Workday (NASDAQ:WDAY) Price Target Lowered to $275.00 at Canaccord Genuity Group

Workday (NASDAQ:WDAY) had its target price lowered by Canaccord Genuity Group from $330.00 to $275.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

Several other brokerages also recently weighed in on WDAY. Cantor Fitzgerald set a $265.00 price target on Workday in a report on Thursday, August 14th. JPMorgan Chase & Co. cut their price target on Workday from $310.00 to $295.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. Royal Bank Of Canada restated an “outperform” rating and set a $340.00 price target on shares of Workday in a report on Friday, May 23rd. KeyCorp cut their price target on Workday from $325.00 to $285.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Citigroup downgraded Workday from a “neutral” rating to a “mixed” rating in a report on Friday, May 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $283.76.

Workday Price Performance

WDAY opened at $221.27 on Friday. The stock’s 50-day moving average price is $232.39 and its 200 day moving average price is $242.71. Workday has a 12-month low of $205.33 and a 12-month high of $294.00. 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 firm has a market cap of $59.08 billion, a price-to-earnings ratio of 102.44, a PEG ratio of 3.44 and a beta of 1.24.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.12. Workday had a return on equity of 9.83% and a net margin of 6.51%.The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the prior year, the company earned $1.75 EPS. Workday’s revenue was up 12.6% on a year-over-year basis. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, sell-side analysts expect that Workday will post 2.63 earnings per share for the current year.

Insider Buying and Selling

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $239.43, for a total value of $1,496,437.50. Following the transaction, the chief executive officer directly owned 1,472 shares in the company, valued at approximately $352,440.96. This trade represents a 80.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mark S. Garfield sold 451 shares of Workday stock in a transaction that occurred on 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 in the company, valued at $10,093,578.22. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 329,005 shares of company stock worth $79,203,523. 19.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Workday by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 21,114,184 shares of the software maker’s stock valued at $5,067,404,000 after buying an additional 515,529 shares during the period. State Street Corp lifted its holdings in shares of Workday by 3.3% in the 2nd quarter. State Street Corp now owns 9,600,516 shares of the software maker’s stock valued at $2,304,124,000 after buying an additional 303,713 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Workday by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 4,952,938 shares of the software maker’s stock valued at $1,183,112,000 after buying an additional 140,042 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Workday by 47.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker’s stock valued at $879,147,000 after buying an additional 1,211,659 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Workday by 0.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,736,609 shares of the software maker’s stock valued at $872,610,000 after buying an additional 14,354 shares during the period. 89.81% of the stock is currently owned by hedge funds and other 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.