Citigroup Has Lowered Expectations for Workday (NASDAQ:WDAY) Stock Price

Workday (NASDAQ:WDAY) had its price objective trimmed by Citigroup from $287.00 to $270.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the software maker’s stock.

Other analysts have also issued reports about the stock. BMO Capital Markets reiterated an “outperform” rating and set a $300.00 target price on shares of Workday in a research report on Wednesday, September 18th. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price objective on shares of Workday in a report on Thursday, September 19th. Morgan Stanley upped their price objective on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Scotiabank initiated coverage on Workday in a research report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price for the company. Finally, Loop Capital lowered their price target on Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $292.25.

Workday Stock Up 0.9 %

WDAY stock opened at $250.70 on Thursday. Workday has a twelve month low of $199.81 and a twelve month high of $311.28. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market cap of $66.69 billion, a PE ratio of 41.58, a price-to-earnings-growth ratio of 4.51 and a beta of 1.34. The business’s 50-day simple moving average is $262.69 and its 200 day simple moving average is $246.45.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 earnings per share. On average, research analysts anticipate that Workday will post 2.64 earnings per share for the current year.

Insider Activity

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the transaction, the chief executive officer now owns 13,972 shares of the company’s stock, valued at $3,546,931.92. This represents a 30.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the sale, the insider now owns 60,000 shares of the company’s stock, valued at $14,785,200. This represents a 48.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is currently owned by insiders.

Institutional Trading of Workday

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC grew its holdings in Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after purchasing an additional 480,459 shares during the period. State Street Corp grew its holdings in shares of Workday by 1.4% in the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after buying an additional 67,380 shares during the period. Geode Capital Management LLC increased its position in shares of Workday by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after buying an additional 76,618 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Workday by 0.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after buying an additional 14,159 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Workday by 4.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock worth $482,133,000 after acquiring an additional 75,747 shares in the last quarter. 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.