Workday (NASDAQ:WDAY) PT Lowered to $265.00 at Robert W. Baird

Workday (NASDAQ:WDAY) had its price objective reduced by analysts at Robert W. Baird from $316.00 to $265.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the software maker’s stock. Robert W. Baird’s price target points to a potential upside of 1.57% from the company’s previous close.

Several other brokerages have also recently issued reports on WDAY. UBS Group decreased their price objective on Workday from $315.00 to $300.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Piper Sandler decreased their price objective on Workday from $330.00 to $280.00 and set an “overweight” rating for the company in a report on Friday. Oppenheimer reduced their price target on Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a report on Friday. DA Davidson reaffirmed a “neutral” rating and issued a $300.00 price target on shares of Workday in a report on Tuesday, February 27th. Finally, Wells Fargo & Company upped their price target on Workday from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $289.39.

Workday Stock Up 0.4 %

Shares of WDAY stock opened at $260.90 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97. The stock’s fifty day moving average price is $260.89 and its 200 day moving average price is $268.88. The company has a market cap of $68.88 billion, a price-to-earnings ratio of 50.66, a price-to-earnings-growth ratio of 7.75 and a beta of 1.33. Workday has a 1-year low of $191.04 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.20. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.16 EPS. On average, research analysts expect that Workday will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the completion of the sale, the insider now owns 843,000 shares of the company’s stock, valued at $223,302,270. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Friday, April 12th. The stock was sold at an average price of $264.89, for a total value of $14,833,840.00. Following the completion of the sale, the insider now directly owns 843,000 shares of the company’s stock, valued at $223,302,270. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the completion of the sale, the insider now directly owns 165,932 shares of the company’s stock, valued at $48,749,162.28. The disclosure for this sale can be found here. Insiders sold a total of 435,691 shares of company stock valued at $117,731,569 over the last quarter. 20.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Workday

A number of institutional investors have recently modified their holdings of WDAY. Yousif Capital Management LLC boosted its holdings in Workday by 4.9% in the third quarter. Yousif Capital Management LLC now owns 2,266 shares of the software maker’s stock valued at $487,000 after purchasing an additional 105 shares during the period. Private Advisor Group LLC boosted its holdings in Workday by 1.2% in the third quarter. Private Advisor Group LLC now owns 9,548 shares of the software maker’s stock valued at $2,051,000 after purchasing an additional 112 shares during the period. MGO One Seven LLC lifted its holdings in Workday by 17.4% during the 3rd quarter. MGO One Seven LLC now owns 1,713 shares of the software maker’s stock worth $368,000 after buying an additional 254 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in Workday by 10.6% during the 3rd quarter. Corient Private Wealth LLC now owns 33,330 shares of the software maker’s stock worth $7,254,000 after buying an additional 3,188 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Workday by 9.4% during the 3rd quarter. Signaturefd LLC now owns 3,380 shares of the software maker’s stock worth $726,000 after buying an additional 291 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

About Workday

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.