BidaskClub downgraded shares of Workday (NASDAQ:WDAY) from a strong-buy rating to a buy rating in a research report report published on Thursday, September 20th.

A number of other equities analysts also recently issued reports on the company. Moffett Nathanson restated a neutral rating on shares of Workday in a research note on Friday, June 1st. ValuEngine upgraded Workday from a hold rating to a buy rating in a research note on Monday, July 2nd. Monness Crespi & Hardt raised their price target on Workday from $158.00 to $175.00 and gave the stock a buy rating in a research note on Wednesday, September 5th. Piper Jaffray Companies restated an overweight rating and issued a $160.00 price target (up from $150.00) on shares of Workday in a research note on Wednesday, August 15th. Finally, Morgan Stanley raised their target price on Workday from $145.00 to $154.00 and gave the stock an overweight rating in a report on Wednesday, September 5th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $146.03.

Shares of Workday stock traded up $3.56 during midday trading on Thursday, hitting $128.31. The company had a trading volume of 2,075,303 shares, compared to its average volume of 1,772,382. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $31.68 billion, a P/E ratio of -101.03 and a beta of 2.01. Workday has a 52-week low of $95.35 and a 52-week high of $157.12.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, September 4th. The software maker reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. Workday had a negative return on equity of 13.36% and a negative net margin of 13.81%. The company had revenue of $671.70 million for the quarter, compared to the consensus estimate of $663.38 million. During the same quarter in the prior year, the business posted $0.24 EPS. The firm’s quarterly revenue was up 27.9% compared to the same quarter last year. As a group, equities analysts expect that Workday will post -1.11 EPS for the current year.

In other news, CEO Aneel Bhusri sold 7,380 shares of Workday stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $133.38, for a total transaction of $984,344.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP James P. Shaughnessy sold 4,800 shares of Workday stock in a transaction that occurred on Wednesday, October 10th. The shares were sold at an average price of $126.87, for a total transaction of $608,976.00. Following the sale, the senior vice president now directly owns 70,225 shares of the company’s stock, valued at approximately $8,909,445.75. The disclosure for this sale can be found here. Insiders have sold 505,845 shares of company stock valued at $68,655,239 in the last 90 days. Company insiders own 33.59% of the company’s stock.

A number of large investors have recently modified their holdings of WDAY. MUFG Securities EMEA plc bought a new position in Workday in the second quarter worth approximately $448,000. First Trust Advisors LP increased its position in shares of Workday by 43.3% during the second quarter. First Trust Advisors LP now owns 989,908 shares of the software maker’s stock worth $119,898,000 after purchasing an additional 299,251 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Workday by 1,077.7% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 286,841 shares of the software maker’s stock worth $34,742,000 after purchasing an additional 262,485 shares in the last quarter. TCW Group Inc. acquired a new position in shares of Workday during the first quarter worth $31,840,000. Finally, Franklin Resources Inc. increased its position in shares of Workday by 19.7% during the first quarter. Franklin Resources Inc. now owns 1,342,790 shares of the software maker’s stock worth $170,682,000 after purchasing an additional 220,640 shares in the last quarter. 67.50% of the stock is owned by institutional investors.

About Workday

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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Analyst Recommendations for Workday (NASDAQ:WDAY)

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