Workday (NASDAQ:WDAY) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday.
A number of other equities analysts have also weighed in on WDAY. Cleveland Research started coverage on Workday in a research report on Wednesday, January 31st. They set a “buy” rating on the stock. Needham & Company LLC raised Workday from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a research report on Monday, February 12th. Deutsche Bank upped their target price on Workday from $105.00 to $115.00 and gave the stock a “hold” rating in a research report on Tuesday, February 20th. Royal Bank of Canada upped their target price on Workday to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Finally, Cowen reaffirmed a “market perform” rating and set a $117.00 target price (up from $107.00) on shares of Workday in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $124.42.
Shares of Workday opened at $130.79 on Thursday, according to MarketBeat Ratings. Workday has a 52-week low of $92.79 and a 52-week high of $140.00. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $27.46 billion, a price-to-earnings ratio of -102.98 and a beta of 1.80.
Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, February 27th. The software maker reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.09. Workday had a negative return on equity of 16.31% and a negative net margin of 14.99%. The firm had revenue of $582.48 million for the quarter, compared to analyst estimates of $573.41 million. equities analysts predict that Workday will post -1.24 earnings per share for the current year.
In other Workday news, CEO Aneel Bhusri sold 75,000 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $127.23, for a total value of $9,542,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael A. Stankey sold 8,066 shares of the company’s stock in a transaction on Tuesday, April 17th. The shares were sold at an average price of $127.28, for a total value of $1,026,640.48. The disclosure for this sale can be found here. Insiders sold a total of 673,318 shares of company stock valued at $85,639,988 in the last 90 days. Corporate insiders own 33.59% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Twin Tree Management LP lifted its position in shares of Workday by 112.5% during the 1st quarter. Twin Tree Management LP now owns 957 shares of the software maker’s stock valued at $122,000 after buying an additional 8,609 shares during the last quarter. Northstar Capital Management LLC purchased a new position in shares of Workday during the 1st quarter valued at $133,000. Bailard Inc. purchased a new position in shares of Workday during the 1st quarter valued at $206,000. Commerce Bank purchased a new position in shares of Workday during the 1st quarter valued at $209,000. Finally, EP Wealth Advisors LLC purchased a new position in shares of Workday during the 1st quarter valued at $218,000. 69.69% of the stock is currently owned by hedge funds and other institutional investors.
Workday, Inc provides enterprise cloud applications for finance and human resources worldwide. It provides applications for customers to manage critical business functions to 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, employee expense and revenue management, projects, procurement, inventory, and grants management.
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