.81 and a 52 week high of $294.00. The stock has a market capitalization of $58.62 billion, a price-to-earnings ratio of 36.51, a P/E/G ratio of 3.55 and a beta of 1.38. The company's fifty day moving average is $255.12 and its two-hundred day moving average is $254.27. 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. On average, analysts anticipate that Workday will post 2.63 EPS for the current year.

Insider Buying and Selling at Workday

In related news, CAO Mark S. Garfield sold 472 shares of the firm's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the transaction, the chief accounting officer now directly owns 35,408 shares of the company's stock, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sayan Chakraborty sold 6,056 shares of Workday stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the sale, the insider now owns 111,324 shares of the company's stock, valued at $29,556,522. This trade represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 429,316 shares of company stock valued at $108,168,536 in the last ninety days. 20.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Workday

A number of hedge funds have recently added to or reduced their stakes in WDAY. Vanguard Group Inc. increased its position in shares of Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares during the period. Janus Henderson Group PLC raised its position in shares of Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker's stock valued at $1,218,415,000 after buying an additional 480,459 shares in the last quarter. State Street Corp boosted its position in shares of Workday by 1.4% during the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker's stock worth $1,183,611,000 after acquiring an additional 67,380 shares in the last quarter. Geode Capital Management LLC raised its position in Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock valued at $1,193,105,000 after purchasing an additional 1,772,223 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Workday by 60.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock valued at $960,454,000 after purchasing an additional 1,406,088 shares in the last quarter. 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.