Workday (NASDAQ:WDAY) Upgraded to “Moderate Sell” at CLSA

CLSA upgraded shares of Workday (NASDAQ:WDAY) to a moderate sell rating in a report published on Monday,Zacks.com reports.

A number of other analysts have also recently commented on WDAY. Weiss Ratings reissued a “sell (d+)” rating on shares of Workday in a research report on Wednesday, June 17th. Morgan Stanley cut Workday from an “overweight” rating to an “underweight” rating and set a $145.00 price objective for the company. in a research note on Tuesday. Wall Street Zen raised Workday from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. TD Cowen restated a “hold” rating on shares of Workday in a report on Friday, May 22nd. Finally, William Blair raised Workday to a “strong-buy” rating in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $179.80.

Workday Stock Performance

Shares of Workday stock opened at $147.22 on Monday. Workday has a 12 month low of $110.36 and a 12 month high of $249.85. The firm has a market capitalization of $36.36 billion, a P/E ratio of 46.01, a P/E/G ratio of 1.55 and a beta of 1.11. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $131.97 and a two-hundred day simple moving average of $143.53.

Workday (NASDAQ:WDAY) last released 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. Workday had a net margin of 8.60% and a return on equity of 14.75%. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the firm earned $2.23 EPS. The company’s revenue was up 13.5% compared to the same quarter last year. On average, equities analysts forecast that Workday will post 5.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Workday news, CAO Mark S. Garfield sold 918 shares of the business’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $142.19, for a total value of $130,530.42. Following the completion of the transaction, the chief accounting officer owned 73,718 shares of the company’s stock, valued at approximately $10,481,962.42. The trade was a 1.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 company’s stock in a transaction dated Sunday, July 5th. The shares were sold at an average price of $134.90, for a total transaction of $724,952.60. Following the transaction, the insider owned 239,469 shares in the company, valued at $32,304,368.10. This represents a 2.19% decrease in their position. 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. Insiders sold 875,020 shares of company stock worth $113,938,503 in the last three months. 18.64% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Workday

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in Workday in the 4th quarter worth about $448,804,000. Harvest Fund Management Co. Ltd raised its stake in shares of Workday by 40.1% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock valued at $11,943,000 after acquiring an additional 15,903 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Workday by 18.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker’s stock valued at $122,804,000 after acquiring an additional 88,384 shares in the last quarter. Aurora Investment Counsel purchased a new stake in shares of Workday in the fourth quarter valued at approximately $2,357,000. Finally, Morningstar Investment Management LLC grew its stake in Workday by 127.2% in the fourth quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock worth $5,808,000 after purchasing an additional 15,138 shares in the last quarter. Hedge funds and other 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.