Workday (NASDAQ:WDAY) Receives “Neutral” Rating from Guggenheim

Workday (NASDAQ:WDAY)‘s stock had its “neutral” rating restated by research analysts at Guggenheim in a report released on Wednesday,Benzinga reports.

Several other equities analysts have also recently commented on WDAY. StockNews.com cut shares of Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Mizuho increased their price objective on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Scotiabank started coverage on Workday in a research note on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price for the company. Citigroup reduced their price target on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Royal Bank of Canada boosted their price target on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $296.11.

Workday Stock Performance

Shares of WDAY stock traded up $17.94 on Wednesday, hitting $273.16. 3,347,088 shares of the stock traded hands, compared to its average volume of 2,243,814. The company has a market capitalization of $72.66 billion, a PE ratio of 45.43, a PEG ratio of 3.55 and a beta of 1.35. The company’s fifty day moving average is $259.97 and its 200 day moving average is $254.12. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday has a 1-year low of $199.81 and a 1-year high of $304.79.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. On average, equities research analysts predict that Workday will post 2.63 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Sayan Chakraborty sold 5,498 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the sale, the insider now owns 121,100 shares of the company’s stock, valued at approximately $30,369,458. This represents a 4.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the transaction, the chief executive officer now directly owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock valued at $113,142,592 in the last ninety days. 20.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bristlecone Advisors LLC raised its holdings in Workday by 49.6% in the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock worth $754,000 after purchasing an additional 968 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of Workday by 7.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after purchasing an additional 1,978 shares during the period. Grafton Street Partners Fund LP purchased a new stake in shares of Workday in the third quarter worth approximately $4,424,000. ICICI Prudential Asset Management Co Ltd lifted its position in shares of Workday by 32.4% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after purchasing an additional 7,802 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after acquiring an additional 119,769 shares during the period. 89.81% of the stock is owned by institutional investors.

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.