Workday (NASDAQ:WDAY) Downgraded to Hold Rating by StockNews.com

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

A number of other equities research analysts have also recently weighed in on the stock. Loop Capital cut their price objective on shares of Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a report on Wednesday. KeyCorp increased their price target on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Wells Fargo & Company increased their price target on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Stifel Nicolaus increased their price target on shares of Workday from $250.00 to $270.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Bank of America cut their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $288.14.

Workday Price Performance

Shares of WDAY opened at $253.40 on Thursday. The stock has a market cap of $67.15 billion, a PE ratio of 42.02, a price-to-earnings-growth ratio of 5.03 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. Workday has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The firm’s 50-day simple moving average is $248.74 and its two-hundred day simple moving average is $237.44.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.21%. The business’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. Analysts anticipate that Workday will post 2.4 earnings per share for the current fiscal year.

Insider Activity at Workday

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $255.45, for a total value of $1,915,875.00. Following the sale, the director now directly owns 90,000 shares in the company, valued at approximately $22,990,500. The trade was a 7.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. This represents a 39.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 359,954 shares of company stock worth $88,742,132. 20.00% of the stock is owned by corporate insiders.

Institutional Trading of Workday

Institutional investors and hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. increased its holdings in shares of Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of Workday by 0.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after buying an additional 43 shares during the last quarter. Diversified Trust Co increased its holdings in shares of Workday by 1.0% in the 2nd quarter. Diversified Trust Co now owns 4,830 shares of the software maker’s stock worth $1,080,000 after buying an additional 47 shares during the last quarter. Opal Wealth Advisors LLC increased its holdings in shares of Workday by 5.2% in the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after buying an additional 47 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. increased its holdings in shares of Workday by 3.4% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock worth $324,000 after buying an additional 48 shares during the last quarter. 89.81% of the stock is currently owned by 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.