Workday (NASDAQ:WDAY) Rating Increased to Hold at Dbs Bank

by · The Markets Daily

Workday (NASDAQ:WDAY – Get Free Report) was upgraded by stock analysts at Dbs Bank to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

Several other research firms have also weighed in on WDAY. Sanford C. Bernstein upped their price objective on Workday from $216.00 to $238.00 and gave the company an “outperform” rating in a research note on Friday, August 28th. Freedom Broker lowered Workday from a “buy” rating to a “hold” rating and boosted their price target for the company from $180.00 to $200.00 in a research note on Friday, August 28th. TD Cowen lowered their price target on Workday from $220.00 to $210.00 and set a “hold” rating on the stock in a research report on Friday, August 28th. Canaccord Genuity Group lifted their price objective on Workday from $200.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. Finally, Wolfe Research restated an “outperform” rating and issued a $160.00 target price on shares of Workday in a research note on Friday, May 22nd. Twenty analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Workday has a consensus rating of “Hold” and an average price target of $206.34.

View Our Latest Research Report on Workday

Workday Trading Down 0.5%

Shares of WDAY 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 stock has a market cap of $44.61 billion, a price-to-earnings ratio of 37.54, a P/E/G ratio of 1.88 and a beta of 1.08. 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 fifty day moving average of $170.84 and a 200-day moving average of $143.94.

Workday (NASDAQ:WDAY – Get Free Report) last issued its earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.14. Workday had a net margin of 12.32% and a return on equity of 20.95%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the previous year, the business earned $2.21 EPS. The firm’s revenue was up 12.8% on a year-over-year basis. On average, equities research analysts forecast that Workday will post 5.3 earnings per share for the current fiscal year.

Insider Activity at Workday

In other news, insider Gerrit Kazmaier sold 2,728 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $143.62, for a total value of $391,795.36. Following the completion of the sale, the insider directly 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 sale was disclosed in a filing with the SEC, which is available through this link. 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. Also, insider Robert Enslin sold 5,374 shares of Workday stock in a transaction dated Sunday, July 5th. The shares were sold at an average price of $134.90, for a total value of $724,952.60. Following the completion of the transaction, the insider directly owned 239,469 shares of the company’s stock, valued at $32,304,368.10. This represents a 2.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last ninety days, insiders have sold 738,096 shares of company stock valued at $106,054,737. 18.64% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Workday

A number of large investors have recently modified their holdings of WDAY. California State Teachers Retirement System raised its position in Workday by 11,770.8% in the 2nd quarter. California State Teachers Retirement System now owns 36,907,426 shares of the software maker’s stock worth $4,518,207,000 after purchasing an additional 36,596,516 shares during the last quarter. Auto Owners Insurance Co increased its stake in shares of Workday by 25,412.8% in the 4th quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock valued at $2,197,332,000 after buying an additional 10,190,516 shares during the period. State Street Corp raised its position in shares of Workday by 1.0% during the fourth quarter. State Street Corp now owns 9,770,707 shares of the software maker’s stock worth $2,098,552,000 after acquiring an additional 96,139 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Workday by 47.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock valued at $1,406,463,000 after acquiring an additional 1,882,391 shares during the period. Finally, Geode Capital Management LLC increased its position in Workday by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker’s stock worth $1,089,970,000 after purchasing an additional 75,922 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

About Workday

(Get Free Report)

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.

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