Workday (NASDAQ:WDAY) Hits New 52-Week Low – Here’s What Happened

Shares of Workday, Inc. (NASDAQ:WDAY) hit a new 52-week low during trading on Tuesday . The stock traded as low as $201.90 and last traded at $200.52, with a volume of 1129833 shares trading hands. The stock had previously closed at $207.91.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Citizens Jmp reissued a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Wednesday, November 26th. TD Cowen decreased their target price on Workday from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Loop Capital set a $280.00 price target on Workday in a research note on Wednesday, December 10th. JPMorgan Chase & Co. cut their price objective on shares of Workday from $290.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Finally, The Goldman Sachs Group began coverage on shares of Workday in a report on Monday. They issued a “neutral” rating and a $238.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.09.

Workday Stock Down 4.0%

The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83. The company’s fifty day moving average price is $219.25 and its 200-day moving average price is $228.15. The stock has a market cap of $52.48 billion, a P/E ratio of 83.84, a price-to-earnings-growth ratio of 2.34 and a beta of 1.14.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data 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. Workday had a net margin of 6.95% and a return on equity of 10.50%. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same period in the prior year, the company posted $1.89 EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. Equities analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Insider Activity at Workday

In other Workday news, CAO Mark S. Garfield sold 953 shares of the business’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $209.56, for a total value of $199,710.68. Following the completion of the sale, the chief accounting officer directly owned 35,336 shares of the company’s stock, valued at $7,405,012.16. The trade was a 2.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $208.75, for a total transaction of $1,252,500.00. Following the transaction, the chief financial officer directly owned 159,158 shares in the company, valued at approximately $33,224,232.50. This trade represents a 3.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 370,321 shares of company stock worth $78,866,401 over the last ninety days. 20.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC raised its position in shares of Workday by 230.2% in the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after acquiring an additional 2,792 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Workday by 12.1% during the first quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock valued at $2,602,000 after buying an additional 1,206 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Workday by 211.7% in the first quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock valued at $44,000 after purchasing an additional 127 shares during the period. Kera Capital Partners Inc. acquired a new position in Workday in the 2nd quarter worth approximately $215,000. Finally, Parallel Advisors LLC raised its holdings in shares of Workday by 8.8% during the second quarter. Parallel Advisors LLC now owns 3,038 shares of the software maker’s stock worth $729,000 after purchasing an additional 245 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

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.