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

Guggenheim upgraded shares of Workday (NASDAQ:WDAY) from a sell rating to a neutral rating in a report issued on Monday, MarketBeat.com reports.

A number of other equities research analysts have also recently issued reports on WDAY. Mizuho boosted their target price on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Bank of America dropped their price objective on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. BMO Capital Markets reaffirmed an “outperform” rating and set a $300.00 target price on shares of Workday in a report on Wednesday, September 18th. Citigroup cut their price objective on shares of Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company upped their target price on shares of Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $291.36.

Workday Stock Performance

NASDAQ:WDAY opened at $254.14 on Monday. Workday has a 1 year low of $199.81 and a 1 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 simple moving average of $261.38 and a two-hundred day simple moving average of $245.16. The company has a market capitalization of $67.60 billion, a P/E ratio of 42.15, a P/E/G ratio of 5.04 and a beta of 1.34.

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

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 70,003 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total value of $17,584,753.60. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $25,872,846.40. This trade represents a 40.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sayan Chakraborty sold 5,498 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $250.78, for a total value of $1,378,788.44. Following the transaction, the insider now owns 121,100 shares of the company’s stock, valued at approximately $30,369,458. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 304,158 shares of company stock valued at $78,650,975. 20.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Workday

Institutional investors have recently bought and sold shares of the stock. CWA Asset Management Group LLC purchased a new position in shares of Workday in the 4th quarter valued at approximately $510,000. Nordea Investment Management AB lifted its position in Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after buying an additional 119,769 shares during the period. Everence Capital Management Inc. purchased a new position in Workday during the fourth quarter valued at $1,442,000. GAMMA Investing LLC grew its position in shares of Workday by 20.9% in the 4th quarter. GAMMA Investing LLC now owns 1,234 shares of the software maker’s stock worth $318,000 after buying an additional 213 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Workday by 45.0% during the 3rd quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker’s stock valued at $4,349,000 after acquiring an additional 5,519 shares during the period. 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.