BidaskClub Lowers Workday (WDAY) to Hold

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

A number of other research analysts have also commented on the stock. ValuEngine raised shares of Workday from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 2nd. Barclays reaffirmed a “hold” rating and set a $150.00 price objective on shares of Workday in a research report on Thursday, September 6th. Deutsche Bank upped their price objective on shares of Workday from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Wednesday, September 5th. Credit Suisse Group upped their price objective on shares of Workday from $120.00 to $150.00 and gave the company a “neutral” rating in a research report on Wednesday, September 5th. Finally, Oppenheimer upped their price objective on shares of Workday from $136.00 to $174.00 and gave the company an “outperform” rating in a research report on Wednesday, September 5th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $146.03.

Workday stock opened at $128.31 on Thursday. The firm has a market cap of $31.68 billion, a price-to-earnings ratio of -101.66 and a beta of 2.01. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.89 and a quick ratio of 1.89. Workday has a fifty-two week low of $95.35 and a fifty-two week high of $157.12.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, September 4th. The software maker reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.05. The firm had revenue of $671.70 million during the quarter, compared to analyst estimates of $663.38 million. Workday had a negative net margin of 13.81% and a negative return on equity of 13.36%. The business’s revenue was up 27.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. Equities analysts forecast that Workday will post -1.11 earnings per share for the current fiscal year.

In other Workday news, insider Gomez Luciano Fernandez sold 3,483 shares of the company’s stock in a transaction dated Tuesday, July 17th. The shares were sold at an average price of $132.97, for a total transaction of $463,134.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP James P. Shaughnessy sold 4,800 shares of the company’s stock in a transaction dated Wednesday, October 10th. The stock was sold at an average price of $126.87, for a total transaction of $608,976.00. Following the sale, the senior vice president now directly owns 70,225 shares in the company, valued at $8,909,445.75. The disclosure for this sale can be found here. In the last three months, insiders sold 505,845 shares of company stock worth $68,655,239. 33.59% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the business. First Trust Advisors LP grew its stake in Workday by 43.3% during the second quarter. First Trust Advisors LP now owns 989,908 shares of the software maker’s stock worth $119,898,000 after buying an additional 299,251 shares during the last quarter. Northern Trust Corp grew its stake in Workday by 5.7% during the second quarter. Northern Trust Corp now owns 951,716 shares of the software maker’s stock worth $115,272,000 after buying an additional 51,341 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Workday by 5.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 676,374 shares of the software maker’s stock worth $81,922,000 after buying an additional 32,119 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Workday by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 601,331 shares of the software maker’s stock worth $72,833,000 after buying an additional 3,678 shares during the last quarter. Finally, Swiss National Bank grew its stake in Workday by 3.1% during the second quarter. Swiss National Bank now owns 453,200 shares of the software maker’s stock worth $54,892,000 after buying an additional 13,700 shares during the last quarter. 67.50% of the stock is currently owned by hedge funds and other institutional investors.

Workday Company Profile

Workday, Inc provides enterprise cloud applications for finance and human resources worldwide. It provides applications for customers to manage critical business functions to optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, employee expense and revenue management, projects, procurement, inventory, and grants management.

Recommended Story: Diversification in Your Portfolio

Analyst Recommendations for Workday (NASDAQ:WDAY)

Receive News & Ratings for Workday Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Workday and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply