Workday (NASDAQ:WDAY) Upgraded by Guggenheim to “Neutral” Rating

Guggenheim upgraded shares of Workday (NASDAQ:WDAY) from a sell rating to a neutral rating in a research note released on Monday, Marketbeat.com reports.

Several other equities analysts have also issued reports on WDAY. Mizuho upped their price target on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Needham & Company LLC restated a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Monday, November 25th. Morgan Stanley lifted their price target on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Royal Bank of Canada increased their price objective on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Finally, Citigroup lowered their target price on shares of Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Seven analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and an average price target of $292.25.

Workday Trading Up 2.0 %

WDAY opened at $254.69 on Monday. Workday has a 1-year low of $199.81 and a 1-year high of $311.28. The stock has a market capitalization of $67.75 billion, a PE ratio of 42.24, a PEG ratio of 5.04 and a beta of 1.34. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $261.93 and a two-hundred day moving average price of $245.44.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business posted $0.47 earnings per share. Workday’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, equities analysts anticipate that Workday will post 2.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Wayne A.I. Frederick sold 1,828 shares of Workday stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the sale, the director now directly owns 8,674 shares in the company, valued at $2,097,806.90. This trade represents a 17.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the transaction, the insider now owns 281,000 shares of the company’s stock, valued at $68,004,810. The trade was a 16.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 370,085 shares of company stock valued at $95,380,557. Company insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new position in shares of Workday during the 3rd quarter worth approximately $26,000. Goodman Advisory Group LLC acquired a new position in Workday during the second quarter worth $35,000. Meeder Asset Management Inc. raised its position in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 shares in the last quarter. Asset Dedication LLC acquired a new stake in Workday in the second quarter valued at $36,000. Finally, New Millennium Group LLC grew its position in shares of Workday by 177.4% in the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock valued at $36,000 after acquiring an additional 94 shares during the period. Institutional investors 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.