Guggenheim Reiterates "Neutral" Rating for Workday (NASDAQ:WDAY)

Workday (NASDAQ:WDAY - Get Free Report)'s stock had its "neutral" rating reiterated by Guggenheim in a research report issued on Friday,Benzinga reports.

WDAY has been the topic of several other reports. JMP Securities reissued a "market outperform" rating and set a $315.00 price target on shares of Workday in a research note on Friday. JPMorgan Chase & Co. reduced their price objective on Workday from $310.00 to $295.00 and set an "overweight" rating on the stock in a research note on Friday. Canaccord Genuity Group boosted their target price on Workday from $300.00 to $330.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Scotiabank lowered their price objective on Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. Finally, Oppenheimer raised their target price on shares of Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $293.38.

Workday Stock Down 11.1%

Workday stock traded down $30.13 during midday trading on Friday, reaching $241.94. The stock had a trading volume of 4,220,766 shares, compared to its average volume of 2,581,370. The company has a fifty day moving average price of $242.85 and a two-hundred day moving average price of $254.22. Workday has a 12 month low of $199.81 and a 12 month high of $294.00. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $64.36 billion, a P/E ratio of 40.07, a PEG ratio of 3.55 and a beta of 1.30.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping the consensus estimate of $2.01 by $0.22. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company's quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.74 earnings per share. As a group, equities analysts expect that Workday will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total value of $1,607,868.00. Following the completion of the sale, the insider now directly owns 111,324 shares of the company's stock, valued at $29,556,522. This represents a 5.16% 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, CAO Mark S. Garfield sold 497 shares of the firm's stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total transaction of $112,595.35. Following the sale, the chief accounting officer now owns 34,385 shares in the company, valued at $7,789,921.75. The trade was a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 321,724 shares of company stock valued at $77,976,126 over the last 90 days. Company insiders own 19.31% of the company's stock.

Hedge Funds Weigh In On Workday

A number of hedge funds have recently made changes to their positions in WDAY. Vanguard Group Inc. grew its holdings in Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock valued at $5,197,447,000 after buying an additional 4,517,272 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in Workday during the fourth quarter valued at $658,735,000. Norges Bank bought a new stake in Workday in the 4th quarter valued at $645,710,000. Parnassus Investments LLC lifted its stake in Workday by 562.2% in the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock worth $631,589,000 after purchasing an additional 2,078,097 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Workday during the 1st quarter valued at about $456,341,000. 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.

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