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

Workday (NASDAQ:WDAY - Free Report) had its target price trimmed by Stifel Nicolaus from $310.00 to $275.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a hold rating on the software maker's stock.

WDAY has been the topic of several other research reports. JMP Securities restated a "market outperform" rating and set a $315.00 price target on shares of Workday in a research report on Friday. The Goldman Sachs Group raised their target price on Workday from $310.00 to $345.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Guggenheim restated a "neutral" rating on shares of Workday in a research note on Friday. BNP Paribas raised Workday to a "strong-buy" rating in a report on Friday, February 14th. Finally, Loop Capital lowered their price target on Workday from $285.00 to $250.00 and set a "hold" rating on the stock in a research report on Friday. Nine investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Workday currently has a consensus rating of "Moderate Buy" and an average price target of $293.54.

Workday Stock Performance

WDAY stock traded down $34.06 during trading on Friday, hitting $238.01. 9,908,921 shares of the company traded hands, compared to its average volume of 2,543,100. Workday has a 1 year low of $199.81 and a 1 year high of $294.00. The company has a market cap of $63.31 billion, a PE ratio of 39.47, a P/E/G ratio of 3.55 and a beta of 1.30. The stock's 50-day simple moving average is $242.57 and its 200 day simple moving average is $254.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.22. The business had revenue of $2.24 billion for the quarter, compared to analysts' expectations of $2.22 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business's revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the company earned $1.74 EPS. On average, equities analysts expect that Workday will post 2.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total value of $1,607,868.00. Following the transaction, the insider now directly owns 111,324 shares of the company's stock, valued at $29,556,522. This trade represents a 5.16% 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 66,455 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total value of $17,246,401.60. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $26,729,781.44. This represents a 39.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 321,724 shares of company stock valued at $77,976,126 in the last 90 days. 19.31% of the stock is owned by insiders.

Institutional Trading of Workday

Several large investors have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB boosted its position in shares of Workday by 65.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 273 shares of the software maker's stock valued at $70,000 after acquiring an additional 108 shares during the last quarter. Koshinski Asset Management Inc. purchased a new position in Workday during the fourth quarter worth about $201,000. Ballentine Partners LLC boosted its holdings in Workday by 8.1% in the 4th quarter. Ballentine Partners LLC now owns 2,046 shares of the software maker's stock valued at $528,000 after purchasing an additional 154 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Workday by 42.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,433 shares of the software maker's stock valued at $1,143,000 after purchasing an additional 1,317 shares during the last quarter. Finally, Atomi Financial Group Inc. purchased a new stake in shares of Workday in the 4th quarter valued at approximately $344,000. 89.81% of the stock is currently owned by hedge funds and other 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.