Guggenheim Begins Coverage on Workday Inc (WDAY)

Guggenheim initiated coverage on shares of Workday Inc (NYSE:WDAY) in a report published on Monday, MarketBeat.com reports. The firm issued a neutral rating and a $105.00 price target on the software maker’s stock.

Other equities analysts also recently issued research reports about the company. Royal Bank Of Canada reissued a buy rating and set a $116.00 price target on shares of Workday in a research report on Sunday, August 27th. Piper Jaffray Companies reaffirmed a buy rating and issued a $115.00 target price on shares of Workday in a research report on Tuesday, August 22nd. Canaccord Genuity reaffirmed a buy rating and issued a $115.00 target price on shares of Workday in a research report on Friday, July 7th. Drexel Hamilton reaffirmed a buy rating and issued a $122.00 target price on shares of Workday in a research report on Tuesday, August 29th. Finally, Mitsubishi UFJ Financial Group reaffirmed a buy rating and issued a $116.00 target price (up previously from $106.00) on shares of Workday in a research report on Thursday, August 31st. Four analysts have rated the stock with a sell rating, twenty-two have given a hold rating and sixteen have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $100.15.

Workday (NYSE:WDAY) last announced its quarterly earnings results on Wednesday, August 30th. The software maker reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.09. The firm had revenue of $525.30 million for the quarter, compared to the consensus estimate of $507.44 million. Workday had a negative return on equity of 24.60% and a negative net margin of 15.71%. The business’s revenue was up 40.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.04) earnings per share.

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In related news, COO James Bozzini sold 3,918 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $101.68, for a total value of $398,382.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mark S. Peek sold 10,249 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $102.00, for a total transaction of $1,045,398.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,575,678 shares of company stock valued at $170,655,114. 37.71% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in WDAY. Winfield Associates Inc. lifted its position in Workday by 136.4% in the 2nd quarter. Winfield Associates Inc. now owns 1,040 shares of the software maker’s stock valued at $101,000 after acquiring an additional 600 shares in the last quarter. First Personal Financial Services lifted its position in Workday by 21.2% in the 2nd quarter. First Personal Financial Services now owns 1,057 shares of the software maker’s stock valued at $103,000 after acquiring an additional 185 shares in the last quarter. Global X Management Co. LLC lifted its position in Workday by 9.3% in the 2nd quarter. Global X Management Co. LLC now owns 1,136 shares of the software maker’s stock valued at $110,000 after acquiring an additional 97 shares in the last quarter. IFP Advisors Inc lifted its position in Workday by 17.6% in the 2nd quarter. IFP Advisors Inc now owns 1,176 shares of the software maker’s stock valued at $114,000 after acquiring an additional 176 shares in the last quarter. Finally, Advisor Group Inc. lifted its position in Workday by 22.5% in the 2nd quarter. Advisor Group Inc. now owns 1,283 shares of the software maker’s stock valued at $123,000 after acquiring an additional 236 shares in the last quarter. 67.08% of the stock is currently owned by institutional investors and hedge funds.

About Workday

Workday, Inc is a provider of enterprise cloud applications for finance and human resources. The Company delivers financial management, human capital management and analytics applications designed for various companies, educational institutions and government agencies. As part of its applications, the Company provides embedded analytics that capture the content and context of everyday business events, facilitating informed decision-making from wherever users are working.

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