Workday, Inc. (WDAY) Downgraded by BidaskClub

BidaskClub downgraded shares of Workday, Inc. (NYSE:WDAY) from a strong-buy rating to a buy rating in a report issued on Friday morning.

Other research analysts also recently issued reports about the company. UBS AG reiterated a buy rating and set a $115.00 target price (up from $103.00) on shares of Workday in a research report on Friday, June 2nd. Mitsubishi UFJ Financial Group set a $106.00 target price on Workday and gave the company a buy rating in a research report on Saturday, June 3rd. Cowen and Company reiterated a market perform rating and set a $100.00 target price (up from $93.00) on shares of Workday in a research report on Thursday, August 31st. ValuEngine upgraded Workday from a sell rating to a hold rating in a research report on Friday, June 2nd. Finally, Wedbush reiterated a neutral rating and set a $104.00 target price on shares of Workday in a research report on Thursday, August 31st. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $98.79.

Workday (WDAY) opened at 103.89 on Friday. Workday has a 1-year low of $65.79 and a 1-year high of $111.45. The stock’s market capitalization is $21.61 billion. The firm’s 50 day moving average is $104.37 and its 200 day moving average is $95.86.

Workday (NYSE:WDAY) last posted its earnings results on Wednesday, August 30th. The software maker reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. The firm had revenue of $525.30 million during the quarter, compared to the consensus estimate of $507.44 million. Workday had a negative return on equity of 24.07% and a negative net margin of 19.78%. The company’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.04) EPS. On average, equities research analysts anticipate that Workday will post $0.83 earnings per share for the current year.

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In related news, CFO Robynne Sisco sold 1,470 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $101.70, for a total transaction of $149,499.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP James P. Shaughnessy sold 8,760 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $103.62, for a total value of $907,711.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,314,749 shares of company stock worth $135,370,554. 37.71% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of WDAY. Renaissance Technologies LLC acquired a new stake in Workday in the second quarter worth about $117,209,000. Janus Henderson Group PLC boosted its holdings in Workday by 6,210.6% in the second quarter. Janus Henderson Group PLC now owns 1,038,153 shares of the software maker’s stock worth $100,701,000 after acquiring an additional 1,021,702 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Workday by 8.5% in the second quarter. Vanguard Group Inc. now owns 10,782,861 shares of the software maker’s stock worth $1,045,937,000 after acquiring an additional 846,809 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Workday by 2,792.9% in the first quarter. Nomura Asset Management Co. Ltd. now owns 391,700 shares of the software maker’s stock worth $32,621,000 after acquiring an additional 378,160 shares in the last quarter. Finally, Balyasny Asset Management LLC boosted its holdings in Workday by 492.8% in the second quarter. Balyasny Asset Management LLC now owns 383,164 shares of the software maker’s stock worth $37,167,000 after acquiring an additional 318,523 shares in the last quarter. 67.08% of the stock is owned by institutional investors and hedge funds.

About Workday

Workday, Inc is a provider of enterprise cloud applications for finance and human resources. The Company delivers financial management, human capital management and analytics applications designed for various companies, educational institutions and government agencies. As part of its applications, the Company provides embedded analytics that capture the content and context of everyday business events, facilitating informed decision-making from wherever users are working.

Analyst Recommendations for Workday (NYSE:WDAY)

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