Workday (NASDAQ:WDAY) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Workday (NASDAQ:WDAY) from a buy rating to a hold rating in a report issued on Thursday morning.

A number of other equities analysts have also recently commented on the company. The Goldman Sachs Group lifted their price target on Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Evercore ISI reduced their target price on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft increased their price target on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. DA Davidson lifted their price objective on shares of Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Finally, KeyCorp increased their price objective on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $288.14.

Workday Stock Down 1.3 %

NASDAQ:WDAY opened at $249.99 on Thursday. Workday has a twelve month low of $199.81 and a twelve month high of $311.28. The firm has a market capitalization of $66.25 billion, a price-to-earnings ratio of 41.46, a price-to-earnings-growth ratio of 4.96 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. The stock’s 50 day moving average price is $248.77 and its two-hundred day moving average price is $237.30.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share 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 the consensus estimate of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.21%. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 earnings per share. Equities research analysts expect that Workday will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total value of $738,934.52. Following the completion of the transaction, the insider now owns 85,795 shares in the company, valued at $20,228,745.10. This trade represents a 3.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,828 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 8,674 shares in the company, valued at $2,097,806.90. The trade was a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 359,954 shares of company stock worth $88,742,132 in the last ninety days. 20.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Workday

A number of hedge funds have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Workday by 27.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,417 shares of the software maker’s stock worth $659,000 after buying an additional 525 shares in the last quarter. Comerica Bank boosted its stake in Workday by 13.2% during the 1st quarter. Comerica Bank now owns 42,664 shares of the software maker’s stock valued at $11,637,000 after purchasing an additional 4,977 shares during the last quarter. Swedbank AB purchased a new stake in shares of Workday in the first quarter worth approximately $21,906,000. Cetera Investment Advisers lifted its holdings in shares of Workday by 83.5% in the first quarter. Cetera Investment Advisers now owns 49,132 shares of the software maker’s stock valued at $13,401,000 after purchasing an additional 22,351 shares in the last quarter. Finally, Cetera Advisors LLC boosted its position in shares of Workday by 378.3% during the first quarter. Cetera Advisors LLC now owns 16,582 shares of the software maker’s stock valued at $4,523,000 after buying an additional 13,115 shares during the last quarter. Institutional investors and hedge funds 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.