Robert W. Baird Reaffirms Buy Rating for Workday Inc (WDAY)
Workday Inc (NYSE:WDAY)‘s stock had its “buy” rating restated by research analysts at Robert W. Baird in a note issued to investors on Friday. They presently have a $114.00 target price on the software maker’s stock. Robert W. Baird’s price target indicates a potential upside of 6.23% from the stock’s current price.
A number of other analysts also recently issued reports on the company. UBS AG reaffirmed a “sell” rating and issued a $95.00 target price (down from $121.00) on shares of Workday in a research note on Thursday. Guggenheim assumed coverage on Workday in a research note on Monday, October 30th. They issued a “neutral” rating and a $105.00 target price for the company. Northland Securities reaffirmed a “hold” rating and issued a $90.00 target price on shares of Workday in a research note on Sunday, October 29th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $125.00 target price on shares of Workday in a research note on Tuesday, October 17th. Finally, JMP Securities downgraded Workday from a “market outperform” rating to a “market perform” rating in a research note on Tuesday, October 10th. Five equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $99.53.
Shares of Workday (WDAY) opened at $107.31 on Friday. Workday has a 52 week low of $65.79 and a 52 week high of $111.94. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.54 and a current ratio of 1.54.
Workday (NYSE:WDAY) last issued its earnings results on Wednesday, August 30th. The software maker reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.09. Workday had a negative return on equity of 24.60% and a negative net margin of 15.71%. The business had revenue of $525.30 million during the quarter, compared to the consensus estimate of $507.44 million. During the same period last year, the company earned ($0.04) EPS. The company’s revenue for the quarter was up 40.6% on a year-over-year basis.
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In other Workday news, SVP James P. Shaughnessy sold 8,781 shares of Workday stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $108.44, for a total transaction of $952,211.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO James Bozzini sold 13,700 shares of Workday stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $99.99, for a total value of $1,369,863.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,575,678 shares of company stock worth $170,655,114. 37.71% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fisher Asset Management LLC increased its position in Workday by 0.5% during the second quarter. Fisher Asset Management LLC now owns 8,620 shares of the software maker’s stock worth $836,000 after buying an additional 45 shares during the period. Nordea Investment Management AB increased its position in Workday by 2.5% during the second quarter. Nordea Investment Management AB now owns 3,413 shares of the software maker’s stock worth $331,000 after buying an additional 83 shares during the period. Global X Management Co. LLC increased its position in Workday by 9.3% during the second quarter. Global X Management Co. LLC now owns 1,136 shares of the software maker’s stock worth $110,000 after buying an additional 97 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Workday by 2.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,542 shares of the software maker’s stock worth $538,000 after buying an additional 126 shares during the period. Finally, IFP Advisors Inc increased its position in Workday by 17.6% during the second quarter. IFP Advisors Inc now owns 1,176 shares of the software maker’s stock worth $114,000 after buying an additional 176 shares during the period. 67.08% of the stock is currently owned by institutional investors.
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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