Barclays Lowers Workday (NASDAQ:WDAY) Price Target to $238.00

Workday (NASDAQ:WDAYGet Rating) had its price target decreased by Barclays from $319.00 to $238.00 in a research note released on Friday, The Fly reports. Barclays currently has an overweight rating on the software maker’s stock.

A number of other equities analysts have also weighed in on WDAY. Mizuho boosted their price target on shares of Workday from $280.00 to $300.00 in a research report on Tuesday, March 1st. Exane BNP Paribas cut Workday from an outperform rating to a neutral rating in a report on Tuesday, March 29th. Needham & Company LLC cut their price target on Workday from $360.00 to $300.00 and set a buy rating for the company in a report on Tuesday, March 1st. KeyCorp reduced their price objective on Workday from $312.00 to $268.00 and set an overweight rating on the stock in a research report on Monday, April 25th. Finally, Citigroup upgraded Workday to a buy rating and set a $295.00 target price for the company in a report on Tuesday, February 1st. Four analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $293.59.

WDAY stock opened at $165.79 on Friday. Workday has a 52-week low of $161.04 and a 52-week high of $307.81. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. The firm has a market cap of $41.45 billion, a P/E ratio of 1,657.90 and a beta of 1.39. The company’s 50-day simple moving average is $213.80 and its 200-day simple moving average is $241.34.

Workday (NASDAQ:WDAYGet Rating) last issued its quarterly earnings results on Monday, February 28th. The software maker reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Workday had a return on equity of 2.63% and a net margin of 0.57%. The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. On average, analysts anticipate that Workday will post -0.45 earnings per share for the current fiscal year.

In other news, CEO Aneel Bhusri sold 11,722 shares of the company’s stock in a transaction on Monday, April 18th. The stock was sold at an average price of $218.13, for a total transaction of $2,556,919.86. Following the sale, the chief executive officer now owns 361,606 shares of the company’s stock, valued at $78,877,116.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James Bozzini sold 10,330 shares of Workday stock in a transaction on Monday, April 18th. The shares were sold at an average price of $218.13, for a total value of $2,253,282.90. Following the completion of the transaction, the chief operating officer now owns 134,977 shares of the company’s stock, valued at $29,442,533.01. The disclosure for this sale can be found here. Insiders have sold 256,453 shares of company stock worth $60,374,855 over the last quarter. Insiders own 21.74% of the company’s stock.

Large investors have recently modified their holdings of the stock. Consolidated Planning Corp acquired a new position in Workday during the 3rd quarter worth approximately $27,000. Financial Management Professionals Inc. acquired a new position in shares of Workday during the fourth quarter worth $27,000. Riverview Trust Co acquired a new position in shares of Workday during the first quarter worth $27,000. Dark Forest Capital Management LP purchased a new position in Workday in the third quarter valued at $28,000. Finally, Arlington Partners LLC acquired a new stake in Workday in the fourth quarter valued at $28,000. 70.64% of the stock is currently owned by hedge funds and other institutional investors.

About Workday (Get Rating)

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments, and to manage their business and operations. The company offers a suite of financial management applications, which enable chief financial officers to maintain accounting information in the general ledger; manage financial processes; 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.

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