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

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

A number of other analysts also recently weighed in on WDAY. Piper Sandler restated a “neutral” rating and issued a $270.00 target price (down previously from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Morgan Stanley upped their price objective on shares of Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Bank of America decreased their target price on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Oppenheimer restated an “outperform” rating and set a $300.00 price target on shares of Workday in a research report on Tuesday, December 3rd. Finally, Barclays decreased their price objective on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and a consensus target price of $292.25.

Workday Stock Performance

Shares of WDAY opened at $246.03 on Monday. Workday has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a market cap of $65.44 billion, a PE ratio of 40.80, a price-to-earnings-growth 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. The stock has a 50-day moving average price of $262.75 and a 200-day moving average price of $246.44.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm posted $0.47 EPS. The firm’s revenue was up 15.8% compared to the same quarter last year. As a group, equities analysts forecast that Workday will post 2.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 70,003 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $25,872,846.40. This represents a 40.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the sale, the chief executive officer now directly owns 13,972 shares of the company’s stock, valued at $3,546,931.92. The trade was a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 382,347 shares of company stock worth $99,225,903 in the last three months. Insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC grew its holdings in Workday by 7.2% during the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock valued at $7,934,000 after purchasing an additional 1,978 shares during the period. Grafton Street Partners Fund LP bought a new stake in Workday in the third quarter worth $4,424,000. ICICI Prudential Asset Management Co Ltd raised its position in shares of Workday by 32.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after buying an additional 7,802 shares in the last quarter. Nordea Investment Management AB raised its position in Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after purchasing an additional 119,769 shares during the period. Finally, Legal & General Group Plc boosted its stake in Workday by 7.4% during the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after buying an additional 118,180 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

About Workday

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.