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

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

A number of other research analysts have also weighed in on the company. Wells Fargo & Company raised their target price on Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, December 9th. 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 report on Wednesday, November 27th. The Goldman Sachs Group increased their target price on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Royal Bank of Canada boosted their price target on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and upped their price objective for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $292.25.

Workday Trading Down 1.5 %

Shares of WDAY traded down $3.71 during trading hours on Monday, hitting $246.00. 2,253,024 shares of the stock were exchanged, compared to its average volume of 2,017,675. Workday has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The business has a 50-day moving average of $262.65 and a 200-day moving average of $246.28. The firm has a market capitalization of $65.44 billion, a P/E ratio of 40.80, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34. 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 posted 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. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the company posted $0.47 EPS. On average, research analysts expect that Workday will post 2.58 EPS for the current year.

Insider Activity at Workday

In related news, Director Wayne A.I. Frederick sold 1,829 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the transaction, the director now owns 6,845 shares in the company, valued at $1,732,401.05. This represents a 21.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the transaction, the insider now directly owns 284,000 shares in the company, valued at approximately $78,188,040. The trade was a 16.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 382,347 shares of company stock worth $99,225,903 in the last three months. 20.00% of the stock is owned by insiders.

Institutional Trading of Workday

Several large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in Workday by 79.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after acquiring an additional 1,016,394 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Workday by 1,094.2% during the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after purchasing an additional 562,400 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after purchasing an additional 480,459 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of Workday in the 3rd quarter worth approximately $78,003,000. Finally, D1 Capital Partners L.P. increased its position in Workday by 152.1% during the 2nd quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock valued at $115,804,000 after buying an additional 312,500 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.