Workday (NASDAQ:WDAY) Sets New 1-Year Low – What’s Next?

Workday, Inc. (NASDAQ:WDAY) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $169.01 and last traded at $170.9240, with a volume of 3281407 shares traded. The stock had previously closed at $189.12.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price objective on shares of Workday in a research report on Wednesday, November 26th. Barclays cut their price target on shares of Workday from $280.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 12th. TD Cowen reissued a “buy” rating on shares of Workday in a research note on Wednesday, November 26th. Cantor Fitzgerald restated an “overweight” rating on shares of Workday in a research note on Wednesday, November 26th. Finally, Stifel Nicolaus reduced their target price on Workday from $255.00 to $235.00 and set a “hold” rating on the stock in a report on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, Workday has an average rating of “Moderate Buy” and an average target price of $278.09.

Workday Price Performance

The company has a 50 day moving average price of $210.20 and a 200-day moving average price of $224.17. The company has a market cap of $45.26 billion, a price-to-earnings ratio of 72.40, a P/E/G ratio of 2.13 and a beta of 1.14. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.15. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.42 billion. Workday had a net margin of 6.95% and a return on equity of 10.50%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 EPS. As a group, equities research analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Activity

In other Workday news, insider Gerrit S. Kazmaier sold 6,547 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider owned 111,353 shares in the company, valued at approximately $24,360,695.81. This trade represents a 5.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Duffield sold 82,884 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $209.75, for a total transaction of $17,384,919.00. Following the completion of the transaction, the insider owned 105,049 shares in the company, valued at $22,034,027.75. This trade represents a 44.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 370,321 shares of company stock worth $78,866,401. 20.00% of the stock is owned by corporate insiders.

Institutional Trading of Workday

A number of large investors have recently bought and sold shares of WDAY. Verdence Capital Advisors LLC boosted its holdings in Workday by 1.0% in the second quarter. Verdence Capital Advisors LLC now owns 4,381 shares of the software maker’s stock worth $1,051,000 after purchasing an additional 45 shares during the period. Perennial Investment Advisors LLC boosted its holdings in shares of Workday by 2.8% in the 2nd quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker’s stock valued at $418,000 after buying an additional 48 shares during the period. Finivi Inc. grew its position in shares of Workday by 3.3% during the 3rd quarter. Finivi Inc. now owns 1,516 shares of the software maker’s stock valued at $365,000 after buying an additional 48 shares during the last quarter. Johnson Investment Counsel Inc. raised its stake in Workday by 2.3% during the second 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 during the period. Finally, Bay Harbor Wealth Management LLC lifted its holdings in Workday by 12.0% in the third quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker’s stock worth $110,000 after acquiring an additional 49 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.