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

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

A number of other analysts also recently issued reports on WDAY. Wells Fargo & Company lifted their target price on Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. The Goldman Sachs Group upped their price objective on Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Royal Bank of Canada raised their target price on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Scotiabank assumed coverage on shares of Workday in a research report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price target on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research report on Wednesday, September 18th. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $292.25.

Workday Trading Up 0.0 %

WDAY opened at $246.03 on Monday. The stock has a market capitalization of $65.44 billion, a P/E ratio of 40.80, a P/E/G ratio of 5.04 and a beta of 1.34. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday has a 12 month low of $199.81 and a 12 month high of $311.28. The firm’s fifty day simple moving average is $262.75 and its 200 day simple moving average is $246.44.

Workday (NASDAQ:WDAY) last announced its earnings results 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. 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 6.13% and a net margin of 19.86%. Workday’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 EPS. As a group, research analysts anticipate that Workday will post 2.58 EPS for the current fiscal year.

Insider Activity at Workday

In other news, insider Sayan Chakraborty sold 5,498 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the transaction, the insider now owns 121,100 shares in the company, valued at $30,369,458. The trade was a 4.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of the 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 directly owns 6,845 shares of the company’s stock, valued at $1,732,401.05. The trade was a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 382,347 shares of company stock valued at $99,225,903. 20.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its holdings 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 buying an additional 1,016,394 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Workday by 1,094.2% in 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 grew its holdings in Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after purchasing an additional 480,459 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in Workday in the third quarter worth $78,003,000. Finally, D1 Capital Partners L.P. increased its stake in shares of Workday by 152.1% in the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock worth $115,804,000 after purchasing an additional 312,500 shares in 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.