Workday (NASDAQ:WDAY) Given “Neutral” Rating at Guggenheim

Guggenheim restated their neutral rating on shares of Workday (NASDAQ:WDAY) in a research note issued to investors on Wednesday morning,Benzinga reports.

Several other research analysts also recently commented on the company. Loop Capital boosted their target price on Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday, February 19th. Citigroup reduced their price target on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. JMP Securities restated a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Thursday, February 6th. Mizuho boosted their price target on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, BNP Paribas upgraded Workday to a “strong-buy” rating in a report on Friday, February 14th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $301.11.

Workday Stock Up 6.2 %

Shares of NASDAQ WDAY opened at $271.09 on Wednesday. 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 cap of $72.11 billion, a price-to-earnings ratio of 44.96, a PEG ratio of 3.55 and a beta of 1.35. Workday has a 12 month low of $199.81 and a 12 month high of $298.50. The stock has a 50-day moving average price of $260.01 and a two-hundred day moving average price of $254.24.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. As a group, analysts forecast that Workday will post 2.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Wayne A.I. Frederick sold 1,829 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the transaction, the director now directly owns 6,845 shares of the company’s stock, valued at $1,732,401.05. This represents a 21.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 438,819 shares of company stock worth $113,142,592. Corporate insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

Institutional investors have recently modified their holdings of the company. Bristlecone Advisors LLC raised its position in shares of Workday by 49.6% during the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock worth $754,000 after purchasing an additional 968 shares during the period. Sanctuary Advisors LLC raised its position in shares of Workday by 7.2% during the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after purchasing an additional 1,978 shares during the period. Grafton Street Partners Fund LP acquired a new position in shares of Workday during the third quarter worth approximately $4,424,000. ICICI Prudential Asset Management Co Ltd raised its position in shares of Workday by 32.4% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after purchasing an additional 7,802 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after purchasing an additional 119,769 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

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.