Workday (NASDAQ:WDAY) Price Target Cut to $255.00 by Analysts at Stifel Nicolaus

Key Points

• Analysts at Stifel Nicolaus have reduced Workday's price target from $275.00 to $255.00, maintaining a "hold" rating amidst varying targets from other brokerages.
• Workday's quarterly earnings exceeded estimates, reporting $2.21 earnings per share compared to the consensus forecast of $2.09, alongside a revenue of $2.35 billion.
• Institutional investors currently own 89.81% of Workday's stock, with significant changes in positions noted during the second quarter.

Workday (NASDAQ:WDAY - Get Free Report) had its price objective cut by stock analysts at Stifel Nicolaus from $275.00 to $255.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "hold" rating on the software maker's stock. Stifel Nicolaus' price target would suggest a potential upside of 12.05% from the company's current price.

A number of other brokerages have also issued reports on WDAY. Needham & Company LLC reiterated a "buy" rating and set a $300.00 target price on shares of Workday in a research report on Friday. UBS Group lowered their price target on Workday from $285.00 to $250.00 and set a "neutral" rating for the company in a report on Tuesday, August 12th. Cantor Fitzgerald set a $265.00 price target on Workday in a report on Thursday, August 14th. Oppenheimer cut their price target on shares of Workday from $300.00 to $270.00 and set an "outperform" rating on the stock in a research note on Friday. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $315.00 price target on shares of Workday in a research note on Friday, May 23rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Workday currently has an average rating of "Moderate Buy" and an average target price of $285.96.

Workday Price Performance

Shares of Workday stock opened at $227.58 on Friday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $60.76 billion, a price-to-earnings ratio of 125.73, a P/E/G ratio of 3.44 and a beta of 1.24. Workday has a 1-year low of $205.33 and a 1-year high of $294.00. The firm's 50-day moving average price is $232.85 and its two-hundred day moving average price is $242.98.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Thursday, August 21st. The software maker reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.12. Workday had a net margin of 5.60% and a return on equity of 8.00%. The firm had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.34 billion. During the same period in the prior year, the firm earned $1.75 earnings per share. The company's quarterly revenue was up 12.6% compared to the same quarter last year. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, equities analysts predict that Workday will post 2.63 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Mark S. Garfield sold 451 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $234.86, for a total value of $105,921.86. Following the completion of the transaction, the chief accounting officer owned 42,977 shares of the company's stock, valued at approximately $10,093,578.22. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $248.41, for a total value of $1,863,075.00. Following the completion of the transaction, the director directly owned 67,500 shares of the company's stock, valued at $16,767,675. This represents a 10.00% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 329,005 shares of company stock worth $79,203,523. Corporate insiders own 19.31% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. bought a new stake in Workday in the second quarter valued at approximately $318,000. Newbridge Financial Services Group Inc. bought a new stake in Workday in the second quarter valued at approximately $98,000. Advisory Services Network LLC boosted its holdings in Workday by 271.7% in the second quarter. Advisory Services Network LLC now owns 3,869 shares of the software maker's stock valued at $887,000 after acquiring an additional 2,828 shares during the last quarter. Anchor Investment Management LLC boosted its holdings in Workday by 8.5% in the second quarter. Anchor Investment Management LLC now owns 7,872 shares of the software maker's stock valued at $1,889,000 after acquiring an additional 617 shares during the last quarter. Finally, State of Wyoming bought a new stake in Workday in the second quarter valued at approximately $864,000. Institutional investors and hedge funds own 89.81% of the company's stock.

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.

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