Workday (NASDAQ:WDAY) Upgraded at Guggenheim

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

Several other equities analysts have also weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price objective on shares of Workday in a research report on Monday, November 25th. Citigroup cut their price target on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Bank of America decreased their price objective on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Canaccord Genuity Group restated a “buy” rating and set a $300.00 target price on shares of Workday in a report on Friday, September 13th. Finally, Scotiabank began coverage on Workday in a research note on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price target for the company. 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 an average rating of “Moderate Buy” and a consensus target price of $292.25.

Workday Trading Up 2.0 %

Workday stock opened at $254.69 on Monday. Workday has a 12 month low of $199.81 and a 12 month high of $311.28. 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 stock has a market cap of $67.75 billion, a P/E ratio of 42.24, a P/E/G ratio of 5.04 and a beta of 1.34. The company’s fifty day simple moving average is $261.93 and its 200-day simple moving average is $245.44.

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

Insider Transactions at Workday

In other news, Director Wayne A.I. Frederick sold 1,828 shares of Workday stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $241.85, for a total transaction of $442,101.80. Following the sale, the director now directly owns 8,674 shares in the company, valued at approximately $2,097,806.90. The trade was a 17.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard Harry Sauer sold 3,677 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $251.90, for a total transaction of $926,236.30. Following the completion of the sale, the insider now directly owns 79,576 shares in the company, valued at approximately $20,045,194.40. The trade was a 4.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 370,085 shares of company stock valued at $95,380,557. 20.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Workday

Hedge funds and other institutional investors have recently modified their holdings of the stock. Douglas Lane & Associates LLC lifted its holdings in Workday by 42.2% during the 4th quarter. Douglas Lane & Associates LLC now owns 238,288 shares of the software maker’s stock valued at $61,485,000 after purchasing an additional 70,755 shares during the last quarter. Fulton Bank N.A. increased its holdings in shares of Workday by 1.3% during the fourth quarter. Fulton Bank N.A. now owns 3,696 shares of the software maker’s stock worth $954,000 after buying an additional 48 shares in the last quarter. One Wealth Capital Management LLC acquired a new stake in shares of Workday during the fourth quarter worth approximately $715,000. Diversified Trust Co raised its stake in shares of Workday by 29.5% in the fourth quarter. Diversified Trust Co now owns 8,474 shares of the software maker’s stock valued at $2,187,000 after acquiring an additional 1,928 shares during the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in shares of Workday in the 4th quarter worth approximately $510,000. 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.