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

Workday (NASDAQ:WDAY - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

Several other research analysts also recently issued reports on WDAY. Royal Bank Of Canada reiterated an "outperform" rating and issued a $340.00 target price on shares of Workday in a research note on Friday, May 23rd. Morgan Stanley set a $255.00 target price on shares of Workday and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. Stifel Nicolaus dropped their target price on shares of Workday from $310.00 to $275.00 and set a "hold" rating on the stock in a research note on Friday, May 23rd. Oppenheimer dropped their target price on shares of Workday from $320.00 to $300.00 and set an "outperform" rating on the stock in a research note on Friday, May 23rd. Finally, Citigroup downgraded shares of Workday from a "neutral" rating to a "mixed" rating in a research note on Friday, May 16th. Nine analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $297.68.

Workday Trading Up 1.8%

NASDAQ:WDAY opened at $242.03 on Friday. Workday has a one year low of $199.81 and a one year high of $294.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07. The company's 50-day simple moving average is $249.27 and its 200 day simple moving average is $249.67. The firm has a market capitalization of $64.62 billion, a P/E ratio of 133.72, a PEG ratio of 3.65 and a beta of 1.21.

Workday (NASDAQ:WDAY - Get Free Report) last issued its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.22. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. The business's revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.74 earnings per share. As a group, analysts forecast that Workday will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $248.41, for a total value of $1,863,075.00. Following the transaction, the director directly owned 67,500 shares in the company, valued at approximately $16,767,675. This trade represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 81,275 shares of the stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the completion of the sale, the insider directly owned 102,997 shares of the company's stock, valued at approximately $22,111,395.96. This trade represents a 44.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 331,775 shares of company stock valued at $77,836,828 over the last three months. Insiders own 19.31% of the company's stock.

Institutional Trading of Workday

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cornerstone Planning Group LLC grew its stake in Workday by 76.1% during the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock valued at $28,000 after acquiring an additional 54 shares in the last quarter. Dagco Inc. purchased a new position in Workday during the first quarter valued at $31,000. TCTC Holdings LLC purchased a new position in Workday during the fourth quarter valued at $35,000. Farmers & Merchants Investments Inc. purchased a new position in Workday during the first quarter valued at $32,000. Finally, Rakuten Securities Inc. grew its stake in Workday by 78.6% during the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after acquiring an additional 66 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

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.

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