Workday (NASDAQ:WDAY) Lowered to “Buy” at StockNews.com

StockNews.com lowered shares of Workday (NASDAQ:WDAY) from a strong-buy rating to a buy rating in a report released on Monday.

WDAY has been the subject of several other reports. Needham & Company LLC increased their target price on Workday from $300.00 to $350.00 and gave the company a buy rating in a report on Tuesday, February 27th. KeyCorp lifted their target price on shares of Workday from $310.00 to $330.00 and gave the stock an overweight rating in a research note on Thursday, February 22nd. Barclays dropped their price target on shares of Workday from $326.00 to $316.00 and set an overweight rating for the company in a research report on Tuesday, February 27th. Stifel Nicolaus raised their price target on shares of Workday from $250.00 to $290.00 and gave the stock a hold rating in a report on Tuesday, February 27th. Finally, Mizuho upped their price objective on shares of Workday from $290.00 to $325.00 and gave the company a buy rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, Workday has an average rating of Moderate Buy and an average target price of $293.61.

Workday Stock Up 0.6 %

Shares of WDAY opened at $268.47 on Monday. Workday has a 1 year low of $174.25 and a 1 year high of $311.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a 50 day simple moving average of $282.73 and a two-hundred day simple moving average of $260.76. The firm has a market cap of $70.88 billion, a P/E ratio of 52.13, a P/E/G ratio of 6.71 and a beta of 1.32.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.10. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. The firm’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.14) EPS. On average, analysts forecast that Workday will post 1.76 earnings per share for the current fiscal year.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 65,221 shares of Workday stock in a transaction on Monday, April 8th. The stock was sold at an average price of $268.29, for a total transaction of $17,498,142.09. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $27,633,065.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder David A. Duffield sold 65,221 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $268.29, for a total value of $17,498,142.09. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $27,633,065.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total transaction of $916,918.59. Following the transaction, the insider now directly owns 165,932 shares in the company, valued at approximately $48,749,162.28. The disclosure for this sale can be found here. Insiders sold 379,691 shares of company stock worth $102,897,729 in the last three months. Corporate insiders own 21.09% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Ballentine Partners LLC lifted its position in shares of Workday by 8.2% in the first quarter. Ballentine Partners LLC now owns 1,788 shares of the software maker’s stock valued at $488,000 after acquiring an additional 136 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in Workday in the 1st quarter worth approximately $202,000. Douglas Lane & Associates LLC boosted its stake in Workday by 27.7% in the 1st quarter. Douglas Lane & Associates LLC now owns 42,888 shares of the software maker’s stock worth $11,698,000 after purchasing an additional 9,293 shares during the period. Gulf International Bank UK Ltd boosted its stake in Workday by 0.6% in the 1st quarter. Gulf International Bank UK Ltd now owns 17,027 shares of the software maker’s stock worth $4,644,000 after purchasing an additional 107 shares during the period. Finally, First Affirmative Financial Network raised its position in shares of Workday by 10.3% during the first quarter. First Affirmative Financial Network now owns 1,595 shares of the software maker’s stock valued at $435,000 after buying an additional 149 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Company Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.