Workday (NASDAQ:WDAY) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Monday, BidAskClub reports.

Several other equities analysts have also recently weighed in on WDAY. Needham & Company LLC reiterated a “buy” rating and issued a $250.00 price target on shares of Workday in a research report on Monday, December 9th. Societe Generale upgraded Workday from a “sell” rating to a “hold” rating and set a $180.00 price target for the company in a research report on Monday, March 2nd. Goldman Sachs Group upgraded Workday from a “buy” rating to a “conviction-buy” rating and set a $211.00 price target for the company in a research report on Friday, February 7th. Stifel Nicolaus reduced their price target on Workday from $180.00 to $174.00 and set a “hold” rating for the company in a research report on Friday, February 28th. Finally, Bank of America reiterated a “buy” rating and issued a $260.00 price target on shares of Workday in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $208.90.

Shares of NASDAQ WDAY opened at $150.31 on Monday. The stock has a market cap of $32.88 billion, a PE ratio of -70.90 and a beta of 1.42. Workday has a fifty-two week low of $142.80 and a fifty-two week high of $226.83. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a fifty day moving average of $182.74 and a 200-day moving average of $173.47.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, February 27th. The software maker reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.10. The company had revenue of $976.30 million during the quarter, compared to analysts’ expectations of $965.06 million. Workday had a negative return on equity of 12.92% and a negative net margin of 13.25%. The firm’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. On average, sell-side analysts predict that Workday will post -1.17 EPS for the current year.

In other news, insider Petros Dermetzis sold 5,290 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $160.33, for a total value of $848,145.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David A. Duffield sold 210 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $179.48, for a total value of $37,690.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 498,766 shares of company stock valued at $83,868,534. 29.80% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. ProShare Advisors LLC boosted its holdings in shares of Workday by 11.9% in the 4th quarter. ProShare Advisors LLC now owns 116,261 shares of the software maker’s stock worth $19,119,000 after purchasing an additional 12,382 shares in the last quarter. Scout Investments Inc. boosted its holdings in shares of Workday by 102.4% in the 4th quarter. Scout Investments Inc. now owns 100,254 shares of the software maker’s stock worth $16,487,000 after purchasing an additional 50,732 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Workday in the 3rd quarter worth about $6,088,000. Aigen Investment Management LP purchased a new position in shares of Workday in the 4th quarter worth about $59,000. Finally, Diversified Trust Co boosted its holdings in shares of Workday by 66.7% in the 4th quarter. Diversified Trust Co now owns 3,856 shares of the software maker’s stock worth $634,000 after purchasing an additional 1,543 shares in the last quarter. Hedge funds and other institutional investors own 66.81% 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.

Further Reading: Cash Flow

Analyst Recommendations for Workday (NASDAQ:WDAY)

Receive News & Ratings for Workday Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Workday and related companies with MarketBeat.com's FREE daily email newsletter.