Workday Inc (NASDAQ:WDAY) Receives Consensus Rating of “Hold” from Analysts

Shares of Workday Inc (NASDAQ:WDAY) have been given an average recommendation of “Hold” by the thirty-five brokerages that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $206.32.

WDAY has been the subject of a number of recent research reports. Needham & Company LLC boosted their price objective on shares of Workday to $250.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Deutsche Bank boosted their price objective on shares of Workday from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Wednesday, May 29th. Monness Crespi & Hardt reissued a “buy” rating and set a $262.00 price objective (up previously from $250.00) on shares of Workday in a research report on Wednesday, May 29th. ValuEngine downgraded shares of Workday from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Co boosted their price objective on shares of Workday from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Wednesday, May 29th.

Shares of WDAY stock traded down $0.19 during mid-day trading on Wednesday, reaching $187.14. 57,491 shares of the company’s stock traded hands, compared to its average volume of 1,485,779. Workday has a 12 month low of $117.72 and a 12 month high of $226.83. The firm’s 50 day moving average price is $211.84. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.60. The stock has a market cap of $41.91 billion, a price-to-earnings ratio of -153.40 and a beta of 1.54.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, May 28th. The software maker reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $814.21 million. During the same period in the previous year, the firm earned $0.33 EPS. The company’s revenue was up 33.2% on a year-over-year basis. On average, research analysts anticipate that Workday will post -1.06 earnings per share for the current year.

In other Workday news, SVP James P. Shaughnessy sold 1,500 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $213.68, for a total transaction of $320,520.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Duffield sold 1,054 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $205.21, for a total transaction of $216,291.34. The disclosure for this sale can be found here. Insiders have sold a total of 757,346 shares of company stock valued at $154,821,963 in the last three months. Insiders own 29.80% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Commerce Bank raised its position in shares of Workday by 23.4% during the 2nd quarter. Commerce Bank now owns 2,639 shares of the software maker’s stock valued at $543,000 after buying an additional 501 shares in the last quarter. Motco purchased a new stake in shares of Workday during the 2nd quarter valued at about $39,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Workday during the 2nd quarter valued at about $457,000. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Workday by 5.7% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 314,385 shares of the software maker’s stock valued at $64,845,000 after buying an additional 16,933 shares in the last quarter. Finally, Mirador Capital Partners LP raised its position in shares of Workday by 6.2% during the 2nd quarter. Mirador Capital Partners LP now owns 2,256 shares of the software maker’s stock valued at $464,000 after buying an additional 131 shares in the last quarter. 66.15% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Workday (NASDAQ:WDAY)

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