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

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

WDAY has been the topic of a number of other research reports. Mizuho upped their target price on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Royal Bank of Canada upped their price target on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Oppenheimer reissued an “outperform” rating and set a $300.00 price objective on shares of Workday in a research note on Tuesday, December 3rd. The Goldman Sachs Group upped their target price on Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Loop Capital dropped their price target on Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $291.36.

Workday Price Performance

Workday stock opened at $257.80 on Monday. The firm has a market capitalization of $68.57 billion, a P/E ratio of 42.75, a PEG ratio of 5.04 and a beta of 1.34. Workday has a one year low of $199.81 and a one year high of $311.28. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The business has a fifty day moving average price of $261.00 and a 200-day moving average price of $244.88.

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

Insider Buying and Selling at Workday

In related news, Director Wayne A.I. Frederick sold 1,828 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the transaction, the director now owns 8,674 shares in the company, valued at $2,097,806.90. The trade was a 17.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Richard Harry Sauer sold 3,134 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total value of $738,934.52. Following the transaction, the insider now directly owns 85,795 shares of the company’s stock, valued at $20,228,745.10. The trade was a 3.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 305,463 shares of company stock worth $78,927,008. 20.00% of the stock is currently owned by insiders.

Institutional Trading of Workday

Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its stake in shares of Workday by 42.8% during the 2nd quarter. Principal Financial Group Inc. now owns 12,275 shares of the software maker’s stock valued at $2,744,000 after purchasing an additional 3,679 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in Workday by 14.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 22,468 shares of the software maker’s stock valued at $5,023,000 after acquiring an additional 2,888 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Workday by 41,800.0% during the 2nd quarter. Larson Financial Group LLC now owns 419 shares of the software maker’s stock worth $94,000 after acquiring an additional 418 shares during the period. Lake Street Advisors Group LLC raised its position in shares of Workday by 28.9% in the 2nd quarter. Lake Street Advisors Group LLC now owns 1,013 shares of the software maker’s stock worth $226,000 after acquiring an additional 227 shares in the last quarter. Finally, Asset Dedication LLC purchased a new position in shares of Workday in the 2nd quarter valued at approximately $36,000. 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.