Workday (NASDAQ:WDAY) Sets New 1-Year Low – Time to Sell?

Workday, Inc. (NASDAQ:WDAY) shares hit a new 52-week low during mid-day trading on Saturday . The stock traded as low as $202.22 and last traded at $205.79, with a volume of 6046961 shares. The stock had previously closed at $214.78.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. DA Davidson decreased their price target on shares of Workday from $260.00 to $250.00 and set a “hold” rating on the stock in a research note on Wednesday, November 26th. Citigroup cut their price objective on shares of Workday from $261.00 to $247.00 and set a “neutral” rating for the company in a report on Wednesday, November 26th. Barclays decreased their target price on shares of Workday from $288.00 to $280.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Oppenheimer restated an “outperform” rating on shares of Workday in a report on Wednesday, November 26th. Finally, TD Cowen cut their price target on Workday from $290.00 to $280.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $282.22.

Workday Stock Down 4.2%

The stock has a market capitalization of $54.12 billion, a price-to-earnings ratio of 86.47, a PEG ratio of 2.32 and a beta of 1.14. The business has a fifty day moving average of $222.50 and a 200 day moving average of $229.32. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.15. Workday had a return on equity of 10.50% and a net margin of 6.95%.The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter last year, the firm earned $1.89 earnings per share. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. As a group, equities analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Buying and Selling

In other Workday news, Director Michael M. Mcnamara sold 5,393 shares of the stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $235.16, for a total transaction of $1,268,217.88. Following the completion of the transaction, the director owned 24,078 shares of the company’s stock, valued at $5,662,182.48. This trade represents a 18.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $232.62, for a total transaction of $1,395,720.00. Following the completion of the transaction, the chief financial officer owned 168,468 shares in the company, valued at approximately $39,189,026.16. This represents a 3.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 340,966 shares of company stock valued at $75,095,274 over the last three months. Company insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

A number of institutional investors have recently modified their holdings of WDAY. Brighton Jones LLC boosted its holdings in Workday by 230.2% during the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after acquiring an additional 2,792 shares during the period. Baird Financial Group Inc. increased its stake in Workday by 3.3% during the first quarter. Baird Financial Group Inc. now owns 9,611 shares of the software maker’s stock worth $2,244,000 after purchasing an additional 303 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Workday by 77.2% during the first quarter. Advisors Asset Management Inc. now owns 939 shares of the software maker’s stock worth $219,000 after purchasing an additional 409 shares in the last quarter. Rise Advisors LLC boosted its stake in shares of Workday by 177.3% in the first quarter. Rise Advisors LLC now owns 208 shares of the software maker’s stock valued at $49,000 after purchasing an additional 133 shares during the period. Finally, Select Equity Group L.P. grew its holdings in shares of Workday by 3.1% in the first quarter. Select Equity Group L.P. now owns 510,119 shares of the software maker’s stock valued at $119,128,000 after purchasing an additional 15,476 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.