Barclays Trims Workday (NASDAQ:WDAY) Target Price to $318.00

Workday (NASDAQ:WDAY) had its price target lowered by Barclays from $345.00 to $318.00 in a research note issued to investors on Wednesday morning, The Fly reports.

Several other brokerages also recently issued reports on WDAY. The Goldman Sachs Group increased their price objective on shares of Workday from $340.00 to $345.00 and gave the stock a buy rating in a research report on Friday, November 19th. Robert W. Baird reissued a buy rating and set a $275.00 price objective on shares of Workday in a research report on Wednesday, November 24th. UBS Group raised shares of Workday from a neutral rating to a buy rating and increased their price objective for the stock from $255.00 to $370.00 in a research report on Tuesday, November 16th. Mizuho increased their price objective on shares of Workday from $290.00 to $340.00 and gave the stock a buy rating in a research report on Tuesday, November 16th. Finally, Credit Suisse Group lowered their price objective on shares of Workday from $310.00 to $300.00 and set a neutral rating for the company in a research report on Friday, November 19th. Two investment analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $333.14.

WDAY opened at $254.31 on Wednesday. The firm’s fifty day moving average is $275.05 and its two-hundred day moving average is $261.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $63.58 billion, a PE ratio of 2,825.98, a price-to-earnings-growth ratio of 27.25 and a beta of 1.35. Workday has a twelve month low of $217.60 and a twelve month high of $307.81.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, November 18th. The software maker reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.24. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. Workday had a net margin of 0.63% and a return on equity of 3.26%. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period last year, the business posted $0.86 earnings per share. Equities analysts forecast that Workday will post 0.45 EPS for the current fiscal year.

In other news, Director David A. Duffield sold 280,777 shares of the firm’s stock in a transaction dated Wednesday, December 1st. The shares were sold at an average price of $267.15, for a total transaction of $75,009,575.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Richard Harry Sauer sold 590 shares of the firm’s stock in a transaction dated Monday, November 22nd. The stock was sold at an average price of $285.51, for a total transaction of $168,450.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 720,911 shares of company stock valued at $188,266,936. Corporate insiders own 24.06% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Consolidated Planning Corp acquired a new stake in Workday in the 3rd quarter worth about $27,000. Dark Forest Capital Management LP acquired a new stake in Workday in the 3rd quarter worth about $28,000. PSI Advisors LLC acquired a new stake in Workday in the 3rd quarter worth about $37,000. Assetmark Inc. raised its stake in Workday by 315.0% in the 3rd quarter. Assetmark Inc. now owns 166 shares of the software maker’s stock worth $41,000 after purchasing an additional 126 shares in the last quarter. Finally, Wagner Wealth Management LLC acquired a new stake in Workday in the 2nd quarter worth about $53,000. Institutional investors and hedge funds own 68.74% of the company’s stock.

About Workday

Workday, Inc engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management and analytics applications designed for companies, educational institutions and government agencies. The company was founded by David A.

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