Workday’s (WDAY) “Sell” Rating Reaffirmed at Guggenheim

Guggenheim restated their sell rating on shares of Workday (NASDAQ:WDAY) in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a $190.00 price target on the software maker’s stock.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company cut their target price on shares of Workday from $325.00 to $275.00 and set an overweight rating for the company in a research note on Friday, June 21st. The Goldman Sachs Group reduced their target price on Workday from $310.00 to $300.00 and set a buy rating on the stock in a report on Friday, May 24th. Stifel Nicolaus dropped their price target on Workday from $290.00 to $250.00 and set a hold rating for the company in a research note on Friday, May 24th. Bank of America reduced their price objective on Workday from $330.00 to $310.00 and set a buy rating on the stock in a research note on Thursday, May 16th. Finally, TheStreet upgraded Workday from a c rating to a b- rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $282.11.

Workday Price Performance

Shares of Workday stock opened at $217.38 on Tuesday. The company has a market capitalization of $57.61 billion, a price-to-earnings ratio of 39.17, a PEG ratio of 5.53 and a beta of 1.33. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37. The stock’s 50-day simple moving average is $234.52 and its 200-day simple moving average is $264.38. Workday has a 52 week low of $202.01 and a 52 week high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. Workday had a return on equity of 5.78% and a net margin of 19.66%. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the previous year, the firm earned $0.16 EPS. The firm’s revenue was up 18.1% compared to the same quarter last year. As a group, analysts expect that Workday will post 2.12 earnings per share for the current fiscal year.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the transaction, the insider now directly owns 730,000 shares of the company’s stock, valued at $159,563,400. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $218.58, for a total value of $12,240,480.00. Following the completion of the sale, the insider now directly owns 730,000 shares in the company, valued at approximately $159,563,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder David A. Duffield sold 57,000 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $209.17, for a total value of $11,922,690.00. Following the transaction, the insider now owns 786,000 shares in the company, valued at approximately $164,407,620. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 448,713 shares of company stock worth $109,278,793. Insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

Several hedge funds have recently modified their holdings of WDAY. Vanguard Group Inc. lifted its holdings in Workday by 2.2% during the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after buying an additional 324,540 shares during the period. Norges Bank bought a new position in shares of Workday in the 4th quarter worth $1,491,149,000. Wellington Management Group LLP lifted its stake in shares of Workday by 37.4% during the 3rd quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock worth $1,109,348,000 after purchasing an additional 1,406,153 shares during the last quarter. Sustainable Growth Advisers LP boosted its position in Workday by 9.7% during the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after purchasing an additional 301,463 shares in the last quarter. Finally, Morgan Stanley grew its stake in Workday by 47.0% in the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after purchasing an additional 872,288 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

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.