Workday (WDAY) Earns Sell Rating from Citigroup

Citigroup restated their sell rating on shares of Workday (NASDAQ:WDAY) in a research note issued to investors on Thursday. They currently have a $85.00 price target on the software maker’s stock.

Several other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Workday from $92.00 to $98.00 and gave the stock a hold rating in a research note on Thursday. Wedbush reaffirmed a neutral rating and set a $104.00 target price (down previously from $106.00) on shares of Workday in a research note on Thursday. J P Morgan Chase & Co reaffirmed a buy rating and set a $120.00 target price on shares of Workday in a research note on Tuesday, November 28th. Bank of America lifted their target price on shares of Workday from $123.00 to $134.00 and gave the stock a buy rating in a research note on Monday, November 27th. Finally, BidaskClub raised shares of Workday from a buy rating to a strong-buy rating in a research note on Wednesday, November 22nd. Four investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $102.73.

Shares of Workday (NASDAQ WDAY) traded down $2.48 on Thursday, reaching $100.52. 3,663,892 shares of the company’s stock traded hands, compared to its average volume of 1,613,107. Workday has a 52 week low of $65.79 and a 52 week high of $116.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.54 and a current ratio of 1.54.

Workday (NASDAQ:WDAY) last announced its earnings results on Wednesday, November 29th. The software maker reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.10. Workday had a negative net margin of 16.91% and a negative return on equity of 20.71%. The company had revenue of $555.40 million for the quarter, compared to analysts’ expectations of $541.05 million. During the same quarter in the previous year, the company posted $0.03 EPS. The firm’s quarterly revenue was up 35.6% on a year-over-year basis. analysts forecast that Workday will post -1.31 earnings per share for the current fiscal year.

In related news, Director David A. Duffield sold 600 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $108.17, for a total value of $64,902.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David A. Duffield sold 457,386 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $109.35, for a total transaction of $50,015,159.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,456,940 shares of company stock worth $157,952,124. 37.71% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Winfield Associates Inc. raised its holdings in Workday by 136.4% in the 2nd quarter. Winfield Associates Inc. now owns 1,040 shares of the software maker’s stock valued at $101,000 after buying an additional 600 shares during the period. First Personal Financial Services raised its holdings in Workday by 21.2% in the 2nd quarter. First Personal Financial Services now owns 1,057 shares of the software maker’s stock valued at $103,000 after buying an additional 185 shares during the period. Global X Management Co. LLC raised its holdings in Workday by 9.3% in the 2nd quarter. Global X Management Co. LLC now owns 1,136 shares of the software maker’s stock valued at $110,000 after buying an additional 97 shares during the period. IFP Advisors Inc increased its stake in Workday by 17.6% during the second quarter. IFP Advisors Inc now owns 1,176 shares of the software maker’s stock worth $114,000 after purchasing an additional 176 shares during the period. Finally, Advisor Group Inc. increased its stake in Workday by 22.5% during the second quarter. Advisor Group Inc. now owns 1,283 shares of the software maker’s stock worth $123,000 after purchasing an additional 236 shares during the period. Hedge funds and other institutional investors own 67.56% of the company’s stock.

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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.

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