Workday (NASDAQ:WDAY) Raised to “Moderate Sell” at CLSA

Workday (NASDAQ:WDAY) was upgraded by equities researchers at CLSA to a “moderate sell” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other analysts also recently weighed in on WDAY. KeyCorp raised their price target on shares of Workday from $155.00 to $158.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Morgan Stanley cut Workday from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $185.00 to $145.00 in a research note on Tuesday. UBS Group upped their price target on Workday from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, May 22nd. BTIG Research restated a “buy” rating and set a $175.00 price objective on shares of Workday in a research note on Monday, May 18th. Finally, Barclays upgraded shares of Workday from an “overweight” rating to a “buy” rating in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and a consensus target price of $179.80.

Workday Price Performance

Shares of WDAY stock opened at $141.17 on Monday. Workday has a twelve month low of $110.36 and a twelve month high of $249.85. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $34.87 billion, a PE ratio of 44.12, a price-to-earnings-growth ratio of 1.57 and a beta of 1.11. The firm has a fifty day simple moving average of $132.42 and a 200-day simple moving average of $143.01.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the company posted $2.23 EPS. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities research analysts anticipate that Workday will post 5.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Workday news, insider Gerrit S. Kazmaier sold 2,728 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $143.62, for a total value of $391,795.36. Following the sale, the insider owned 266,388 shares in the company, valued at approximately $38,258,644.56. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder David A. Duffield sold 107,500 shares of Workday stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $136.74, for a total value of $14,699,550.00. Following the sale, the insider directly owned 105,049 shares in the company, valued at approximately $14,364,400.26. This trade represents a 50.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 875,020 shares of company stock worth $113,938,503. 18.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On Workday

A number of hedge funds and other institutional investors have recently modified their holdings of WDAY. Brighton Jones LLC raised its position in shares of Workday by 230.2% during the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after buying an additional 2,792 shares in the last quarter. Empowered Funds LLC lifted its position in Workday by 12.1% in the first quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock worth $2,602,000 after purchasing an additional 1,206 shares during the period. Geneos Wealth Management Inc. boosted its stake in Workday by 211.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock valued at $44,000 after purchasing an additional 127 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Workday during the 2nd quarter valued at $281,000. Finally, NewEdge Advisors LLC grew its holdings in Workday by 32.0% during the second quarter. NewEdge Advisors LLC now owns 6,597 shares of the software maker’s stock worth $1,583,000 after acquiring an additional 1,600 shares during the period. 89.81% of the stock is currently owned by institutional investors.

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.