Workday (WDAY) Downgraded by BidaskClub to Buy

BidaskClub cut shares of Workday (NASDAQ:WDAY) from a strong-buy rating to a buy rating in a report released on Tuesday.

A number of other equities research analysts have also weighed in on the stock. BMO Capital Markets boosted their target price on shares of Workday from $105.00 to $110.00 and gave the company a market perform rating in a research note on Thursday, August 17th. Stifel Nicolaus reiterated a hold rating and set a $92.00 target price on shares of Workday in a research note on Tuesday, August 22nd. Piper Jaffray Companies reiterated a buy rating and set a $115.00 target price on shares of Workday in a research note on Tuesday, August 22nd. Royal Bank Of Canada reiterated a buy rating and set a $116.00 target price on shares of Workday in a research note on Sunday, August 27th. Finally, Needham & Company LLC reiterated a hold rating on shares of Workday in a research note on Monday, August 28th. Four investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and fourteen have assigned a buy rating to the company. Workday currently has an average rating of Hold and an average price target of $103.03.

Workday (NASDAQ WDAY) opened at $99.20 on Tuesday. Workday has a 12-month low of $65.79 and a 12-month high of $116.89. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.11 and a quick ratio of 2.11.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Wednesday, November 29th. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.10. The business had revenue of $555.40 million for the quarter, compared to analysts’ expectations of $541.05 million. Workday had a negative return on equity of 19.73% and a negative net margin of 16.91%. The firm’s quarterly revenue was up 35.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. equities analysts predict that Workday will post -1.31 EPS for the current year.

In related news, SVP James P. Shaughnessy sold 6,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $104.88, for a total value of $629,280.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David A. Duffield sold 457,386 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $109.35, for a total transaction of $50,015,159.10. The disclosure for this sale can be found here. Insiders have sold a total of 1,531,940 shares of company stock valued at $165,477,624 in the last three months. Insiders own 37.71% of the company’s stock.

Several large investors have recently made changes to their positions in WDAY. First Personal Financial Services lifted its holdings in shares of Workday by 21.2% in the 2nd quarter. First Personal Financial Services now owns 1,057 shares of the software maker’s stock valued at $103,000 after acquiring an additional 185 shares during the last quarter. Global X Management Co. LLC lifted its holdings in shares of Workday by 9.3% in the 2nd quarter. Global X Management Co. LLC now owns 1,136 shares of the software maker’s stock valued at $110,000 after acquiring an additional 97 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Workday by 17.6% in the 2nd quarter. IFP Advisors Inc now owns 1,176 shares of the software maker’s stock valued at $114,000 after acquiring an additional 176 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Workday by 22.5% in the 2nd quarter. Advisor Group Inc. now owns 1,283 shares of the software maker’s stock valued at $123,000 after acquiring an additional 236 shares during the last quarter. Finally, FNY Managed Accounts LLC lifted its holdings in shares of Workday by 607.7% in the 3rd quarter. FNY Managed Accounts LLC now owns 1,380 shares of the software maker’s stock valued at $145,000 after acquiring an additional 1,185 shares during the last quarter. 67.58% of the stock is owned by hedge funds and other institutional investors.

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About Workday

Workday, Inc is a provider of enterprise cloud applications for finance and human resources. The Company delivers financial management, human capital management and analytics applications designed for various companies, educational institutions and government agencies. As part of its applications, the Company provides embedded analytics that capture the content and context of everyday business events, facilitating informed decision-making from wherever users are working.

Analyst Recommendations for Workday (NASDAQ:WDAY)

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