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

Wall Street Zen downgraded shares of Workday (NASDAQ:WDAY) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other equities analysts also recently weighed in on the stock. Barclays decreased their target price on shares of Workday from $230.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft cut their price target on Workday from $265.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Rosenblatt Securities lowered their price objective on Workday from $180.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Evercore cut Workday from an “outperform” rating to an “in-line” rating and set a $160.00 price objective for the company. in a research note on Wednesday, February 25th. Finally, Macquarie Infrastructure reissued a “buy” rating on shares of Workday in a report on Wednesday, November 26th. Twenty investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $203.00.

Workday Stock Down 0.8%

Shares of Workday stock opened at $133.09 on Friday. Workday has a 1 year low of $117.76 and a 1 year high of $276.00. The firm has a market cap of $35.00 billion, a price-to-earnings ratio of 51.59, a PEG ratio of 1.29 and a beta of 1.16. The company has a 50-day moving average of $164.66 and a 200 day moving average of $205.99. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.83.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, topping the consensus estimate of $2.32 by $0.15. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 7.26% and a return on equity of 13.37%. Workday’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.92 earnings per share. As a group, sell-side analysts anticipate that Workday will post 2.63 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $208.75, for a total value of $1,252,500.00. Following the transaction, the chief financial officer directly owned 159,158 shares of the company’s stock, valued at approximately $33,224,232.50. This represents a 3.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Richard Harry Sauer sold 1,130 shares of the stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $210.00, for a total value of $237,300.00. Following the sale, the insider owned 85,398 shares in the company, valued at approximately $17,933,580. This represents a 1.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 610,796 shares of company stock valued at $107,013,566 over the last ninety days. Corporate insiders own 19.31% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of WDAY. First Eagle Investment Management LLC purchased a new position in shares of Workday in the 3rd quarter worth $556,252,000. PKO Investment Management Joint Stock Co purchased a new stake in Workday during the third quarter valued at $1,805,000. Phoenix Financial Ltd. purchased a new stake in Workday during the third quarter valued at $2,000,000. Rakuten Investment Management Inc. bought a new position in Workday in the third quarter valued at about $124,718,000. Finally, Norges Bank bought a new position in Workday in the second quarter valued at about $442,702,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.