Workday (NASDAQ:WDAY) Cut to Hold at StockNews.com

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

A number of other analysts also recently issued reports on the stock. Barclays decreased their price objective on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a report on Wednesday. Morgan Stanley upped their price objective on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday. Canaccord Genuity Group reissued a “buy” rating and issued a $300.00 target price on shares of Workday in a research report on Friday, September 13th. Loop Capital dropped their price target on Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $288.14.

Workday Price Performance

Workday stock opened at $249.99 on Thursday. Workday has a 52 week low of $199.81 and a 52 week high of $311.28. The company’s 50 day moving average price is $248.77 and its two-hundred day moving average price is $237.46. The stock has a market cap of $66.25 billion, a P/E ratio of 41.46, a P/E/G ratio of 5.03 and a beta of 1.35. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

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

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. This trade represents a 39.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wayne A.I. Frederick sold 1,828 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the sale, the director now directly owns 8,674 shares of the company’s stock, valued at $2,097,806.90. This represents a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 359,954 shares of company stock worth $88,742,132 over the last 90 days. Corporate insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

Hedge funds and other institutional investors have recently modified their holdings of the stock. ORG Partners LLC lifted its position in Workday by 3,717.9% in the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after purchasing an additional 3,123 shares during the last quarter. Grafton Street Partners Fund LP purchased a new stake in Workday during the 3rd quarter valued at $4,424,000. ICICI Prudential Asset Management Co Ltd grew its holdings in Workday by 32.4% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after acquiring an additional 7,802 shares during the last quarter. Legal & General Group Plc increased its position in shares of Workday by 7.4% in the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after acquiring an additional 118,180 shares during the period. Finally, Atria Investments Inc raised its stake in shares of Workday by 19.3% during the third quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock valued at $10,833,000 after acquiring an additional 7,175 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

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.