Workday (NASDAQ:WDAY) was downgraded by research analysts at BidaskClub from a "hold" rating to a "sell" rating in a research note issued on Wednesday, BidAskClub reports.
Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada upped their target price on shares of Workday from $220.00 to $280.00 and gave the company an "outperform" rating in a report on Friday, August 28th. Needham & Company LLC upped their price target on shares of Workday from $200.00 to $260.00 and gave the company a "buy" rating in a research note on Friday, August 28th. Credit Suisse Group upped their price target on shares of Workday from $175.00 to $215.00 and gave the company a "neutral" rating in a research note on Friday, August 28th. Wells Fargo & Company upped their price target on shares of Workday from $195.00 to $240.00 and gave the company an "equal weight" rating in a research note on Friday, August 28th. Finally, Bank of America upped their price target on shares of Workday from $230.00 to $275.00 and gave the company a "buy" rating in a research note on Friday, August 28th. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of "Hold" and a consensus target price of $231.90.
Shares of WDAY stock opened at $207.63 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.45 and a current ratio of 1.45. The firm's 50-day moving average is $198.84 and its 200-day moving average is $171.62. The stock has a market cap of $49.21 billion, a price-to-earnings ratio of -111.03 and a beta of 1.56. Workday has a 52-week low of $107.75 and a 52-week high of $248.75.
Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, August 27th. The software maker reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.66 by $0.18. The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. Workday had a negative net margin of 10.77% and a negative return on equity of 10.56%. Workday's quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 EPS. Sell-side analysts predict that Workday will post -0.72 EPS for the current fiscal year.
In related news, CFO Robynne Sisco sold 10,484 shares of the stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $182.08, for a total transaction of $1,908,926.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Aneel Bhusri sold 7,584 shares of the stock in a transaction that occurred on Wednesday, July 15th. The stock was sold at an average price of $181.36, for a total transaction of $1,375,434.24. The disclosure for this sale can be found here. Insiders have sold a total of 363,613 shares of company stock worth $78,926,696 in the last quarter. 26.51% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. CSat Investment Advisory L.P. lifted its stake in Workday by 11.1% in the 1st quarter. CSat Investment Advisory L.P. now owns 771 shares of the software maker's stock valued at $100,000 after purchasing an additional 77 shares during the last quarter. Flagship Harbor Advisors LLC raised its stake in shares of Workday by 86.3% during the second quarter. Flagship Harbor Advisors LLC now owns 190 shares of the software maker's stock valued at $35,000 after acquiring an additional 88 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Workday by 1.6% during the second quarter. Prudential Financial Inc. now owns 5,756 shares of the software maker's stock valued at $1,078,000 after acquiring an additional 90 shares during the last quarter. Utah Retirement Systems raised its stake in shares of Workday by 0.3% during the first quarter. Utah Retirement Systems now owns 31,166 shares of the software maker's stock valued at $4,059,000 after acquiring an additional 100 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in shares of Workday by 54.5% during the second quarter. Global Retirement Partners LLC now owns 292 shares of the software maker's stock valued at $55,000 after acquiring an additional 103 shares during the last quarter. 67.98% of the stock is owned by institutional investors and hedge funds.
Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and 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, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.
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