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

Workday (NASDAQ:WDAY - Get Free Report) had its target price lowered by Jefferies Financial Group from $350.00 to $325.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the software maker's stock. Jefferies Financial Group's price target would indicate a potential upside of 38.07% from the stock's current price.

A number of other research firms also recently commented on WDAY. KeyCorp lifted their price target on Workday from $305.00 to $335.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Scotiabank dropped their price target on Workday from $355.00 to $305.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. Canaccord Genuity Group lifted their price objective on shares of Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. BNP Paribas raised shares of Workday to a "strong-buy" rating in a report on Friday, February 14th. Finally, Redburn Atlantic assumed coverage on shares of Workday in a report on Wednesday, February 19th. They issued a "neutral" rating for the company. Ten research 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $300.18.

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Workday Stock Up 0.4 %

NASDAQ:WDAY traded up $0.86 on Monday, reaching $235.39. The stock had a trading volume of 1,924,836 shares, compared to its average volume of 2,531,452. Workday has a 12-month low of $199.81 and a 12-month high of $294.00. The stock has a market cap of $62.61 billion, a P/E ratio of 39.04, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $256.02 and a 200 day moving average of $254.58.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $2.18 billion. On average, research analysts predict that Workday will post 2.63 earnings per share for the current year.

Insider Buying and Selling at Workday

In other Workday news, Director Wayne A.I. Frederick sold 1,829 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total value of $462,901.61. Following the completion of the transaction, the director now directly owns 6,845 shares of the company's stock, valued at approximately $1,732,401.05. The trade was a 21.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the sale, the chief accounting officer now directly owns 35,408 shares in the company, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 431,145 shares of company stock worth $108,631,438. 20.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WDAY. Captrust Financial Advisors boosted its stake in shares of Workday by 24.2% in the 3rd 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 last quarter. Fred Alger Management LLC acquired a new stake in Workday during the 3rd quarter worth $56,000. Wasatch Advisors LP grew 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 worth $2,856,000 after acquiring an additional 4,787 shares during the period. True Wealth Design LLC raised its position 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 valued at $36,000 after acquiring an additional 143 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new position in shares of Workday in the 3rd quarter valued at $8,092,000. 89.81% of the stock is currently 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.