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

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

Several other equities research analysts have also issued reports on the stock. Guggenheim raised shares of Workday from a “sell” rating to a “neutral” rating in a report on Monday, January 6th. The Goldman Sachs Group upped their price target on shares of Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Mizuho raised their price objective on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Workday in a report on Tuesday, December 3rd. Finally, Barclays cut their price target on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, Workday has an average rating of “Moderate Buy” and an average target price of $292.25.

Workday Stock Up 1.0 %

Shares of WDAY opened at $248.57 on Monday. The firm has a 50 day simple moving average of $262.75 and a two-hundred day simple moving average of $246.44. The company has a market cap of $66.12 billion, a P/E ratio of 41.22, a P/E/G ratio of 4.51 and a beta of 1.34. Workday has a one year low of $199.81 and a one year high of $311.28. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

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 the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the company earned $0.47 EPS. Workday’s revenue for the quarter was up 15.8% on a year-over-year basis. Research analysts forecast that Workday will post 2.64 EPS for the current fiscal year.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 70,003 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total value of $17,584,753.60. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $25,872,846.40. This represents a 40.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total value of $462,901.61. Following the sale, the director now owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This represents a 21.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock valued at $113,142,592 in the last 90 days. 20.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WDAY. Marcum Wealth LLC increased its position in shares of Workday by 4.4% during the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock worth $249,000 after acquiring an additional 41 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in Workday by 0.9% during the 3rd 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 in the last quarter. Opal Wealth Advisors LLC raised its stake in shares of Workday by 5.2% in the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after purchasing an additional 47 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. lifted its holdings in shares of 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 purchasing an additional 48 shares in the last quarter. 89.81% of the stock is 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.