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

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

WDAY has been the subject of a number of other reports. Piper Sandler reaffirmed a “neutral” rating and issued a $270.00 price objective (down from $285.00) on shares of Workday in a research report on Wednesday, November 27th. DA Davidson raised their price objective on Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Stifel Nicolaus increased their target price on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Bank of America lowered their target price on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $300.00 target price on shares of Workday in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $288.14.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $257.06 on Wednesday. Workday has a 52 week low of $199.81 and a 52 week high of $311.28. The stock has a market capitalization of $68.12 billion, a PE ratio of 42.63, a price-to-earnings-growth ratio of 4.66 and a beta of 1.34. The stock has a 50 day moving average price of $249.10 and a 200 day moving average price of $237.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.21% and a net margin of 19.86%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the firm posted $0.47 earnings per share. The business’s revenue was up 15.8% on a year-over-year basis. Analysts predict that Workday will post 2.57 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, insider Sayan Chakraborty sold 5,498 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $250.78, for a total value of $1,378,788.44. Following the sale, the insider now owns 121,100 shares in the company, valued at approximately $30,369,458. This trade represents a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the transaction, the director now owns 90,000 shares in the company, valued at approximately $22,990,500. This trade represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 298,960 shares of company stock valued at $72,753,210 over the last 90 days. 20.00% of the stock is owned by insiders.

Institutional Trading of Workday

A number of institutional investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new stake in shares of Workday during the third quarter worth $26,000. SouthState Corp lifted its holdings 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 acquiring an additional 129 shares during the period. Crewe Advisors LLC lifted its holdings in Workday by 56.6% in the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock valued at $35,000 after acquiring an additional 56 shares during the period. Goodman Advisory Group LLC purchased a new stake in shares of Workday during the second quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. grew its holdings in Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after buying an additional 43 shares in the last quarter. 89.81% of the stock is currently 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.