Workday (NASDAQ:WDAY) Stock Rating Lowered by StockNews.com

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

A number of other analysts also recently issued reports on WDAY. Piper Sandler reaffirmed a “neutral” rating and set a $270.00 price target (down previously from $285.00) on shares of Workday in a report on Wednesday, November 27th. Barclays lowered their price objective on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Royal Bank of Canada lifted their target price on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group increased their price target on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Workday in a report on Tuesday, December 3rd. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.25.

Workday Stock Down 1.5 %

NASDAQ WDAY traded down $3.71 during mid-day trading on Monday, reaching $246.00. The stock had a trading volume of 2,253,024 shares, compared to its average volume of 2,017,675. The stock 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. Workday has a 1 year low of $199.81 and a 1 year high of $311.28. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The company has a fifty day moving average price of $262.65 and a 200 day moving average price of $246.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business earned $0.47 earnings per share. The company’s revenue was up 15.8% on a year-over-year basis. On average, research analysts expect that Workday will post 2.58 earnings per share for the current year.

Insider Activity at Workday

In related news, insider Sayan Chakraborty sold 5,498 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the sale, the insider now directly owns 121,100 shares in the company, valued at approximately $30,369,458. The trade was a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 70,003 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $251.20, for a total value of $17,584,753.60. Following the transaction, the insider now 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 382,347 shares of company stock valued at $99,225,903. 20.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in shares of Workday in the 3rd quarter worth about $26,000. Meeder Asset Management Inc. raised its position in Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares during the period. True Wealth Design LLC boosted its position in shares of Workday by 4,766.7% during the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after buying an additional 143 shares during the period. New Millennium Group LLC boosted its position in shares of Workday by 177.4% during the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock valued at $36,000 after buying an additional 94 shares during the period. Finally, Goodman Advisory Group LLC bought a new position in shares of Workday during the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Company Profile

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.