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

Dbs Bank upgraded shares of Workday (NASDAQ:WDAY) to a hold rating in a report issued on Wednesday,Zacks reports.

WDAY has been the subject of several other research reports. Cantor Fitzgerald reduced their price objective on shares of Workday from $220.00 to $205.00 and set an “overweight” rating for the company in a research report on Friday, August 28th. Wall Street Zen upgraded shares of Workday from a “hold” rating to a “buy” rating in a report on Saturday, September 5th. Guggenheim reiterated a “buy” rating and issued a $275.00 target price on shares of Workday in a report on Friday, August 21st. Canaccord Genuity Group increased their target price on shares of Workday from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Finally, Royal Bank Of Canada raised their target price on shares of Workday from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, August 28th. Twenty investment 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. According to MarketBeat, Workday has an average rating of “Hold” and a consensus price target of $206.34.

Workday Stock Down 0.5%

WDAY opened at $185.09 on Wednesday. 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 company has a market capitalization of $44.61 billion, a PE ratio of 37.54, a P/E/G ratio of 1.88 and a beta of 1.08. The stock’s fifty day moving average is $170.84 and its 200-day moving average is $143.94. Workday has a one year low of $110.36 and a one year high of $249.85.

Workday (NASDAQ:WDAY) last announced 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. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Workday had a return on equity of 20.95% and a net margin of 12.32%.The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the business posted $2.21 earnings per share. On average, equities analysts predict that Workday will post 5.3 EPS for the current fiscal year.

Insider Activity

In other news, insider Robert Enslin sold 5,374 shares of Workday stock in a transaction that occurred on Sunday, July 5th. The shares were sold at an average price of $134.90, for a total value of $724,952.60. Following the transaction, the insider directly owned 239,469 shares of the company’s stock, valued at $32,304,368.10. This trade represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 Gerrit S. Kazmaier sold 2,728 shares of the business’s stock in a transaction that occurred on 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 $38,258,644.56. This represents a 1.01% 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. In the last quarter, insiders have sold 738,096 shares of company stock worth $106,054,737. 18.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Workday

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WDAY. Rakuten Securities Inc. purchased a new stake in shares of Workday in the second quarter valued at $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Workday during the third quarter valued at $26,000. JPL Wealth Management LLC acquired a new position in Workday during the third quarter valued at $30,000. DT Investment Partners LLC purchased a new stake in Workday in the 4th quarter worth about $27,000. Finally, Quarry LP purchased a new stake in Workday in the 4th quarter worth about $36,000. 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.