Workday (NASDAQ:WDAY) Downgraded to “Hold” at Loop Capital

Loop Capital downgraded shares of Workday (NASDAQ:WDAYGet Rating) from a buy rating to a hold rating in a research note issued to investors on Monday morning, The Fly reports. The brokerage currently has $150.00 price objective on the software maker’s stock, down from their prior price objective of $225.00.

Other equities research analysts have also recently issued reports about the stock. Guggenheim raised shares of Workday from a sell rating to a neutral rating in a report on Monday, November 7th. Needham & Company LLC increased their price target on shares of Workday from $200.00 to $220.00 and gave the stock a buy rating in a report on Friday, August 26th. Monness Crespi & Hardt cut shares of Workday from a buy rating to a neutral rating in a report on Thursday, November 17th. Mizuho increased their price target on shares of Workday from $200.00 to $220.00 and gave the stock a buy rating in a report on Friday, August 26th. Finally, TheStreet cut shares of Workday from a c- rating to a d+ rating in a report on Friday, August 26th. Ten analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $224.14.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $143.20 on Monday. The company has a 50-day simple moving average of $149.34 and a 200-day simple moving average of $153.22. Workday has a one year low of $128.72 and a one year high of $286.71. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a market capitalization of $36.66 billion, a price-to-earnings ratio of -183.59 and a beta of 1.29.

Workday (NASDAQ:WDAYGet Rating) last announced its earnings results on Thursday, August 25th. The software maker reported ($0.16) EPS for the quarter, meeting analysts’ consensus estimates of ($0.16). Workday had a negative net margin of 3.46% and a negative return on equity of 2.34%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the company earned $0.49 earnings per share. On average, analysts predict that Workday will post -0.61 EPS for the current year.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 102,500 shares of Workday stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $156.24, for a total value of $16,014,600.00. Following the transaction, the insider now owns 102,500 shares in the company, valued at approximately $16,014,600. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Workday news, insider Douglas A. Robinson sold 2,128 shares of Workday stock in a transaction on Saturday, October 15th. The shares were sold at an average price of $147.14, for a total value of $313,113.92. Following the transaction, the insider now owns 132,545 shares in the company, valued at approximately $19,502,671.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 102,500 shares of Workday stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $156.24, for a total transaction of $16,014,600.00. Following the completion of the transaction, the insider now owns 102,500 shares in the company, valued at approximately $16,014,600. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 120,974 shares of company stock worth $18,758,209. 21.74% of the stock is owned by insiders.

Hedge Funds Weigh In On Workday

Hedge funds have recently made changes to their positions in the business. AllSquare Wealth Management LLC purchased a new position in shares of Workday in the 3rd quarter valued at $25,000. Guardian Wealth Advisors LLC purchased a new position in shares of Workday in the 3rd quarter valued at $29,000. Whittier Trust Co. raised its stake in shares of Workday by 152.0% in the 1st quarter. Whittier Trust Co. now owns 126 shares of the software maker’s stock valued at $30,000 after acquiring an additional 76 shares during the period. Sentry Investment Management LLC purchased a new position in shares of Workday in the 1st quarter valued at $31,000. Finally, Lindbrook Capital LLC raised its stake in shares of Workday by 72.6% in the 2nd quarter. Lindbrook Capital LLC now owns 252 shares of the software maker’s stock valued at $35,000 after acquiring an additional 106 shares during the period. Hedge funds and other institutional investors own 68.16% of the company’s stock.

Workday Company Profile

(Get Rating)

Workday, Inc provides enterprise cloud applications in the United States and internationally. The company's applications help its customers to plan, execute, analyze, and extend to other applications and environments, and to manage their business and operations. It offers a suite of financial management applications, which enable chief financial officers to maintain accounting information in the general ledger; manage financial processes; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.

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