Workday (NASDAQ:WDAY) Reaches New 1-Year Low – Time to Sell?

Workday, Inc. (NASDAQ:WDAY) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $201.90 and last traded at $200.52, with a volume of 1129833 shares. The stock had previously closed at $207.91.

Analyst Ratings Changes

WDAY has been the subject of several analyst reports. Macquarie reiterated a “buy” rating on shares of Workday in a research note on Wednesday, November 26th. Stifel Nicolaus lowered their price target on Workday from $255.00 to $235.00 and set a “hold” rating on the stock in a research note on Wednesday, November 26th. Piper Sandler upgraded shares of Workday from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $220.00 to $235.00 in a report on Wednesday, September 17th. Citizens Jmp reiterated a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Wednesday, November 26th. Finally, UBS Group set a $260.00 price objective on shares of Workday in a report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and a consensus price target of $278.09.

Workday Trading Down 4.0%

The business has a fifty day moving average price of $219.25 and a two-hundred day moving average price of $228.15. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $52.48 billion, a PE ratio of 83.84, a PEG ratio of 2.34 and a beta of 1.14.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.15. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.42 billion. Workday had a net margin of 6.95% and a return on equity of 10.50%. Workday’s revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.89 EPS. Analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Transactions at Workday

In other Workday news, insider Robert Enslin sold 22,185 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $210.17, for a total transaction of $4,662,621.45. Following the transaction, the insider directly owned 106,330 shares in the company, valued at $22,347,376.10. This represents a 17.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gerrit S. Kazmaier sold 6,547 shares of Workday stock in a transaction on Friday, December 19th. The shares were sold at an average price of $218.77, for a total value of $1,432,287.19. Following the completion of the sale, the insider directly owned 111,353 shares of the company’s stock, valued at $24,360,695.81. The trade was a 5.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 370,321 shares of company stock worth $78,866,401. 20.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Workday

A number of hedge funds and other institutional investors have recently bought and sold shares of WDAY. Fort Washington Investment Advisors Inc. OH increased its stake in Workday by 5.1% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 425,449 shares of the software maker’s stock worth $91,378,000 after purchasing an additional 20,594 shares during the period. Sendero Wealth Management LLC boosted its stake in shares of Workday by 3.9% in the fourth quarter. Sendero Wealth Management LLC now owns 8,921 shares of the software maker’s stock valued at $1,916,000 after purchasing an additional 336 shares during the period. CVA Family Office LLC grew its holdings in shares of Workday by 35.3% in the fourth quarter. CVA Family Office LLC now owns 249 shares of the software maker’s stock valued at $53,000 after purchasing an additional 65 shares in the last quarter. Czech National Bank increased its stake in Workday by 4.3% during the 4th quarter. Czech National Bank now owns 57,219 shares of the software maker’s stock worth $12,289,000 after buying an additional 2,359 shares during the period. Finally, SG Americas Securities LLC increased its stake in Workday by 1,292.9% during the 4th quarter. SG Americas Securities LLC now owns 87,322 shares of the software maker’s stock worth $18,755,000 after buying an additional 81,053 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.