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

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

A number of other equities research analysts have also recently commented on the stock. JMP Securities restated a “market outperform” rating and set a $315.00 target price on shares of Workday in a research note on Thursday, September 19th. Scotiabank began coverage on shares of Workday in a research note on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price for the company. BMO Capital Markets restated an “outperform” rating and issued a $300.00 price objective on shares of Workday in a report on Wednesday, September 18th. KeyCorp boosted their target price on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Barclays cut their price objective on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday. 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $288.14.

Workday Trading Down 6.2 %

Shares of NASDAQ WDAY traded down $16.79 during midday trading on Thursday, reaching $253.40. The company had a trading volume of 13,907,388 shares, compared to its average volume of 1,929,515. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $67.15 billion, a PE ratio of 42.02, a price-to-earnings-growth ratio of 5.36 and a beta of 1.35. The firm’s fifty day moving average price is $248.74 and its 200-day moving average price is $237.44. Workday has a one year low of $199.81 and a one year high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. The company 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%. Workday’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period last year, the business earned $0.47 EPS. On average, equities research analysts anticipate that Workday will post 2.4 earnings per share for the current year.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the completion of the sale, the insider now directly owns 281,000 shares of the company’s stock, valued at approximately $68,004,810. This trade represents a 16.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction dated 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 directly owns 90,000 shares of the company’s stock, valued at $22,990,500. The trade was a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 359,954 shares of company stock worth $88,742,132 in the last quarter. Company insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Capital Performance Advisors LLP acquired a new position in Workday in the 3rd quarter valued at about $26,000. Meeder Asset Management Inc. lifted its stake in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares during the last quarter. True Wealth Design LLC lifted its stake in Workday by 4,766.7% during the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after purchasing an additional 143 shares during the last quarter. New Millennium Group LLC lifted its stake in Workday by 177.4% during the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after purchasing an additional 94 shares during the last quarter. Finally, SouthState Corp lifted its stake in Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after buying an additional 129 shares during the last quarter. 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.