Workday (NASDAQ:WDAY) PT Lowered to $270.00 at Citigroup

Workday (NASDAQ:WDAY) had its price target trimmed by Citigroup from $274.00 to $270.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the software maker’s stock.

Several other brokerages also recently issued reports on WDAY. Barclays upped their price objective on shares of Workday from $286.00 to $289.00 and gave the company an overweight rating in a research note on Friday, August 23rd. KeyCorp upped their price objective on shares of Workday from $275.00 to $305.00 and gave the company an overweight rating in a research note on Friday, August 23rd. Piper Sandler reissued an overweight rating and set a $285.00 price objective on shares of Workday in a research note on Wednesday, September 18th. Guggenheim reaffirmed a sell rating and set a $190.00 price target on shares of Workday in a research note on Tuesday, June 25th. Finally, BMO Capital Markets reaffirmed an outperform rating and set a $300.00 price target on shares of Workday in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $287.04.

Workday Stock Down 0.7 %

Shares of NASDAQ WDAY opened at $243.62 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The company has a market capitalization of $64.56 billion, a PE ratio of 43.90, a price-to-earnings-growth ratio of 4.91 and a beta of 1.35. The firm’s 50-day moving average is $238.82 and its two-hundred day moving average is $241.36. Workday has a 12-month low of $199.81 and a 12-month high of $311.28.

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

Insiders Place Their Bets

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the completion of the transaction, the director now directly owns 97,500 shares of the company’s stock, valued at approximately $25,381,200. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction dated 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 approximately $20,856,813.38. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the completion of the sale, the director now owns 97,500 shares in the company, valued at $25,381,200. The disclosure for this sale can be found here. Insiders sold a total of 467,402 shares of company stock valued at $111,071,544 in the last ninety days. Corporate insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Several hedge funds have recently bought and sold shares of WDAY. Crewe Advisors LLC acquired a new position in Workday during the 1st quarter valued at about $27,000. Sound Income Strategies LLC increased its stake in Workday by 74.2% during the 1st 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 during the period. SouthState Corp increased its stake in Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after buying an additional 129 shares during the period. Pacific Center for Financial Services increased its stake in Workday by 57.0% during the 1st quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock valued at $43,000 after buying an additional 57 shares during the period. Finally, Goodman Advisory Group LLC acquired a new position in Workday during the 2nd quarter valued at about $35,000. 89.81% of the stock is currently owned by institutional investors.

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.