Workday’s (WDAY) Sell Rating Reiterated at Guggenheim

Guggenheim reissued their sell rating on shares of Workday (NASDAQ:WDAY) in a report issued on Tuesday, Benzinga reports. The firm currently has a $190.00 price objective on the software maker’s stock.

Other equities research analysts also recently issued research reports about the company. Evercore ISI dropped their target price on Workday from $350.00 to $300.00 and set an outperform rating for the company in a report on Friday, May 24th. Jefferies Financial Group dropped their price objective on shares of Workday from $350.00 to $330.00 and set a buy rating for the company in a research note on Friday, May 24th. Wells Fargo & Company cut their price objective on shares of Workday from $325.00 to $275.00 and set an overweight rating for the company in a report on Friday, June 21st. JMP Securities reaffirmed a market outperform rating and set a $315.00 target price on shares of Workday in a report on Friday, May 24th. Finally, Stifel Nicolaus dropped their price target on shares of Workday from $290.00 to $250.00 and set a hold rating for the company in a research report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, Workday has an average rating of Moderate Buy and an average price target of $282.11.

Workday Trading Up 0.1 %

Shares of WDAY stock opened at $223.56 on Tuesday. Workday has a 12-month low of $202.01 and a 12-month high of $311.28. The company has a market capitalization of $59.24 billion, a PE ratio of 40.28, a price-to-earnings-growth ratio of 5.47 and a beta of 1.33. The firm has a 50 day moving average price of $232.50 and a two-hundred day moving average price of $263.40. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37.

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

Insider Activity at Workday

In other news, insider Richard Harry Sauer sold 8,447 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $268.21, for a total value of $2,265,569.87. Following the completion of the transaction, the insider now directly owns 66,356 shares in the company, valued at approximately $17,797,342.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Richard Harry Sauer sold 8,447 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $268.21, for a total transaction of $2,265,569.87. Following the sale, the insider now directly owns 66,356 shares in the company, valued at $17,797,342.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 786,000 shares of the company’s stock, valued at approximately $164,407,620. The disclosure for this sale can be found here. Insiders sold a total of 448,713 shares of company stock valued at $109,278,793 in the last quarter. Insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Institutional investors have recently modified their holdings of the business. Beacon Capital Management LLC boosted its holdings in Workday by 333.3% in the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after acquiring an additional 70 shares during the last quarter. VisionPoint Advisory Group LLC boosted its stake in shares of Workday by 215.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after purchasing an additional 84 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of Workday in the 1st quarter valued at $27,000. Exchange Traded Concepts LLC increased its position in shares of Workday by 1,750.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after buying an additional 105 shares during the period. Finally, Sound Income Strategies LLC raised its stake in Workday by 74.2% during the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after buying an additional 49 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

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.