Workday (NASDAQ:WDAY) Rating Increased to Moderate Sell at CLSA

Workday (NASDAQ:WDAY) was upgraded by CLSA to a “moderate sell” rating in a research note issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on WDAY. BTIG Research restated a “buy” rating and set a $175.00 price objective on shares of Workday in a research report on Monday, May 18th. BMO Capital Markets reiterated an “outperform” rating on shares of Workday in a research report on Friday, May 22nd. Wall Street Zen raised shares of Workday from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Wells Fargo & Company boosted their price objective on Workday from $180.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Finally, Citigroup reaffirmed a “market perform” rating on shares of Workday in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $179.80.

Workday Stock Up 1.7%

Shares of NASDAQ WDAY opened at $147.22 on Monday. The company has a 50 day simple moving average of $131.97 and a 200 day simple moving average of $143.53. The firm has a market cap of $36.36 billion, a PE ratio of 46.01, a price-to-earnings-growth ratio of 1.55 and a beta of 1.11. Workday has a 1 year low of $110.36 and a 1 year high of $249.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.15. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.23 EPS. On average, research analysts forecast that Workday will post 5.34 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 107,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $122.04, for a total transaction of $13,119,300.00. Following the sale, the insider directly owned 105,049 shares in the company, valued at approximately $12,820,179.96. This represents a 50.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Enslin sold 5,374 shares of the firm’s stock in a transaction on Sunday, July 5th. The shares were sold at an average price of $134.90, for a total transaction of $724,952.60. Following the completion of the transaction, the insider directly owned 239,469 shares of the company’s stock, valued at approximately $32,304,368.10. The trade was a 2.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 875,020 shares of company stock worth $113,938,503. 18.64% of the stock is owned by insiders.

Hedge Funds Weigh In On Workday

A number of institutional investors have recently made changes to their positions in WDAY. Rakuten Securities Inc. purchased a new position in Workday in the second quarter worth $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Workday during the 3rd quarter valued at about $26,000. DT Investment Partners LLC purchased a new position in shares of Workday during the 4th quarter valued at about $27,000. LRI Investments LLC bought a new stake in Workday in the 4th quarter worth approximately $29,000. Finally, JPL Wealth Management LLC bought a new stake in Workday in the 3rd quarter worth approximately $30,000. Institutional investors own 89.81% of the company’s stock.

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.