Workday (NASDAQ:WDAY) Given “Neutral” Rating at Guggenheim

Guggenheim reissued their neutral rating on shares of Workday (NASDAQ:WDAY) in a research note published on Friday morning,Benzinga reports.

Several other research analysts have also recently weighed in on WDAY. KeyCorp reduced their price target on Workday from $335.00 to $325.00 and set an “overweight” rating for the company in a research report on Friday. BMO Capital Markets raised their price objective on shares of Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 target price on shares of Workday in a research note on Wednesday, May 21st. Westpark Capital increased their price target on shares of Workday from $315.00 to $328.00 and gave the stock a “buy” rating in a report on Friday. Finally, UBS Group raised their price target on shares of Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and a consensus target price of $293.54.

Workday Stock Performance

WDAY opened at $238.01 on Friday. The company has a market cap of $63.31 billion, a P/E ratio of 39.47, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $242.57 and its 200-day moving average price is $254.19. Workday has a 52-week low of $199.81 and a 52-week high of $294.00.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.22. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.74 EPS. As a group, equities analysts anticipate that Workday will post 2.63 EPS for the current fiscal year.

Insider Activity

In other news, insider Sayan Chakraborty sold 6,056 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the transaction, the insider now directly owns 111,324 shares in the company, valued at approximately $29,556,522. The trade was a 5.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 66,455 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total value of $17,246,401.60. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,729,781.44. This trade represents a 39.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 321,724 shares of company stock valued at $77,976,126. 19.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Roxbury Financial LLC acquired a new stake in Workday in the fourth quarter worth approximately $25,000. Crews Bank & Trust bought a new position in Workday during the fourth quarter valued at about $26,000. Avion Wealth lifted its holdings in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares during the last quarter. Cornerstone Planning Group LLC grew its position in Workday by 76.1% in the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker’s stock worth $28,000 after buying an additional 54 shares during the last quarter. Finally, Dagco Inc. bought a new stake in shares of Workday during the 1st quarter worth $31,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Company Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.