Workday (NASDAQ:WDAY) Price Target Raised to $169.00 at Guggenheim

Workday (NASDAQ:WDAY) had its price target boosted by Guggenheim from $142.00 to $169.00 in a research report sent to investors on Friday, Marketbeat.com reports. The brokerage currently has a sell rating on the software maker’s stock.

A number of other research firms have also commented on WDAY. Robert W. Baird raised their price objective on Workday from $245.00 to $260.00 and gave the stock an outperform rating in a research note on Friday. UBS Group raised their price objective on Workday from $220.00 to $240.00 and gave the stock a neutral rating in a research note on Thursday, August 17th. Mizuho raised their price objective on Workday from $250.00 to $260.00 and gave the stock a buy rating in a research note on Friday. Loop Capital raised their price objective on Workday from $210.00 to $235.00 and gave the stock a hold rating in a research note on Friday. Finally, Oppenheimer raised their price objective on Workday from $240.00 to $255.00 and gave the stock an outperform rating in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, Workday currently has an average rating of Moderate Buy and a consensus price target of $244.46.

Workday Price Performance

Workday stock opened at $236.97 on Friday. Workday has a 12 month low of $128.72 and a 12 month high of $240.18. The stock’s 50 day moving average is $226.34 and its 200-day moving average is $205.69. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $61.85 billion, a price-to-earnings ratio of -493.69, a PEG ratio of 11.07 and a beta of 1.27.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, August 24th. The software maker reported $1.43 EPS for the quarter, beating the consensus estimate of $1.26 by $0.17. Workday had a positive return on equity of 2.15% and a negative net margin of 1.81%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the business earned ($0.16) earnings per share. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities research analysts expect that Workday will post 0.74 EPS for the current year.

Insider Buying and Selling

In related news, Director George J. Still, Jr. sold 5,000 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $204.15, for a total value of $1,020,750.00. Following the transaction, the director now directly owns 159,903 shares in the company, valued at approximately $32,644,197.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director George J. Still, Jr. sold 5,000 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $204.15, for a total value of $1,020,750.00. Following the completion of the sale, the director now directly owns 159,903 shares of the company’s stock, valued at approximately $32,644,197.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sayan Chakraborty sold 329 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $212.37, for a total value of $69,869.73. Following the sale, the insider now directly owns 146,520 shares of the company’s stock, valued at $31,116,452.40. The disclosure for this sale can be found here. Insiders have sold a total of 170,957 shares of company stock worth $36,069,800 in the last ninety days. Corporate insiders own 21.09% of the company’s stock.

Institutional Investors Weigh In On Workday

Several large investors have recently made changes to their positions in the business. Ballentine Partners LLC lifted its stake in shares of Workday by 9.7% during the 1st quarter. Ballentine Partners LLC now owns 1,502 shares of the software maker’s stock valued at $310,000 after buying an additional 133 shares in the last quarter. Manchester Capital Management LLC purchased a new stake in shares of Workday during the 1st quarter valued at approximately $34,000. Brevan Howard Capital Management LP purchased a new stake in shares of Workday during the 4th quarter valued at approximately $878,000. Lindbrook Capital LLC lifted its stake in shares of Workday by 18.5% during the 1st quarter. Lindbrook Capital LLC now owns 398 shares of the software maker’s stock valued at $82,000 after buying an additional 62 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Workday by 13.0% during the 1st quarter. Signaturefd LLC now owns 2,908 shares of the software maker’s stock valued at $601,000 after buying an additional 334 shares in the last quarter. 67.80% of the stock is owned by hedge funds and other 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, and to manage their business and operations. The company offers a suite of financial management applications, which enable chief financial officers 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.