Workday’s (WDAY) Neutral Rating Reiterated at Guggenheim

Workday (NASDAQ:WDAY)‘s stock had its “neutral” rating reiterated by stock analysts at Guggenheim in a report released on Wednesday,Benzinga reports.

Other equities analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and increased their price objective for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. Bank of America lowered their price target on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. The Goldman Sachs Group increased their target price on Workday from $300.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 target price on shares of Workday in a research report on Wednesday. Finally, Piper Sandler increased their price target on shares of Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $302.14.

Workday Stock Down 3.9 %

WDAY stock opened at $260.57 on Wednesday. Workday has a one year low of $199.81 and a one year high of $298.50. The firm has a market cap of $69.31 billion, a PE ratio of 43.21, a PEG ratio of 3.55 and a beta of 1.35. The firm’s 50 day moving average price is $259.89 and its 200-day moving average price is $254.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY) last announced its quarterly 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). Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. On average, equities research analysts anticipate that Workday will post 2.63 EPS for the current year.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total value of $15,692,670.00. Following the completion of the sale, the insider now directly owns 284,000 shares of the company’s stock, valued at $78,188,040. This represents a 16.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wayne A.I. Frederick sold 1,829 shares of the firm’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 value of $462,901.61. Following the transaction, the director now owns 6,845 shares in the company, valued at $1,732,401.05. This represents a 21.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 433,321 shares of company stock worth $111,763,803 over the last 90 days. Corporate insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Workday in the fourth quarter valued at about $658,735,000. Norges Bank acquired a new stake in shares of Workday during the fourth quarter worth about $645,710,000. Parnassus Investments LLC grew its holdings in shares of Workday by 562.2% during the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after buying an additional 2,078,097 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Workday by 61.9% in the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock valued at $1,193,105,000 after acquiring an additional 1,772,223 shares during the period. 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.