Guggenheim Reaffirms Sell Rating for Workday (NASDAQ:WDAY)

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

WDAY has been the subject of several other reports. DA Davidson decreased their price target on shares of Workday from $300.00 to $255.00 and set a neutral rating for the company in a research note on Friday, May 24th. TheStreet upgraded shares of Workday from a c rating to a b- rating in a research note on Monday, February 26th. Stifel Nicolaus decreased their price target on shares of Workday from $290.00 to $250.00 and set a hold rating for the company in a research note on Friday, May 24th. Robert W. Baird decreased their price target on shares of Workday from $316.00 to $265.00 and set an outperform rating for the company in a research note on Friday, May 24th. Finally, Oppenheimer decreased their price target on shares of Workday from $320.00 to $300.00 and set an outperform rating for the company in a research note 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $282.11.

Workday Trading Up 3.0 %

Shares of WDAY opened at $223.36 on Tuesday. The firm has a fifty day simple moving average of $233.71 and a two-hundred day simple moving average of $264.05. Workday has a twelve month low of $202.01 and a twelve month high of $311.28. 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 has a market capitalization of $59.19 billion, a P/E ratio of 40.04, a PEG ratio of 5.49 and a beta of 1.33.

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

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 64,162 shares of Workday stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $271.67, for a total transaction of $17,430,890.54. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $27,981,194.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Workday news, insider Richard Harry Sauer sold 8,447 shares of Workday stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $268.21, for a total transaction of $2,265,569.87. Following the transaction, the insider now owns 66,356 shares of the company’s stock, valued at $17,797,342.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 64,162 shares of Workday stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $271.67, for a total transaction of $17,430,890.54. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $27,981,194.99. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 448,713 shares of company stock valued at $109,278,793. 20.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Workday

Several hedge funds have recently modified their holdings of WDAY. Beacon Capital Management LLC lifted its holdings in shares of Workday by 333.3% in the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after buying an additional 70 shares in the last quarter. VisionPoint Advisory Group LLC lifted its holdings 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 worth $26,000 after buying an additional 84 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of Workday in the first quarter worth $27,000. Exchange Traded Concepts LLC lifted its holdings in shares of Workday by 1,750.0% in 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 lifted its holdings in shares of Workday by 74.2% in 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 in the last quarter. Hedge funds and other 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.