Workday (NASDAQ:WDAY) Downgraded by ValuEngine

ValuEngine downgraded shares of Workday (NASDAQ:WDAY) from a strong-buy rating to a buy rating in a research report released on Thursday morning, ValuEngine reports.

Several other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on Workday from $212.00 to $225.00 and gave the company an overweight rating in a research note on Wednesday, May 29th. Needham & Company LLC boosted their target price on Workday to $250.00 and gave the company a buy rating in a research note on Wednesday, May 29th. Wedbush boosted their target price on Workday from $209.00 to $211.00 and gave the company a neutral rating in a research note on Wednesday, May 29th. Credit Suisse Group upped their price target on Workday from $185.00 to $215.00 and gave the stock a neutral rating in a research note on Wednesday, May 29th. They noted that the move was a valuation call. Finally, Oppenheimer upped their price target on Workday from $216.00 to $225.00 and gave the stock an outperform rating in a research note on Thursday, May 23rd. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $206.32.

WDAY opened at $195.83 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.60. Workday has a 52-week low of $117.72 and a 52-week high of $226.83. The stock has a market capitalization of $46.07 billion, a PE ratio of -160.52 and a beta of 1.54. The company’s 50 day simple moving average is $213.13.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, May 28th. The software maker reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.03). Workday had a negative net margin of 15.19% and a negative return on equity of 14.92%. The business had revenue of $825.10 million for the quarter, compared to analysts’ expectations of $814.21 million. During the same period last year, the firm posted $0.33 earnings per share. Workday’s quarterly revenue was up 33.2% on a year-over-year basis. As a group, analysts forecast that Workday will post -1.06 earnings per share for the current fiscal year.

In other Workday news, CEO Aneel Bhusri sold 300,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $193.14, for a total value of $57,942,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David A. Duffield sold 281 shares of the company’s stock in a transaction dated 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. In the last 90 days, insiders sold 757,346 shares of company stock valued at $154,821,963. Company insiders own 29.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Avalon Advisors LLC purchased a new position in Workday during the 1st quarter valued at approximately $282,000. Budros Ruhlin & Roe Inc. purchased a new position in Workday during the 1st quarter valued at approximately $252,000. Columbus Circle Investors grew its holdings in Workday by 41.2% during the 1st quarter. Columbus Circle Investors now owns 62,604 shares of the software maker’s stock valued at $12,073,000 after buying an additional 18,277 shares in the last quarter. Arcus Capital Partners LLC grew its holdings in Workday by 13.5% during the 1st quarter. Arcus Capital Partners LLC now owns 9,025 shares of the software maker’s stock valued at $1,740,000 after buying an additional 1,075 shares in the last quarter. Finally, Motley Fool Asset Management LLC grew its holdings in Workday by 17.4% during the 1st quarter. Motley Fool Asset Management LLC now owns 3,299 shares of the software maker’s stock valued at $636,000 after buying an additional 490 shares in the last quarter. Hedge funds and other institutional investors own 66.15% of the company’s stock.

About Workday

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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