Workday (NASDAQ:WDAY) Stock Rating Upgraded by Guggenheim

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

A number of other analysts have also recently commented on WDAY. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price target on shares of Workday in a research report on Monday, November 25th. Wells Fargo & Company boosted their target price on Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. The Goldman Sachs Group raised their price target on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Scotiabank initiated coverage on shares of Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price target on the stock. Finally, Royal Bank of Canada raised their price objective on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $291.36.

Workday Stock Down 1.8 %

Shares of NASDAQ WDAY opened at $249.68 on Monday. Workday has a 12 month low of $199.81 and a 12 month high of $311.28. The firm has a market capitalization 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 firm has a fifty day simple moving average of $261.60 and a two-hundred day simple moving average of $245.37. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

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

Insider Transactions at Workday

In other news, insider Richard Harry Sauer sold 3,677 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $251.90, for a total value of $926,236.30. Following the completion of the sale, the insider now directly owns 79,576 shares of the company’s stock, valued at $20,045,194.40. This represents a 4.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Wayne A.I. Frederick sold 1,828 shares of the firm’s stock in a transaction on 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 owns 8,674 shares in the company, valued at $2,097,806.90. The trade was a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 370,085 shares of company stock worth $95,380,557 in the last 90 days. 20.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Workday

Institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its position in shares of Workday by 79.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after purchasing an additional 1,016,394 shares in the last quarter. Two Sigma Advisers LP grew its holdings in Workday by 1,094.2% during the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after buying an additional 562,400 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after buying an additional 480,459 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new position in shares of Workday in the third quarter worth $78,003,000. Finally, D1 Capital Partners L.P. grew its stake in Workday by 152.1% during the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock valued at $115,804,000 after acquiring an additional 312,500 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

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.