Citigroup Trims Workday (NASDAQ:WDAY) Target Price to $255.00

Workday (NASDAQ:WDAY) had its price target dropped by Citigroup from $293.00 to $255.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the software maker’s stock. Citigroup’s price objective would indicate a potential upside of 13.31% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity Group decreased their price target on shares of Workday from $305.00 to $270.00 and set a “buy” rating for the company in a report on Friday. TD Cowen cut their price target on Workday from $330.00 to $290.00 and set a “buy” rating for the company in a report on Friday. Mizuho lowered their price objective on shares of Workday from $325.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday. Wells Fargo & Company reduced their price target on shares of Workday from $350.00 to $325.00 and set an “overweight” rating for the company in a report on Friday. Finally, Barclays dropped their price objective on shares of Workday from $326.00 to $316.00 and set an “overweight” rating on the stock in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, Workday currently has an average rating of “Moderate Buy” and an average target price of $281.61.

Workday Stock Down 13.7 %

NASDAQ WDAY traded down $35.85 during trading on Friday, reaching $225.05. The company’s stock had a trading volume of 8,670,863 shares, compared to its average volume of 1,941,976. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $59.41 billion, a PE ratio of 43.67, a PEG ratio of 7.75 and a beta of 1.33. Workday has a 1-year low of $192.68 and a 1-year high of $311.28. The business has a 50-day moving average price of $260.89 and a 200-day moving average price of $268.88.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. Workday had a return on equity of 4.87% and a net margin of 19.02%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period last year, the business earned $0.16 EPS. The firm’s revenue was up 18.1% compared to the same quarter last year. On average, research analysts forecast that Workday will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Workday news, insider Douglas A. Robinson sold 411 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total value of $109,695.90. Following the completion of the transaction, the insider now directly owns 165,521 shares of the company’s stock, valued at $44,177,554.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the sale, the insider now owns 165,932 shares in the company, valued at $48,749,162.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Douglas A. Robinson sold 411 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total value of $109,695.90. Following the completion of the transaction, the insider now owns 165,521 shares in the company, valued at approximately $44,177,554.90. The disclosure for this sale can be found here. Insiders have sold a total of 435,691 shares of company stock valued at $117,731,569 in the last 90 days. 20.00% of the stock is currently owned by insiders.

Institutional Trading of Workday

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ORG Partners LLC boosted its position in shares of Workday by 1.2% in the 4th quarter. ORG Partners LLC now owns 2,856 shares of the software maker’s stock worth $788,000 after purchasing an additional 34 shares during the last quarter. VisionPoint Advisory Group LLC raised its stake in Workday by 27.6% during the 4th quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock worth $43,000 after buying an additional 34 shares during the period. Carolinas Wealth Consulting LLC grew its stake in Workday by 9.7% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock valued at $106,000 after acquiring an additional 34 shares during the period. Washington Trust Advisors Inc. increased its holdings in shares of Workday by 8.1% in the fourth quarter. Washington Trust Advisors Inc. now owns 481 shares of the software maker’s stock worth $133,000 after acquiring an additional 36 shares in the last quarter. Finally, Meitav Investment House Ltd. raised its position in shares of Workday by 2.6% during the fourth quarter. Meitav Investment House Ltd. now owns 1,401 shares of the software maker’s stock worth $387,000 after purchasing an additional 36 shares during the period. 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.