StockNews.com Downgrades Workday (NASDAQ:WDAY) to Hold

StockNews.com cut shares of Workday (NASDAQ:WDAY) from a buy rating to a hold rating in a research note released on Thursday morning.

Several other research firms have also issued reports on WDAY. Wells Fargo & Company increased their price objective on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Morgan Stanley increased their target price on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. JMP Securities restated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research report on Thursday, September 19th. BMO Capital Markets reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Workday in a report on Wednesday, September 18th. Finally, Barclays reduced their target price on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, Workday has an average rating of “Moderate Buy” and an average target price of $288.14.

Workday Price Performance

Shares of WDAY stock opened at $249.99 on Thursday. The company has a market capitalization of $66.25 billion, a P/E ratio of 41.46, a P/E/G ratio of 4.96 and a beta of 1.35. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday has a 12 month low of $199.81 and a 12 month high of $311.28. The stock has a 50 day moving average of $248.77 and a two-hundred day moving average of $237.30.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 19.86% and a return on equity of 6.21%. The business’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 EPS. As a group, equities analysts expect that Workday will post 2.4 EPS for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Workday

Several large investors have recently made changes to their positions in WDAY. Capital Performance Advisors LLP acquired a new position in Workday in the 3rd quarter worth $26,000. SouthState Corp grew its holdings in shares of Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after buying an additional 129 shares in the last quarter. Crewe Advisors LLC raised its position in Workday by 56.6% in the 2nd quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock valued at $35,000 after buying an additional 56 shares during the last quarter. Goodman Advisory Group LLC acquired a new position in Workday during the 2nd quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. grew its stake in shares of 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 acquiring an additional 43 shares in the last quarter. Institutional investors 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.