Workday (NASDAQ:WDAY) Upgraded by Dbs Bank to Hold Rating

Workday (NASDAQ:WDAY) was upgraded by investment analysts at Dbs Bank to a “hold” rating in a research note issued to investors on Wednesday, Zacks reports.

WDAY has been the subject of several other research reports. Robert W. Baird upped their target price on shares of Workday from $190.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Bank of America raised their price objective on Workday from $140.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 19th. DA Davidson boosted their target price on Workday from $135.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, August 28th. Lake Street Capital set a $205.00 price target on Workday in a report on Friday, August 14th. Finally, Needham & Company LLC lifted their price objective on Workday from $180.00 to $230.00 and gave the company a “buy” rating in a report on Friday, August 28th. Twenty analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $206.34.

Workday Stock Down 0.5%

NASDAQ:WDAY opened at $185.09 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. Workday has a 12-month low of $110.36 and a 12-month high of $249.85. The stock’s fifty day simple moving average is $170.84 and its 200-day simple moving average is $143.94. The firm has a market capitalization of $44.61 billion, a P/E ratio of 37.54, a P/E/G ratio of 1.88 and a beta of 1.08.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.14. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.64 billion. Workday had a return on equity of 20.95% and a net margin of 12.32%.The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.21 earnings per share. Equities research analysts expect that Workday will post 5.3 earnings per share for the current year.

Insider Transactions at Workday

In other Workday news, insider Gerrit Kazmaier sold 2,728 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $143.62, for a total transaction of $391,795.36. Following the completion of the transaction, the insider owned 266,388 shares of the company’s stock, valued at $38,258,644.56. This represents a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Robert Enslin sold 5,374 shares of the firm’s stock in a transaction that occurred on Sunday, July 5th. The stock was sold at an average price of $134.90, for a total transaction of $724,952.60. Following the transaction, the insider directly owned 239,469 shares of the company’s stock, valued at $32,304,368.10. This represents a 2.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 738,096 shares of company stock worth $106,054,737. Corporate insiders own 18.64% of the company’s stock.

Institutional Investors Weigh In On Workday

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WDAY. California State Teachers Retirement System boosted its stake in shares of Workday by 11,770.8% during the 2nd quarter. California State Teachers Retirement System now owns 36,907,426 shares of the software maker’s stock worth $4,518,207,000 after buying an additional 36,596,516 shares during the last quarter. Auto Owners Insurance Co raised its holdings in Workday by 25,412.8% during the fourth quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock worth $2,197,332,000 after acquiring an additional 10,190,516 shares in the last quarter. State Street Corp boosted its position in Workday by 1.0% during the fourth quarter. State Street Corp now owns 9,770,707 shares of the software maker’s stock valued at $2,098,552,000 after purchasing an additional 96,139 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in Workday by 47.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock valued at $1,406,463,000 after purchasing an additional 1,882,391 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Workday by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker’s stock valued at $1,089,970,000 after purchasing an additional 75,922 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Company Profile

Workday, Inc develops cloud-based enterprise software designed to help organizations manage finance, human resources and related business operations. Its platform provides tools for financial management, accounting, procurement, expenses, payroll, workforce management, recruiting, talent management, employee experience and enterprise planning.

The company also offers analytics, reporting and artificial intelligence capabilities that support budgeting, forecasting, workforce planning and business decision-making.