Workday (NASDAQ:WDAY) Lowered to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Workday (NASDAQ:WDAY) from a buy rating to a hold rating in a report issued on Wednesday morning.

WDAY has been the topic of a number of other research reports. Canaccord Genuity Group restated a “buy” rating and issued a $300.00 price target on shares of Workday in a research report on Friday, September 13th. Bank of America dropped their target price on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Oppenheimer reiterated an “outperform” rating and set a $300.00 price target on shares of Workday in a report on Tuesday. JMP Securities reissued a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a research note on Thursday, September 19th. Finally, KeyCorp raised their target price on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $288.14.

Workday Stock Performance

NASDAQ WDAY opened at $266.42 on Wednesday. The company has a market capitalization of $70.60 billion, a price-to-earnings ratio of 44.18, a PEG ratio of 4.98 and a beta of 1.34. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday has a twelve month low of $199.81 and a twelve month high of $311.28. The stock has a fifty day simple moving average of $249.96 and a 200 day simple moving average of $237.65.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.21% and a net margin of 19.86%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share. Sell-side analysts expect that Workday will post 2.57 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $245.36, for a total transaction of $13,740,160.00. Following the completion of the sale, the insider now directly owns 449,000 shares of the company’s stock, valued at $110,166,640. This trade represents a 11.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sayan Chakraborty sold 5,498 shares of Workday stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the sale, the insider now directly owns 121,100 shares in the company, valued at approximately $30,369,458. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 361,463 shares of company stock valued at $88,422,088 in the last three months. 20.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Workday

Several large investors have recently modified their holdings of the business. Capital Performance Advisors LLP bought a new position in Workday in the 3rd quarter worth approximately $26,000. SouthState Corp boosted its holdings in shares of Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after acquiring an additional 129 shares during the period. Crewe Advisors LLC grew its position in shares of Workday by 56.6% in the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock valued at $35,000 after purchasing an additional 56 shares in the last quarter. Goodman Advisory Group LLC bought a new stake in shares of Workday during the 2nd quarter valued at $35,000. Finally, Meeder Asset Management Inc. lifted its holdings in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

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.