Guggenheim Upgrades Workday (NASDAQ:WDAY) to Neutral

Workday (NASDAQ:WDAY) was upgraded by investment analysts at Guggenheim from a “sell” rating to a “neutral” rating in a report released on Monday, MarketBeat.com reports.

Several other equities research analysts also recently commented on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Friday, September 13th. Needham & Company LLC reissued a “buy” rating and set a $300.00 price objective on shares of Workday in a report on Monday, November 25th. Scotiabank initiated coverage on Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price objective for the company. StockNews.com raised Workday from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Oppenheimer reissued an “outperform” rating and issued a $300.00 price target on shares of Workday in a research report on Tuesday, December 3rd. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $291.36.

Workday Trading Down 1.8 %

WDAY opened at $249.68 on Monday. The stock has a market cap of $66.41 billion, a PE ratio of 41.41, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday has a twelve month low of $199.81 and a twelve month high of $311.28. The company has a fifty day moving average of $261.60 and a 200-day moving average of $245.37.

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

Insider Activity

In other news, insider Richard Harry Sauer sold 3,677 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $251.90, for a total transaction of $926,236.30. Following the completion of the transaction, the insider now owns 79,576 shares of the company’s stock, valued at approximately $20,045,194.40. The trade was a 4.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $253.87, for a total transaction of $14,216,720.00. Following the completion of the sale, the insider now directly owns 116,000 shares in the company, valued at $29,448,920. This represents a 32.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 370,085 shares of company stock worth $95,380,557 in the last three months. Corporate insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. One Wealth Capital Management LLC bought a new position in Workday during the fourth quarter valued at approximately $715,000. Diversified Trust Co lifted its stake in Workday by 29.5% in the fourth quarter. Diversified Trust Co now owns 8,474 shares of the software maker’s stock worth $2,187,000 after purchasing an additional 1,928 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in Workday during the fourth quarter valued at about $510,000. Nordea Investment Management AB lifted its stake in shares of Workday by 20.5% in the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after acquiring an additional 119,769 shares during the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in Workday during the 4th quarter valued at about $1,442,000. Institutional investors own 89.81% of the company’s stock.

About Workday

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.