Guggenheim Reiterates Sell Rating for Workday (NASDAQ:WDAY)

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

WDAY has been the subject of several other research reports. Wells Fargo & Company decreased their target price on shares of Workday from $325.00 to $275.00 and set an overweight rating for the company in a research report on Friday, June 21st. JMP Securities restated a market outperform rating and issued a $315.00 target price on shares of Workday in a research report on Friday, May 24th. Stifel Nicolaus cut their target price on Workday from $290.00 to $250.00 and set a hold rating on the stock in a research note on Friday, May 24th. Citigroup decreased their price target on Workday from $293.00 to $255.00 and set a neutral rating for the company in a research note on Friday, May 24th. Finally, KeyCorp cut their price objective on shares of Workday from $330.00 to $275.00 and set an overweight rating on the stock in a research note on Friday, May 24th. One 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $282.11.

Workday Price Performance

Shares of NASDAQ WDAY opened at $223.56 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $59.24 billion, a price-to-earnings ratio of 40.28, a price-to-earnings-growth ratio of 5.47 and a beta of 1.33. Workday has a twelve month low of $202.01 and a twelve month high of $311.28. The business has a 50 day simple moving average of $232.50 and a 200-day simple moving average of $263.40.

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

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 64,162 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $271.67, for a total value of $17,430,890.54. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $27,981,194.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Workday news, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $209.17, for a total transaction of $11,922,690.00. Following the completion of the sale, the insider now directly owns 786,000 shares in the company, valued at $164,407,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 64,162 shares of Workday stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $271.67, for a total value of $17,430,890.54. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at $27,981,194.99. The disclosure for this sale can be found here. Insiders have sold 448,713 shares of company stock valued at $109,278,793 over the last three months. 20.00% of the stock is currently owned by insiders.

Institutional Trading of Workday

Hedge funds have recently bought and sold shares of the stock. Beacon Capital Management LLC grew its holdings in shares of Workday by 333.3% during the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after purchasing an additional 70 shares in the last quarter. VisionPoint Advisory Group LLC raised its stake in shares of Workday by 215.4% in the third 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 in the last quarter. Crewe Advisors LLC bought a new position in Workday in the first quarter worth $27,000. Exchange Traded Concepts LLC boosted its stake in 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 in the last quarter. Finally, Sound Income Strategies LLC increased its holdings in Workday by 74.2% in the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after buying an additional 49 shares during the period. 89.81% of the stock is owned by institutional investors.

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.