Workday (NASDAQ:WDAY) Sets New 52-Week Low – Time to Sell?

Workday, Inc. (NASDAQ:WDAY) hit a new 52-week low on Saturday . The stock traded as low as $202.22 and last traded at $205.79, with a volume of 6046961 shares traded. The stock had previously closed at $214.78.

Analysts Set New Price Targets

WDAY has been the topic of a number of analyst reports. Loop Capital set a $280.00 price objective on shares of Workday in a report on Wednesday, December 10th. Guggenheim restated a “buy” rating and issued a $285.00 price target on shares of Workday in a research note on Wednesday, November 26th. Wells Fargo & Company cut their price target on Workday from $300.00 to $290.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. UBS Group set a $260.00 price objective on Workday in a report on Wednesday, November 26th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Workday in a research note on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $282.22.

Workday Stock Performance

The stock has a market cap of $54.12 billion, a P/E ratio of 86.47, a PEG ratio of 2.42 and a beta of 1.14. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83. The company has a fifty day moving average of $222.50 and a 200 day moving average of $229.46.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.15. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.42 billion. Workday had a return on equity of 10.50% and a net margin of 6.95%.The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period last year, the firm earned $1.89 EPS. On average, equities analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Transactions at Workday

In other Workday news, CAO Mark S. Garfield sold 1,915 shares of the company’s stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $238.96, for a total value of $457,608.40. Following the completion of the sale, the chief accounting officer directly owned 37,351 shares of the company’s stock, valued at approximately $8,925,394.96. This represents a 4.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gerrit S. Kazmaier sold 6,547 shares of the firm’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $218.77, for a total transaction of $1,432,287.19. Following the transaction, the insider owned 111,353 shares of the company’s stock, valued at approximately $24,360,695.81. This trade represents a 5.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 340,966 shares of company stock valued at $75,095,274 in the last quarter. 19.31% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Verdence Capital Advisors LLC raised its holdings in shares of Workday by 1.0% during the 2nd quarter. Verdence Capital Advisors LLC now owns 4,381 shares of the software maker’s stock valued at $1,051,000 after purchasing an additional 45 shares in the last quarter. Finivi Inc. raised its holdings in Workday by 3.3% during the third quarter. Finivi Inc. now owns 1,516 shares of the software maker’s stock valued at $365,000 after buying an additional 48 shares in the last quarter. Perennial Investment Advisors LLC boosted its stake in shares of Workday by 2.8% during the 2nd quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker’s stock worth $418,000 after acquiring an additional 48 shares in the last quarter. Johnson Investment Counsel Inc. boosted its stake in shares of Workday by 2.3% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,201 shares of the software maker’s stock worth $528,000 after acquiring an additional 49 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC increased its holdings in shares of Workday by 12.0% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker’s stock valued at $110,000 after acquiring an additional 49 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Company Profile

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.