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

Other research analysts have also recently issued research reports about the stock. Oppenheimer decreased their target price on shares of KemPharm from $8.00 to $3.00 and set an outperform rating on the stock in a research report on Thursday, May 23rd. Piper Jaffray Companies increased their price target on shares of Workday from $225.00 to $240.00 and gave the stock an overweight rating in a research report on Wednesday, May 29th. Needham & Company LLC increased their price target on shares of Cara Therapeutics from $28.00 to $35.00 and gave the stock a buy rating in a research report on Wednesday, May 29th. KeyCorp reissued a buy rating and set a $235.00 price target on shares of Workday in a research report on Wednesday, May 22nd. Finally, Bank of America began coverage on shares of HUYA in a research report on Wednesday, May 29th. They set a buy rating and a $26.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $206.32.

NASDAQ WDAY opened at $214.24 on Wednesday. The firm has a 50-day moving average of $211.46. Workday has a 12 month low of $117.72 and a 12 month high of $226.83. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $49.86 billion, a PE ratio of -175.61 and a beta of 1.56.

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

In other Workday news, CEO Aneel Bhusri sold 300,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $193.14, for a total value of $57,942,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Robynne Sisco sold 10,235 shares of the stock in a transaction that occurred 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 have sold 757,346 shares of company stock worth $154,821,963 over the last 90 days. Insiders own 29.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Alpha Cubed Investments LLC grew its position in shares of Workday by 0.8% during the second quarter. Alpha Cubed Investments LLC now owns 12,351 shares of the software maker’s stock worth $2,539,000 after acquiring an additional 94 shares during the last quarter. Destination Wealth Management purchased a new position in shares of Workday during the second quarter worth approximately $72,000. Arcus Capital Partners LLC grew its position in shares of Workday by 11.9% during the second quarter. Arcus Capital Partners LLC now owns 10,100 shares of the software maker’s stock worth $2,076,000 after acquiring an additional 1,075 shares during the last quarter. Crossvault Capital Management LLC grew its position in shares of Workday by 28.2% during the second quarter. Crossvault Capital Management LLC now owns 5,185 shares of the software maker’s stock worth $1,066,000 after acquiring an additional 1,140 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in shares of Workday by 31,200.8% during the second quarter. Bessemer Group Inc. now owns 520,532 shares of the software maker’s stock worth $107,011,000 after acquiring an additional 518,869 shares during the last quarter. Institutional investors own 65.97% of the company’s stock.

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.

Further Reading: Overbought

Analyst Recommendations for Workday (NASDAQ:WDAY)

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