Investors Buy Workday (WDAY) on Weakness

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Traders purchased shares of Workday Inc (NASDAQ:WDAY) on weakness during trading hours on Friday. $155.92 million flowed into the stock on the tick-up and $96.22 million flowed out of the stock on the tick-down, for a money net flow of $59.70 million into the stock. Of all stocks tracked, Workday had the 18th highest net in-flow for the day. Workday traded down ($3.19) for the day and closed at $187.83

Several research firms have commented on WDAY. Northland Securities restated a “hold” rating and issued a $200.00 target price on shares of Workday in a research note on Friday, March 1st. Oppenheimer boosted their target price on Workday from $185.00 to $216.00 and gave the company an “outperform” rating in a research note on Tuesday, February 26th. BNP Paribas began coverage on Workday in a research note on Friday, March 29th. They issued an “underperform” rating and a $125.00 target price on the stock. Exane BNP Paribas began coverage on Workday in a research note on Friday, March 29th. They issued an “underperform” rating on the stock. Finally, Jefferies Financial Group boosted their target price on Workday to $189.00 and gave the company a “hold” rating in a research note on Friday, March 1st. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. Workday presently has a consensus rating of “Buy” and an average price target of $185.69.

The stock has a market capitalization of $41.32 billion, a price-to-earnings ratio of -153.96 and a beta of 1.80. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.50.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, February 28th. The software maker reported ($0.29) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.02. The firm had revenue of $788.63 million for the quarter, compared to analyst estimates of $776.84 million. Workday had a negative return on equity of 14.75% and a negative net margin of 14.82%. As a group, equities research analysts predict that Workday Inc will post -1.18 earnings per share for the current year.

In related news, Director David A. Duffield sold 1,124 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $192.96, for a total transaction of $216,887.04. Following the transaction, the director now directly owns 158,821 shares of the company’s stock, valued at approximately $30,646,100.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robynne Sisco sold 23,808 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $194.75, for a total value of $4,636,608.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,125,508 shares of company stock worth $208,331,415 in the last ninety days. Insiders own 33.59% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Nvwm LLC increased its holdings in shares of Workday by 2.6% during the 4th quarter. Nvwm LLC now owns 5,073 shares of the software maker’s stock worth $810,000 after acquiring an additional 127 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Workday by 0.8% during the 4th quarter. State of Alaska Department of Revenue now owns 17,941 shares of the software maker’s stock worth $2,864,000 after acquiring an additional 144 shares during the last quarter. Cypress Asset Management Inc. TX increased its holdings in shares of Workday by 175.7% during the 4th quarter. Cypress Asset Management Inc. TX now owns 11,620 shares of the software maker’s stock worth $1,855,000 after acquiring an additional 7,405 shares during the last quarter. Standard Life Aberdeen plc increased its holdings in shares of Workday by 3.8% during the 4th quarter. Standard Life Aberdeen plc now owns 7,699 shares of the software maker’s stock worth $1,220,000 after acquiring an additional 279 shares during the last quarter. Finally, Telemark Asset Management LLC acquired a new position in shares of Workday during the 4th quarter worth approximately $15,968,000. 69.74% of the stock is currently owned by institutional investors and hedge funds.

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Workday Company Profile (NASDAQ:WDAY)

Workday, Inc provides enterprise cloud applications for finance and human resources worldwide. It provides applications for customers to manage critical business functions to optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, employee expense and revenue management, projects, procurement, inventory, and grants management.

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