Workday (NASDAQ:WDAY) Rating Lowered to Sell at BidaskClub

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

A number of other equities analysts also recently commented on the company. Bank of America lifted their price target on Workday from $170.00 to $200.00 and gave the stock a buy rating in a research note on Thursday, May 28th. Rosenblatt Securities started coverage on Workday in a research note on Monday, May 4th. They issued a sell rating and a $110.00 price target for the company. Stifel Nicolaus lifted their price target on Workday from $174.00 to $190.00 and gave the stock a hold rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. lifted their target price on Workday from $175.00 to $190.00 and gave the company an overweight rating in a research note on Thursday, May 28th. Finally, Needham & Company LLC lifted their target price on Workday from $175.00 to $200.00 and gave the company a buy rating in a research note on Thursday, May 28th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Workday presently has a consensus rating of Buy and a consensus target price of $196.29.

Shares of NASDAQ WDAY opened at $180.92 on Wednesday. The firm has a market cap of $42.52 billion, a price-to-earnings ratio of -79.35 and a beta of 1.56. Workday has a 1 year low of $107.75 and a 1 year high of $208.69. The stock’s 50-day simple moving average is $185.52 and its 200-day simple moving average is $168.58. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.25 and a current ratio of 1.25.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Wednesday, May 27th. The software maker reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.05). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. Workday had a negative return on equity of 14.70% and a negative net margin of 13.68%. The firm’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter last year, the business posted $0.43 earnings per share. As a group, research analysts predict that Workday will post -1.01 EPS for the current year.

In related news, Director David A. Duffield sold 278,379 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $179.65, for a total transaction of $50,010,787.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David A. Duffield sold 78,750 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $176.13, for a total value of $13,870,237.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 494,860 shares of company stock worth $89,843,645. 26.51% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Baillie Gifford & Co. raised its holdings in Workday by 35.6% during the first quarter. Baillie Gifford & Co. now owns 7,055,860 shares of the software maker’s stock worth $918,814,000 after purchasing an additional 1,852,603 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Workday by 19.5% in the first quarter. Jennison Associates LLC now owns 6,523,739 shares of the software maker’s stock valued at $849,521,000 after buying an additional 1,062,497 shares in the last quarter. Loomis Sayles & Co. L P bought a new position in shares of Workday in the first quarter valued at $378,091,000. Viking Global Investors LP bought a new position in shares of Workday in the first quarter valued at $320,599,000. Finally, First Trust Advisors LP increased its holdings in shares of Workday by 293.6% in the second quarter. First Trust Advisors LP now owns 1,979,363 shares of the software maker’s stock valued at $370,853,000 after buying an additional 1,476,488 shares in the last quarter. 66.16% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Workday (NASDAQ:WDAY)

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