Workday (WDAY) Stock Rating Lowered by BidaskClub
Workday (NASDAQ:WDAY) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.
WDAY has been the topic of several other research reports. J P Morgan Chase & Co reissued a “buy” rating and set a $120.00 price target on shares of Workday in a research report on Tuesday, November 28th. Canaccord Genuity restated a “buy” rating and issued a $125.00 price objective on shares of Workday in a report on Friday, October 6th. FBN Securities upgraded shares of Workday from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $115.00 to $125.00 in a report on Wednesday, October 11th. Cowen restated a “market perform” rating and issued a $100.00 price objective on shares of Workday in a report on Saturday, October 14th. Finally, Barclays boosted their price objective on shares of Workday from $108.00 to $117.00 and gave the company an “equal weight” rating in a report on Friday, November 17th. Four research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $103.03.
Workday (WDAY) opened at $102.35 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.11 and a current ratio of 2.11. Workday has a 1 year low of $65.79 and a 1 year high of $116.89.
Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Wednesday, November 29th. The software maker reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.10. The firm had revenue of $555.40 million for the quarter, compared to analysts’ expectations of $541.05 million. Workday had a negative net margin of 16.91% and a negative return on equity of 19.73%. The company’s revenue was up 35.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS. sell-side analysts expect that Workday will post -1.31 earnings per share for the current year.
In related news, SVP James P. Shaughnessy sold 8,781 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $108.44, for a total transaction of $952,211.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Aneel Bhusri sold 11,163 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $107.51, for a total transaction of $1,200,134.13. The disclosure for this sale can be found here. Insiders have sold 1,531,940 shares of company stock worth $165,477,624 over the last quarter. Insiders own 37.71% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Workday by 8.5% during the second quarter. Vanguard Group Inc. now owns 10,782,861 shares of the software maker’s stock worth $1,045,937,000 after buying an additional 846,809 shares during the period. Tybourne Capital Management HK Ltd. increased its stake in shares of Workday by 2.2% during the second quarter. Tybourne Capital Management HK Ltd. now owns 2,935,961 shares of the software maker’s stock worth $284,788,000 after buying an additional 62,419 shares during the period. Federated Investors Inc. PA increased its stake in shares of Workday by 3.3% during the second quarter. Federated Investors Inc. PA now owns 1,322,300 shares of the software maker’s stock worth $128,263,000 after buying an additional 41,800 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Workday during the second quarter worth approximately $117,209,000. Finally, Janus Henderson Group PLC increased its stake in shares of Workday by 0.4% during the third quarter. Janus Henderson Group PLC now owns 1,042,200 shares of the software maker’s stock worth $109,838,000 after buying an additional 4,047 shares during the period. Hedge funds and other institutional investors own 67.58% of the company’s stock.
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Workday Company Profile
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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