Workday (NASDAQ:WDAY) Raised to “Hold” at Dbs Bank

Workday (NASDAQ:WDAY) was upgraded by Dbs Bank to a “hold” rating in a note issued to investors on Wednesday, Zacks reports.

Several other equities research analysts have also recently weighed in on WDAY. Citigroup increased their price objective on Workday from $139.00 to $201.00 and gave the company a “neutral” rating in a research report on Friday, August 28th. BMO Capital Markets upped their target price on shares of Workday from $182.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, August 28th. Wells Fargo & Company increased their price target on shares of Workday from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, August 28th. Weiss Ratings upgraded shares of Workday from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 13th. Finally, Stifel Nicolaus boosted their price objective on shares of Workday from $115.00 to $160.00 and gave the stock a “hold” rating in a report on Friday, August 28th. Twenty analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $206.34.

Workday Trading Down 0.5%

Workday stock opened at $185.09 on Wednesday. Workday has a 52 week low of $110.36 and a 52 week high of $249.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $44.61 billion, a PE ratio of 37.54, a PEG ratio of 1.88 and a beta of 1.08. The business’s 50-day simple moving average is $170.84 and its 200-day simple moving average is $143.94.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $0.14. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.64 billion. Workday had a return on equity of 20.95% and a net margin of 12.32%.The company’s revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.21 EPS. Equities research analysts forecast that Workday will post 5.3 earnings per share for the current year.

Insider Activity

In other news, major shareholder David A. Duffield sold 90,615 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $198.14, for a total transaction of $17,954,456.10. Following the completion of the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $20,814,408.86. This trade represents a 46.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit S. Kazmaier sold 2,728 shares of Workday stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $143.62, for a total transaction of $391,795.36. Following the sale, the insider owned 266,388 shares in the company, valued at approximately $38,258,644.56. This trade represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 three months, insiders have sold 738,096 shares of company stock valued at $106,054,737. 18.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Junto Capital Management LP acquired a new stake in Workday during the second quarter valued at approximately $45,000,000. Tidal Investments LLC raised its holdings in shares of Workday by 43.6% in the 2nd quarter. Tidal Investments LLC now owns 1,439,456 shares of the software maker’s stock worth $176,218,000 after buying an additional 437,175 shares in the last quarter. Van Hulzen Asset Management LLC bought a new position in shares of Workday during the 2nd quarter worth approximately $511,000. National Pension Service lifted its position in shares of Workday by 11.9% during the 2nd quarter. National Pension Service now owns 460,512 shares of the software maker’s stock worth $56,376,000 after buying an additional 49,070 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its stake in Workday by 16.5% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 1,960 shares of the software maker’s stock valued at $240,000 after buying an additional 277 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

About Workday

Workday, Inc develops cloud-based enterprise software designed to help organizations manage finance, human resources and related business operations. Its platform provides tools for financial management, accounting, procurement, expenses, payroll, workforce management, recruiting, talent management, employee experience and enterprise planning.

The company also offers analytics, reporting and artificial intelligence capabilities that support budgeting, forecasting, workforce planning and business decision-making.