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

Workday (NASDAQ:WDAY) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Other equities analysts have also issued research reports about the stock. Bank of America cut their price objective on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday. Evercore ISI reduced their target price on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. Wells Fargo & Company raised their target price on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. The Goldman Sachs Group lifted their price objective on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Citigroup cut their price objective on Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average target price of $288.14.

Workday Trading Down 6.2 %

WDAY stock traded down $16.79 during mid-day trading on Thursday, reaching $253.40. 13,907,388 shares of the stock traded hands, compared to its average volume of 1,929,515. The stock’s fifty day moving average is $248.74 and its 200-day moving average is $237.44. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The company has a market cap of $67.15 billion, a P/E ratio of 42.02, a P/E/G ratio of 5.36 and a beta of 1.35. Workday has a 52-week low of $199.81 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.21%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. As a group, sell-side analysts expect that Workday will post 2.4 earnings per share for the current year.

Insider Activity at Workday

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $255.45, for a total value of $1,915,875.00. Following the sale, the director now owns 90,000 shares in the company, valued at approximately $22,990,500. The trade was a 7.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total value of $14,112,630.00. Following the sale, the insider now owns 505,000 shares in the company, valued at approximately $125,032,950. This represents a 10.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 359,954 shares of company stock worth $88,742,132. 20.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Meeder Asset Management Inc. lifted its position 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 buying an additional 43 shares during the last quarter. Kingsview Wealth Management LLC grew its stake in Workday by 0.9% during the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after purchasing an additional 43 shares during the period. Diversified Trust Co grew its stake in Workday by 1.0% in the second quarter. Diversified Trust Co now owns 4,830 shares of the software maker’s stock valued at $1,080,000 after acquiring an additional 47 shares during the period. Opal Wealth Advisors LLC grew its stake in Workday by 5.2% in the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock valued at $231,000 after acquiring an additional 47 shares during the period. Finally, Mesirow Financial Investment Management Inc. grew its stake in Workday by 3.4% in the second quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock valued at $324,000 after acquiring an additional 48 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

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.