Workday (NASDAQ:WDAY) Cut to Strong Sell at BidaskClub

Share on StockTwits

BidaskClub downgraded shares of Workday (NASDAQ:WDAY) from a sell rating to a strong sell rating in a research report report published on Saturday, BidAskClub reports.

A number of other analysts have also issued reports on WDAY. ValuEngine lowered shares of Workday from a buy rating to a hold rating in a research report on Wednesday, September 4th. Morgan Stanley set a $219.00 price objective on shares of Workday and gave the company a buy rating in a research report on Friday, August 30th. Stifel Nicolaus upped their price objective on shares of Workday from $195.00 to $210.00 and gave the company a hold rating in a research note on Friday, August 30th. Monness Crespi & Hardt set a $262.00 target price on shares of Workday and gave the stock a buy rating in a research report on Friday, August 30th. Finally, Citigroup raised shares of Workday from a sell rating to a neutral rating and lifted their target price for the company from $138.00 to $192.00 in a research note on Friday, August 30th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $212.45.

Shares of WDAY stock opened at $173.89 on Friday. The company has a market capitalization of $39.28 billion, a price-to-earnings ratio of -142.53 and a beta of 1.56. Workday has a 1-year low of $117.72 and a 1-year high of $226.83. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. The stock’s fifty day simple moving average is $190.95 and its 200-day simple moving average is $198.66.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 29th. The software maker reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.05). Workday had a negative return on equity of 15.05% and a negative net margin of 15.25%. The business had revenue of $887.75 million during the quarter, compared to analysts’ expectations of $872.44 million. During the same period in the prior year, the company posted $0.31 earnings per share. The firm’s revenue was up 32.2% on a year-over-year basis. On average, sell-side analysts predict that Workday will post -1.07 EPS for the current year.

In related news, Director David A. Duffield sold 286,859 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $174.34, for a total value of $50,010,998.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Duffield sold 281 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $219.67, for a total value of $61,727.27. The disclosure for this sale can be found here. Insiders sold 1,041,609 shares of company stock valued at $198,819,164 over the last quarter. 29.80% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Workday by 7.7% in the second quarter. Vanguard Group Inc. now owns 9,609,541 shares of the software maker’s stock worth $1,975,530,000 after buying an additional 683,181 shares during the last quarter. Jennison Associates LLC lifted its position in Workday by 6.8% during the 1st quarter. Jennison Associates LLC now owns 8,716,482 shares of the software maker’s stock worth $1,680,974,000 after acquiring an additional 552,280 shares during the last quarter. Blair William & Co. IL lifted its position in Workday by 5.6% during the 1st quarter. Blair William & Co. IL now owns 1,077,343 shares of the software maker’s stock worth $207,766,000 after acquiring an additional 57,358 shares during the last quarter. Northern Trust Corp boosted its holdings in Workday by 3.8% during the second quarter. Northern Trust Corp now owns 1,058,023 shares of the software maker’s stock valued at $217,509,000 after acquiring an additional 38,748 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Workday by 6.7% during the second quarter. First Trust Advisors LP now owns 718,744 shares of the software maker’s stock valued at $147,759,000 after acquiring an additional 45,386 shares during the period. Institutional investors own 67.24% of the company’s stock.

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.

Further Reading: Percentage Gainers

Analyst Recommendations for Workday (NASDAQ:WDAY)

Receive News & Ratings for Workday Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Workday and related companies with MarketBeat.com's FREE daily email newsletter.