Guggenheim Initiates Coverage on Workday Inc (WDAY)
Investment analysts at Guggenheim assumed coverage on shares of Workday Inc (NYSE:WDAY) in a note issued to investors on Monday. The brokerage set a “neutral” rating and a $105.00 price target on the software maker’s stock. Guggenheim’s price objective points to a potential downside of 3.16% from the stock’s previous close.
Several other brokerages also recently commented on WDAY. Northland Securities reissued a “hold” rating and issued a $90.00 price objective on shares of Workday in a research note on Sunday. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $125.00 target price on shares of Workday in a report on Tuesday, October 17th. JMP Securities lowered Workday from a “market outperform” rating to a “market perform” rating in a report on Tuesday, October 10th. Cowen and Company reaffirmed a “market perform” rating and issued a $100.00 target price on shares of Workday in a report on Saturday, October 14th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $114.00 target price on shares of Workday in a report on Thursday, October 12th. Four investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $100.15.
Workday (NYSE WDAY) traded up 0.37% on Monday, hitting $108.82. The company had a trading volume of 120,520 shares. The company’s market capitalization is $22.63 billion. The stock’s 50-day moving average price is $106.18 and its 200 day moving average price is $100.70. Workday has a one year low of $65.79 and a one year high of $111.45.
Workday (NYSE:WDAY) last posted its quarterly earnings results on Wednesday, August 30th. The software maker reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.09. Workday had a negative return on equity of 24.60% and a negative net margin of 15.71%. The business had revenue of $525.30 million for the quarter, compared to the consensus estimate of $507.44 million. During the same period in the prior year, the business earned ($0.04) EPS. The firm’s revenue for the quarter was up 40.6% on a year-over-year basis. On average, analysts expect that Workday will post $0.83 EPS for the current fiscal year.
In other Workday news, CEO Aneel Bhusri sold 8,816 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $101.65, for a total transaction of $896,146.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James P. Shaughnessy sold 1,959 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $101.71, for a total transaction of $199,249.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,575,678 shares of company stock valued at $170,655,114. 37.71% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in WDAY. Prudential Financial Inc. grew its position in shares of Workday by 18.2% during the 1st quarter. Prudential Financial Inc. now owns 4,030 shares of the software maker’s stock valued at $336,000 after acquiring an additional 620 shares during the period. Teachers Advisors LLC grew its position in shares of Workday by 3.2% during the 1st quarter. Teachers Advisors LLC now owns 174,354 shares of the software maker’s stock valued at $14,520,000 after acquiring an additional 5,373 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Workday by 6.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 183,437 shares of the software maker’s stock valued at $15,277,000 after acquiring an additional 10,312 shares during the period. State Street Corp grew its position in shares of Workday by 10.6% during the 1st quarter. State Street Corp now owns 2,288,030 shares of the software maker’s stock valued at $190,552,000 after acquiring an additional 219,326 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Workday by 6.7% during the 1st quarter. AQR Capital Management LLC now owns 63,414 shares of the software maker’s stock valued at $5,281,000 after acquiring an additional 4,005 shares during the period. Institutional investors and hedge funds own 67.08% of the company’s stock.
Workday Company Profile
Workday, Inc is a provider of enterprise cloud applications for finance and human resources. The Company delivers financial management, human capital management and analytics applications designed for various companies, educational institutions and government agencies. As part of its applications, the Company provides embedded analytics that capture the content and context of everyday business events, facilitating informed decision-making from wherever users are working.
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