Workday (NASDAQ:WDAY) Earns “Neutral” Rating from Guggenheim

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

Other research analysts also recently issued research reports about the company. Mizuho upped their price objective on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Morgan Stanley downgraded Workday from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $330.00 to $275.00 in a research note on Wednesday, February 19th. Bank of America reduced their price objective on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Needham & Company LLC restated a “buy” rating and issued a $300.00 price objective on shares of Workday in a research note on Wednesday. Finally, Scotiabank began 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. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $301.11.

Workday Trading Up 6.2 %

NASDAQ WDAY opened at $271.09 on Wednesday. The firm has a market capitalization of $72.11 billion, a P/E ratio of 44.96, a PEG ratio of 3.55 and a beta of 1.35. The business has a fifty day simple moving average of $260.01 and a 200 day simple moving average of $254.24. Workday has a 12 month low of $199.81 and a 12 month high of $298.50. 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 released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The company had revenue of $2.21 billion during 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%. On average, analysts predict that Workday will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In other Workday news, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total value of $462,901.61. Following the sale, the director now owns 6,845 shares of the company’s stock, valued at $1,732,401.05. This trade represents a 21.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the sale, the chief accounting officer now directly owns 35,408 shares in the company, valued at approximately $8,789,681.92. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 438,819 shares of company stock valued at $113,142,592 in the last 90 days. Corporate insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Several institutional investors and hedge funds have recently modified their holdings of WDAY. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Workday by 28.4% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 1,479 shares of the software maker’s stock valued at $361,000 after buying an additional 327 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Workday by 1,265.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 44,081 shares of the software maker’s stock valued at $10,774,000 after buying an additional 40,853 shares in the last quarter. Pallas Capital Advisors LLC raised its holdings in shares of Workday by 20.8% during the 3rd quarter. Pallas Capital Advisors LLC now owns 4,560 shares of the software maker’s stock valued at $1,080,000 after buying an additional 786 shares in the last quarter. abrdn plc raised its holdings in shares of Workday by 16.3% during the 3rd quarter. abrdn plc now owns 279,856 shares of the software maker’s stock valued at $68,400,000 after buying an additional 39,289 shares in the last quarter. Finally, Fortitude Family Office LLC raised its holdings in shares of Workday by 713.6% during the 3rd quarter. Fortitude Family Office LLC now owns 179 shares of the software maker’s stock valued at $44,000 after buying an additional 157 shares in the last quarter. Hedge funds and other 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.