Workday (NASDAQ:WDAY) Stock Price Down 3.4% – Time to Sell?

Workday, Inc. (NASDAQ:WDAY) shares fell 3.4% on Friday . The stock traded as low as $208.20 and last traded at $207.4610. 261,552 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 2,458,846 shares. The stock had previously closed at $214.78.

Wall Street Analyst Weigh In

WDAY has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Workday in a research report on Wednesday, October 8th. Needham & Company LLC reiterated a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Wednesday, November 26th. UBS Group set a $260.00 price target on shares of Workday in a research note on Wednesday, November 26th. Citigroup dropped their target price on shares of Workday from $261.00 to $247.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 26th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price target on shares of Workday in a research note on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $282.22.

Workday Trading Down 4.7%

The stock has a market capitalization of $53.85 billion, a P/E ratio of 85.89, a P/E/G ratio of 2.42 and a beta of 1.14. The stock’s 50 day moving average price is $223.24 and its 200-day moving average price is $229.74. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, topping the consensus estimate of $2.17 by $0.15. Workday had a return on equity of 10.50% and a net margin of 6.95%.The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same period in the previous year, the company posted $1.89 EPS. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, equities research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Buying and Selling at Workday

In other Workday news, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $232.62, for a total value of $1,395,720.00. Following the completion of the sale, the chief financial officer directly owned 168,468 shares of the company’s stock, valued at $39,189,026.16. This trade represents a 3.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael M. Mcnamara sold 5,393 shares of the company’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $235.16, for a total transaction of $1,268,217.88. Following the completion of the sale, the director directly owned 24,078 shares of the company’s stock, valued at $5,662,182.48. This represents a 18.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 340,966 shares of company stock valued at $75,095,274. Corporate insiders own 19.31% of the company’s stock.

Institutional Trading of Workday

A number of hedge funds and other institutional investors have recently made changes to their positions in WDAY. First Eagle Investment Management LLC purchased a new stake in Workday in the 3rd quarter valued at about $556,252,000. Hotchkis & Wiley Capital Management LLC grew its position in Workday by 47.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock worth $1,406,463,000 after purchasing an additional 1,882,391 shares during the last quarter. Norges Bank acquired a new position in shares of Workday in the second quarter valued at approximately $442,702,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Workday by 41.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,761,599 shares of the software maker’s stock worth $905,530,000 after buying an additional 1,103,421 shares during the last quarter. Finally, Generation Investment Management LLP raised its holdings in Workday by 50.4% during the third quarter. Generation Investment Management LLP now owns 3,087,395 shares of the software maker’s stock worth $743,229,000 after purchasing an additional 1,034,589 shares in the last quarter. Institutional investors and hedge funds 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.