Workday (NASDAQ:WDAY) Reaches New 1-Year Low – Time to Sell?

Workday, Inc. (NASDAQ:WDAY) shares hit a new 52-week low on Tuesday . The company traded as low as $184.00 and last traded at $183.8340, with a volume of 241644 shares changing hands. The stock had previously closed at $186.86.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. The Goldman Sachs Group assumed coverage on Workday in a research report on Monday, January 12th. They set a “neutral” rating and a $238.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Workday in a 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 on the stock in a report on Monday, January 12th. JPMorgan Chase & Co. decreased their price objective on shares of Workday from $290.00 to $270.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Finally, KeyCorp dropped their price objective on shares of Workday from $285.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $278.09.

Workday Stock Up 2.6%

The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.34. The business has a fifty day moving average of $213.86 and a two-hundred day moving average of $225.77. The company has a market cap of $49.49 billion, a price-to-earnings ratio of 79.07, a PEG ratio of 2.07 and a beta of 1.14.

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

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 82,884 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $209.75, for a total value of $17,384,919.00. Following the completion of the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $22,034,027.75. This represents a 44.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $208.75, for a total value 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. The trade was a 3.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 370,321 shares of company stock worth $78,866,401 over the last quarter. Corporate insiders own 19.31% of the company’s stock.

Institutional Investors Weigh In On Workday

Institutional investors and hedge funds have recently made changes to their positions in the business. Rakuten Securities Inc. acquired a new position in shares of Workday during the second quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Workday during the third quarter valued at $26,000. JPL Wealth Management LLC purchased a new stake in Workday in the 3rd quarter worth approximately $30,000. Berbice Capital Management LLC lifted its stake in shares of Workday by 136.4% during the 2nd quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock worth $31,000 after purchasing an additional 75 shares during the period. Finally, Golden State Wealth Management LLC lifted its stake in shares of Workday by 2,216.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock worth $33,000 after purchasing an additional 133 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Company Profile

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.