ValuEngine upgraded shares of Workday (NASDAQ:WDAY) from a hold rating to a buy rating in a research report released on Tuesday morning, ValuEngine reports.

A number of other research firms also recently issued reports on WDAY. BidaskClub downgraded Workday from a sell rating to a strong sell rating in a report on Saturday, September 7th. Deutsche Bank dropped their target price on shares of Workday from $200.00 to $185.00 and set a hold rating on the stock in a report on Wednesday, October 16th. Compass Point initiated coverage on shares of Workday in a research report on Tuesday, August 13th. They issued a buy rating and a $238.00 target price on the stock. Jefferies Financial Group decreased their price target on shares of Workday from $194.00 to $188.00 and set a hold rating for the company in a research note on Tuesday, October 8th. Finally, Bank of America reissued a buy rating and set a $260.00 price target on shares of Workday in a research report on Wednesday, November 27th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $208.06.

Shares of NASDAQ:WDAY opened at $160.97 on Tuesday. Workday has a 52-week low of $141.70 and a 52-week high of $226.83. The firm has a market capitalization of $40.84 billion, a P/E ratio of -131.94 and a beta of 1.54. The stock has a 50 day moving average price of $165.19 and a 200-day moving average price of $188.12. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, December 3rd. The software maker reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.16. Workday had a negative return on equity of 15.05% and a negative net margin of 15.25%. The company had revenue of $938.10 million during the quarter, compared to analysts’ expectations of $920.65 million. During the same quarter last year, the business posted $0.31 EPS. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. On average, equities analysts forecast that Workday will post -1.17 EPS for the current fiscal year.

In related news, CEO Aneel Bhusri sold 6,355 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $184.02, for a total transaction of $1,169,447.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David A. Duffield sold 271 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $184.71, for a total value of $50,056.41. The disclosure for this sale can be found here. Insiders have sold 509,292 shares of company stock valued at $86,126,565 in the last three months. 29.80% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Ballentine Partners LLC boosted its holdings in Workday by 4.0% in the second quarter. Ballentine Partners LLC now owns 1,427 shares of the software maker’s stock worth $294,000 after purchasing an additional 55 shares during the last quarter. Bray Capital Advisors grew its holdings in shares of Workday by 0.6% in the second quarter. Bray Capital Advisors now owns 11,555 shares of the software maker’s stock worth $2,375,000 after acquiring an additional 71 shares during the period. Wealthfront Advisers LLC grew its holdings in shares of Workday by 1.8% in the third quarter. Wealthfront Advisers LLC now owns 4,530 shares of the software maker’s stock worth $770,000 after acquiring an additional 80 shares during the period. Coldstream Capital Management Inc. increased its position in Workday by 0.8% during the second quarter. Coldstream Capital Management Inc. now owns 10,722 shares of the software maker’s stock valued at $2,204,000 after acquiring an additional 84 shares during the last quarter. Finally, Johanson Financial Advisors Inc. increased its position in Workday by 5.7% during the second quarter. Johanson Financial Advisors Inc. now owns 1,585 shares of the software maker’s stock valued at $324,000 after acquiring an additional 85 shares during the last quarter. Institutional investors and hedge funds own 67.09% of the company’s stock.

Workday Company Profile

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.

Read More: Preferred Stock

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Analyst Recommendations for Workday (NASDAQ:WDAY)

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