Jefferies Financial Group Trims Workday (NASDAQ:WDAY) Target Price to $330.00

Workday (NASDAQ:WDAY) had its target price trimmed by Jefferies Financial Group from $350.00 to $330.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

A number of other research analysts have also recently commented on WDAY. Evercore ISI decreased their target price on shares of Workday from $350.00 to $300.00 and set an outperform rating on the stock in a research report on Friday. Guggenheim reaffirmed a sell rating and issued a $190.00 target price on shares of Workday in a research report on Tuesday, February 27th. Barclays decreased their target price on shares of Workday from $326.00 to $316.00 and set an overweight rating on the stock in a research report on Tuesday, February 27th. Mizuho decreased their target price on shares of Workday from $325.00 to $280.00 and set a buy rating on the stock in a research report on Friday. Finally, StockNews.com cut shares of Workday from a strong-buy rating to a buy rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $283.96.

Workday Trading Down 15.3 %

Shares of WDAY opened at $220.91 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday has a 12-month low of $192.68 and a 12-month high of $311.28. The firm has a 50-day moving average price of $259.94 and a 200 day moving average price of $269.56. The firm has a market capitalization of $58.32 billion, a P/E ratio of 39.80, a P/E/G ratio of 6.59 and a beta of 1.33.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 6.02%. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the firm posted $0.16 earnings per share. Workday’s quarterly revenue was up 18.1% on a year-over-year basis. Sell-side analysts forecast that Workday will post 2.5 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the sale, the insider now directly owns 843,000 shares in the company, valued at $223,302,270. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $264.89, for a total value of $14,833,840.00. Following the transaction, the insider now directly owns 843,000 shares in the company, valued at $223,302,270. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 65,221 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $268.29, for a total transaction of $17,498,142.09. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at $27,633,065.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 435,691 shares of company stock worth $117,731,569. Company insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

Several hedge funds have recently added to or reduced their stakes in WDAY. Beacon Capital Management LLC increased its stake in Workday by 333.3% in the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after purchasing an additional 70 shares during the last quarter. VisionPoint Advisory Group LLC grew its position in shares of Workday by 215.4% during the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after acquiring an additional 84 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of Workday during the first quarter worth approximately $27,000. Clear Street Markets LLC purchased a new position in shares of Workday during the third quarter worth approximately $29,000. Finally, Exchange Traded Concepts LLC grew its position in shares of Workday by 1,750.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after acquiring an additional 105 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

About Workday

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.