Workday (NASDAQ:WDAY) Downgraded by BidaskClub

BidaskClub cut shares of Workday (NASDAQ:WDAY) from a buy rating to a hold rating in a research note issued to investors on Wednesday, BidAskClub reports.

A number of other equities research analysts have also issued reports on the stock. BMO Capital Markets increased their target price on shares of NFI Group from C$33.00 to C$36.00 in a report on Wednesday, May 29th. Oppenheimer reduced their target price on shares of KemPharm from $8.00 to $3.00 and set an outperform rating on the stock in a report on Thursday, May 23rd. Exane BNP Paribas began coverage on shares of Workday in a report on Friday, March 29th. They set an underperform rating on the stock. Piper Jaffray Companies increased their target price on shares of Workday from $225.00 to $240.00 and gave the stock an overweight rating in a report on Wednesday, May 29th. Finally, Deutsche Bank increased their price objective on shares of Workday from $190.00 to $200.00 and gave the company a hold rating in a research report on Wednesday, May 29th. Five analysts have rated the stock with a sell rating, ten have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Hold and an average price target of $206.32.

Workday stock opened at $214.24 on Wednesday. The firm has a market cap of $49.24 billion, a price-to-earnings ratio of -175.61 and a beta of 1.56. Workday has a 52-week low of $117.72 and a 52-week high of $226.83. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.09 and a current ratio of 1.09. The business’s 50 day simple moving average is $211.46.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, May 28th. The software maker reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.03). The business had revenue of $825.10 million for the quarter, compared to analyst estimates of $814.21 million. Workday had a negative return on equity of 14.92% and a negative net margin of 15.19%. Workday’s quarterly revenue was up 33.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 earnings per share. Analysts predict that Workday will post -1.06 EPS for the current year.

In related news, Director David A. Duffield sold 281 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $219.67, for a total value of $61,727.27. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robynne Sisco sold 10,235 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $218.42, for a total transaction of $2,235,528.70. The disclosure for this sale can be found here. Insiders sold a total of 757,346 shares of company stock worth $154,821,963 over the last ninety days. Insiders own 29.80% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors grew its position in Workday by 60.0% during the 4th quarter. Captrust Financial Advisors now owns 160 shares of the software maker’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Shine Investment Advisory Services Inc. grew its position in Workday by 60.9% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 148 shares of the software maker’s stock worth $29,000 after purchasing an additional 56 shares during the last quarter. Lindbrook Capital LLC grew its position in Workday by 149.2% during the 1st quarter. Lindbrook Capital LLC now owns 152 shares of the software maker’s stock worth $29,000 after purchasing an additional 91 shares during the last quarter. Advisory Alpha LLC purchased a new position in Workday during the 1st quarter worth $30,000. Finally, Meeder Asset Management Inc. purchased a new position in Workday during the 1st quarter worth $31,000. 65.97% of the stock is currently owned by hedge funds and other institutional investors.

About Workday

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.

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