Trading Report: Today: Workday Inc. (WDAY) Given “Hold” Rating at Needham & Company LLC

Today: Workday Inc. (WDAY) Given “Hold” Rating at Needham & Company LLC

Workday Inc. (NYSE:WDAY)‘s stock had its “hold” rating reissued by Needham & Company LLC in a report released on Monday.

Other analysts have also recently issued reports about the company. DA Davidson reiterated a “buy” rating and set a $99.00 price target (up from $97.00) on shares of Workday in a research report on Wednesday, August 24th. Vetr upgraded Workday from a “strong sell” rating to a “buy” rating and set a $87.56 target price for the company in a report on Monday, August 22nd. BTIG Research restated a “buy” rating and issued a $92.00 target price on shares of Workday in a report on Monday, August 22nd. Drexel Hamilton upped their target price on Workday from $92.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, August 25th. Finally, Wunderlich dropped their target price on Workday from $78.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, August 25th. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have issued a buy rating to the company. Workday presently has an average rating of “Hold” and a consensus target price of $85.72.

Shares of Workday (NYSE:WDAY) traded down 0.26% during trading on Monday, hitting $83.42. The stock had a trading volume of 893,518 shares. Workday has a 12 month low of $47.32 and a 12 month high of $93.35. The company’s 50 day moving average price is $85.38 and its 200 day moving average price is $82.24. The stock’s market cap is $16.68 billion.

In other news, CFO Robynne Sisco sold 1,325 shares of the firm’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $86.46, for a total value of $114,559.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark S. Peek sold 22,222 shares of the firm’s stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $85.01, for a total value of $1,889,092.22. The disclosure for this sale can be found here. 41.78% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Matrix Capital Management Company LP acquired a new stake in Workday during the third quarter valued at approximately $468,573,000. Vanguard Group Inc. boosted its position in shares of Workday by 7.5% in the second quarter. Vanguard Group Inc. now owns 8,269,840 shares of the company’s stock valued at $617,509,000 after buying an additional 577,294 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of Workday by 1,312.0% in the third quarter. 1832 Asset Management L.P. now owns 590,200 shares of the company’s stock valued at $52,862,000 after buying an additional 548,400 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Workday during the third quarter valued at about $48,736,000. Finally, Emerald Acquisition Ltd. purchased a new position in shares of Workday during the second quarter valued at about $39,136,000. 64.31% of the stock is owned by institutional investors and hedge funds.

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