Jefferies Financial Group Issues Pessimistic Forecast for Workday (NASDAQ:WDAY) Stock Price

Workday (NASDAQ:WDAY) had its price target dropped by analysts at Jefferies Financial Group from $350.00 to $325.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 39.02% from the stock’s current price.

WDAY has been the topic of several other research reports. BNP Paribas raised Workday to a “strong-buy” rating in a report on Friday, February 14th. Royal Bank of Canada increased their price objective on shares of Workday from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. KeyCorp boosted 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. Loop Capital raised their price target on shares of Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, February 19th. Finally, Stifel Nicolaus boosted their price objective on Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $300.18.

Workday Trading Down 2.0 %

WDAY opened at $233.78 on Monday. The firm’s fifty day moving average price is $256.67 and its 200 day moving average price is $254.82. The stock has a market capitalization of $62.19 billion, a PE ratio of 38.79, a P/E/G ratio of 3.55 and a beta of 1.38. Workday has a 12-month low of $199.81 and a 12-month high of $294.00. 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) last issued its earnings results 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 return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. As a group, research analysts expect that Workday will post 2.63 EPS for the current fiscal year.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 71,672 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $248.58, for a total value of $17,816,225.76. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at $25,602,994.26. The trade was a 41.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the sale, the chief accounting officer now 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 431,145 shares of company stock valued at $108,631,438. Corporate insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Simplicity Wealth LLC boosted its stake in shares of Workday by 3.0% in 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 boosted its stake in Workday by 4.4% in 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 position in shares of Workday by 3.0% during the 4th 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 last quarter. AllSquare Wealth Management LLC lifted its stake 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 valued at $65,000 after purchasing an additional 41 shares during the period. Finally, CreativeOne Wealth LLC boosted its position 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 purchasing an additional 43 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

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.