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

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

Other research analysts have also recently issued reports about the company. UBS Group cut their price target on Workday from $280.00 to $255.00 and set a neutral rating for the company in a report on Friday. Robert W. Baird lowered their price objective on Workday from $316.00 to $265.00 and set an outperform rating for the company in a research report on Friday. BMO Capital Markets lowered their price objective on Workday from $338.00 to $300.00 and set an outperform rating for the company in a research report on Friday. Jefferies Financial Group lowered their price objective on Workday from $350.00 to $330.00 and set a buy rating for the company in a research report on Friday. Finally, Piper Sandler lowered their price objective on Workday from $330.00 to $280.00 and set an overweight rating for the company in a research report on Friday. One 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. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $283.96.

Workday Stock Performance

Workday stock opened at $220.91 on Friday. The stock has a 50-day simple moving average of $259.94 and a 200 day simple moving average of $269.56. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday has a 12-month low of $192.68 and a 12-month high of $311.28. The stock has a market capitalization of $58.32 billion, a price-to-earnings ratio of 39.80, a P/E/G ratio of 6.59 and a beta of 1.33.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. Workday had a return on equity of 6.02% and a net margin of 19.66%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the previous year, the business posted $0.16 earnings per share. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, research analysts anticipate that Workday will post 2.5 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, Director George J. Still, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $270.52, for a total value of $1,352,600.00. Following the completion of the transaction, the director now directly owns 105,000 shares in the company, valued at approximately $28,404,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director George J. Still, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $270.52, for a total value of $1,352,600.00. Following the completion of the transaction, the director now directly owns 105,000 shares in the company, valued at approximately $28,404,600. 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 64,329 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $268.85, for a total value of $17,294,851.65. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $27,690,743.45. The disclosure for this sale can be found here. In the last three months, insiders sold 435,691 shares of company stock worth $117,731,569. 20.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Workday

Several institutional investors have recently bought and sold shares of the company. ORG Partners LLC lifted its stake in Workday by 1.2% in the 4th quarter. ORG Partners LLC now owns 2,856 shares of the software maker’s stock valued at $788,000 after acquiring an additional 34 shares in the last quarter. VisionPoint Advisory Group LLC lifted its stake in Workday by 27.6% in the 4th quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock valued at $43,000 after acquiring an additional 34 shares in the last quarter. Carolinas Wealth Consulting LLC raised its stake in shares of Workday by 9.7% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock worth $106,000 after purchasing an additional 34 shares in the last quarter. Washington Trust Advisors Inc. raised its stake in shares of Workday by 8.1% during the 4th quarter. Washington Trust Advisors Inc. now owns 481 shares of the software maker’s stock worth $133,000 after purchasing an additional 36 shares in the last quarter. Finally, Meitav Investment House Ltd. raised its stake in shares of Workday by 2.6% during the 4th quarter. Meitav Investment House Ltd. now owns 1,401 shares of the software maker’s stock worth $387,000 after purchasing an additional 36 shares in 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.