Workday’s (WDAY) Neutral Rating Reiterated at Guggenheim

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

Other analysts also recently issued research reports about the stock. Scotiabank started coverage on shares of Workday in a report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price target on the stock. Wells Fargo & Company raised their price target on shares of Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday. Piper Sandler raised their price target on shares of Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday. Barclays dropped their price objective on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Finally, Bank of America dropped their price objective on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $302.14.

Workday Stock Performance

Shares of WDAY stock opened at $263.34 on Wednesday. The company’s 50-day moving average is $259.69 and its 200 day moving average is $254.65. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The company has a market capitalization of $70.05 billion, a price-to-earnings ratio of 43.67, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35. Workday has a one year low of $199.81 and a one year high of $296.44.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Sell-side analysts expect that Workday will post 2.63 EPS for the current fiscal year.

Insider Activity

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $253.86, for a total value 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 trade represents a 30.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 70,090 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,215,826.41. This trade represents a 40.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 433,321 shares of company stock worth $111,763,803 over the last quarter. Insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Park Square Financial Group LLC purchased a new position in shares of Workday in the fourth quarter valued at $117,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Workday in the fourth quarter valued at $117,259,000. Azzad Asset Management Inc. ADV grew its holdings in shares of Workday by 0.8% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 9,187 shares of the software maker’s stock valued at $2,371,000 after purchasing an additional 71 shares in the last quarter. Jefferies Financial Group Inc. grew its holdings in shares of Workday by 8.1% in the fourth quarter. Jefferies Financial Group Inc. now owns 10,326 shares of the software maker’s stock valued at $2,664,000 after purchasing an additional 770 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Workday by 16.7% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 1,499 shares of the software maker’s stock valued at $387,000 after purchasing an additional 215 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other 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.