Workday Inc (WDAY) Stock Rating Lowered by JMP Securities
Workday Inc (NYSE:WDAY) was downgraded by JMP Securities from a “market outperform” rating to a “market perform” rating in a research note issued to investors on Tuesday.
WDAY has been the subject of a number of other research reports. Credit Suisse Group reissued a “neutral” rating and set a $94.00 price objective on shares of Workday in a research report on Sunday, August 27th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $105.00 target price (up previously from $95.00) on shares of Workday in a report on Thursday, August 31st. J P Morgan Chase & Co upped their target price on shares of Workday to $115.00 and gave the stock an “overweight” rating in a report on Thursday, July 13th. BMO Capital Markets upped their target price on shares of Workday from $105.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, August 17th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $117.00 target price on shares of Workday in a report on Monday, September 18th. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and sixteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $99.85.
Workday (NYSE WDAY) opened at 109.36 on Tuesday. The company’s market capitalization is $22.75 billion. The stock has a 50 day moving average price of $106.06 and a 200-day moving average price of $98.51. Workday has a 12-month low of $65.79 and a 12-month high of $111.45.
Workday (NYSE:WDAY) last issued its quarterly earnings data on Wednesday, August 30th. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. Workday had a negative net margin of 15.71% and a negative return on equity of 24.60%. The firm had revenue of $525.30 million during the quarter, compared to the consensus estimate of $507.44 million. During the same quarter in the previous year, the firm posted ($0.04) EPS. The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. Equities analysts predict that Workday will post $0.83 EPS for the current fiscal year.
In other news, Director David A. Duffield sold 461,232 shares of the firm’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $108.44, for a total transaction of $50,015,998.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP James P. Shaughnessy sold 8,760 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $103.62, for a total transaction of $907,711.20. The disclosure for this sale can be found here. Insiders sold a total of 1,574,566 shares of company stock worth $170,342,437 over the last three months. 37.71% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of WDAY. Renaissance Technologies LLC purchased a new position in shares of Workday during the second quarter worth approximately $117,209,000. Janus Henderson Group PLC increased its position in shares of Workday by 6,210.6% during the second quarter. Janus Henderson Group PLC now owns 1,038,153 shares of the software maker’s stock worth $100,701,000 after acquiring an additional 1,021,702 shares during the period. Vanguard Group Inc. increased its position in shares of Workday by 8.5% during the second quarter. Vanguard Group Inc. now owns 10,782,861 shares of the software maker’s stock worth $1,045,937,000 after acquiring an additional 846,809 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of Workday by 2,792.9% during the first quarter. Nomura Asset Management Co. Ltd. now owns 391,700 shares of the software maker’s stock worth $32,621,000 after acquiring an additional 378,160 shares during the period. Finally, Balyasny Asset Management LLC increased its position in shares of Workday by 492.8% during the second quarter. Balyasny Asset Management LLC now owns 383,164 shares of the software maker’s stock worth $37,167,000 after acquiring an additional 318,523 shares during the period. 67.08% of the stock is currently owned by institutional investors and hedge funds.
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.
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