Workday (NASDAQ:WDAY) Downgraded to Hold Rating by Wall Street Zen

Workday (NASDAQ:WDAY) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Several other analysts also recently commented on WDAY. The Goldman Sachs Group reduced their target price on Workday from $238.00 to $206.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Jefferies Financial Group lowered Workday from a “buy” rating to a “hold” rating and lowered their target price for the stock from $325.00 to $150.00 in a research report on Monday, February 23rd. Royal Bank Of Canada lowered their price objective on shares of Workday from $220.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Barclays reduced their price objective on shares of Workday from $230.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price target on shares of Workday in a research report on Wednesday, February 25th. Twenty equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus target price of $203.00.

Workday Stock Performance

Shares of WDAY stock opened at $133.09 on Friday. The firm has a 50 day moving average of $164.66 and a 200-day moving average of $206.10. The company has a market cap of $35.00 billion, a price-to-earnings ratio of 51.59, a price-to-earnings-growth ratio of 1.30 and a beta of 1.16. The company has a quick ratio of 1.83, a current ratio of 1.32 and a debt-to-equity ratio of 0.38. Workday has a 52 week low of $117.76 and a 52 week high of $276.00.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.15. Workday had a net margin of 7.26% and a return on equity of 13.37%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the company earned $1.92 EPS. Workday’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities analysts forecast that Workday will post 2.63 earnings per share for the current year.

Insider Buying and Selling

In other Workday news, CAO Mark S. Garfield sold 953 shares of Workday stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $209.56, for a total transaction of $199,710.68. Following the transaction, the chief accounting officer owned 35,336 shares of the company’s stock, valued at $7,405,012.16. This trade represents a 2.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard Harry Sauer sold 1,130 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $210.00, for a total value of $237,300.00. Following the completion of the transaction, the insider owned 85,398 shares in the company, valued at $17,933,580. The trade was a 1.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 610,796 shares of company stock valued at $107,013,566 over the last 90 days. 19.31% of the stock is currently owned by company insiders.

Institutional Trading of Workday

A number of institutional investors and hedge funds have recently modified their holdings of the business. Perennial Investment Advisors LLC boosted its position in Workday by 2.8% in the second quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker’s stock worth $418,000 after purchasing an additional 48 shares during the last quarter. Finivi Inc. increased its position in shares of Workday by 3.3% during the 3rd quarter. Finivi Inc. now owns 1,516 shares of the software maker’s stock valued at $365,000 after purchasing an additional 48 shares during the last quarter. Bay Harbor Wealth Management LLC raised its stake in shares of Workday by 12.0% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker’s stock worth $110,000 after purchasing an additional 49 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Workday by 1.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,128 shares of the software maker’s stock worth $994,000 after buying an additional 49 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its holdings in shares of Workday by 1.1% in the 2nd quarter. Kingsview Wealth Management LLC now owns 4,544 shares of the software maker’s stock worth $1,091,000 after buying an additional 50 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Company Profile

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.