Citigroup Lowers Workday (NASDAQ:WDAY) Price Target to $270.00

Workday (NASDAQ:WDAY) had its price objective reduced by Citigroup from $274.00 to $270.00 in a report issued on Wednesday, Benzinga reports. They currently have a neutral rating on the software maker’s stock.

WDAY has been the topic of a number of other reports. BMO Capital Markets restated an outperform rating and set a $300.00 target price on shares of Workday in a research report on Wednesday, September 18th. Piper Sandler restated an overweight rating and issued a $285.00 price objective on shares of Workday in a report on Wednesday, September 18th. Needham & Company LLC lowered their target price on shares of Workday from $350.00 to $300.00 and set a buy rating for the company in a report on Wednesday, September 18th. Canaccord Genuity Group reiterated a buy rating and set a $300.00 target price on shares of Workday in a research report on Friday, September 13th. Finally, The Goldman Sachs Group raised their price target on Workday from $300.00 to $305.00 and gave the stock a buy rating in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $287.04.

Workday Trading Down 0.7 %

WDAY opened at $243.62 on Wednesday. Workday has a 1-year low of $199.81 and a 1-year high of $311.28. The firm has a 50-day moving average price of $238.49 and a two-hundred day moving average price of $241.73. The stock has a market capitalization of $64.56 billion, a PE ratio of 44.22, a PEG ratio of 4.91 and a beta of 1.35. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.10. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 EPS. As a group, equities analysts anticipate that Workday will post 2.39 earnings per share for the current fiscal year.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 78,279 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at approximately $23,059,998.33. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $226.67, for a total value of $710,383.78. Following the sale, the insider now directly owns 92,014 shares in the company, valued at $20,856,813.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 78,279 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $23,059,998.33. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 467,402 shares of company stock valued at $111,071,544. 20.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Workday

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WDAY. Crewe Advisors LLC acquired a new position in shares of Workday during the 1st quarter worth approximately $27,000. Sound Income Strategies LLC grew its stake in shares of Workday by 74.2% in the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after buying an additional 49 shares in the last quarter. SouthState Corp increased its holdings in Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after buying an additional 129 shares during the last quarter. Goodman Advisory Group LLC bought a new stake in Workday during the second quarter worth $35,000. Finally, Asset Dedication LLC acquired a new stake in Workday in the second quarter valued at $36,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.