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

Workday (NASDAQ:WDAY)‘s stock had its “buy” rating restated by equities researchers at Guggenheim in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $285.00 target price on the software maker’s stock. Guggenheim’s price objective suggests a potential upside of 32.35% from the stock’s previous close.

Several other research analysts also recently commented on WDAY. Citizens Jmp reaffirmed a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research report on Wednesday. KeyCorp cut their target price on shares of Workday from $285.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday. Wells Fargo & Company decreased their price target on shares of Workday from $300.00 to $290.00 and set an “overweight” rating on the stock in a research report on Wednesday. Raymond James Financial began coverage on shares of Workday in a research report on Friday, November 21st. They set a “market perform” rating for the company. Finally, Bank of America decreased their target price on Workday from $295.00 to $278.00 and set a “buy” rating on the stock in a research report on Tuesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $282.70.

Workday Stock Performance

NASDAQ:WDAY opened at $215.34 on Wednesday. The firm has a market capitalization of $57.50 billion, a PE ratio of 90.48, a PEG ratio of 2.67 and a beta of 1.11. Workday has a 1 year low of $205.33 and a 1 year high of $294.00. The company has a current ratio of 1.83, a quick ratio of 2.10 and a debt-to-equity ratio of 0.34. The firm’s fifty day simple moving average is $233.59 and its 200 day simple moving average is $236.32.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.15. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.89 earnings per share. On average, sell-side analysts anticipate that Workday will post 2.63 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 78,564 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $220.12, for a total transaction of $17,293,507.68. Following the completion of the transaction, the insider owned 102,997 shares in the company, valued at $22,671,699.64. This trade represents a 43.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $237.52, for a total value of $1,484,500.00. Following the completion of the sale, the chief executive officer directly owned 20,222 shares in the company, valued at approximately $4,803,129.44. This represents a 23.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 264,933 shares of company stock worth $61,475,760 in the last 90 days. 19.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Brighton Jones LLC increased its holdings in Workday by 230.2% during the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after purchasing an additional 2,792 shares in the last quarter. Cetera Investment Advisers boosted its stake in Workday by 1.3% in the first quarter. Cetera Investment Advisers now owns 48,944 shares of the software maker’s stock worth $11,430,000 after purchasing an additional 610 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Workday by 11.4% during the first quarter. LPL Financial LLC now owns 188,665 shares of the software maker’s stock worth $43,693,000 after purchasing an additional 19,372 shares during the last quarter. Meeder Advisory Services Inc. increased its stake in shares of Workday by 17.4% in the first quarter. Meeder Advisory Services Inc. now owns 5,318 shares of the software maker’s stock valued at $1,242,000 after buying an additional 787 shares in the last quarter. Finally, TCTC Holdings LLC raised its holdings in shares of Workday by 158.8% in the first quarter. TCTC Holdings LLC now owns 352 shares of the software maker’s stock valued at $82,000 after buying an additional 216 shares during the last quarter. 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.