Robert W. Baird Lowers Workday (NASDAQ:WDAY) Price Target to $235.00

Workday (NASDAQ:WDAYGet Rating) had its price target lowered by equities research analysts at Robert W. Baird from $290.00 to $235.00 in a research report issued to clients and investors on Friday, The Fly reports. Robert W. Baird’s price target suggests a potential upside of 39.76% from the company’s current price.

WDAY has been the subject of a number of other reports. Monness Crespi & Hardt reduced their price target on shares of Workday to $230.00 and set a “na” rating for the company in a research report on Wednesday, May 18th. The Goldman Sachs Group reduced their target price on Workday from $345.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, April 14th. UBS Group lowered their price target on Workday from $185.00 to $170.00 in a report on Friday. Stifel Nicolaus cut their price objective on Workday from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, March 21st. Finally, BNP Paribas downgraded shares of Workday from an “outperform” rating to a “neutral” rating and set a $230.00 target price on the stock. in a research note on Tuesday, March 29th. Four analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $270.93.

NASDAQ WDAY opened at $168.15 on Friday. The company’s 50 day moving average is $209.50 and its 200-day moving average is $239.37. The firm has a market cap of $42.04 billion, a P/E ratio of 1,681.50 and a beta of 1.39. Workday has a 12-month low of $157.49 and a 12-month high of $307.81. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14.

Workday (NASDAQ:WDAYGet Rating) last posted its quarterly earnings results on Thursday, May 26th. The software maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.02). Workday had a return on equity of 2.63% and a net margin of 0.57%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the business earned ($0.01) earnings per share. Workday’s revenue was up 22.1% on a year-over-year basis. Equities analysts expect that Workday will post -0.45 EPS for the current year.

In other Workday news, CEO Aneel Bhusri sold 11,722 shares of Workday stock in a transaction on Monday, April 18th. The stock was sold at an average price of $218.13, for a total transaction of $2,556,919.86. Following the completion of the transaction, the chief executive officer now owns 361,606 shares in the company, valued at $78,877,116.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gomez Luciano Fernandez sold 1,756 shares of the stock in a transaction on Monday, March 7th. The stock was sold at an average price of $240.84, for a total value of $422,915.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 256,453 shares of company stock worth $60,374,855. 21.74% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Workday by 1.2% in the first quarter. Vanguard Group Inc. now owns 12,152,961 shares of the software maker’s stock worth $2,910,149,000 after purchasing an additional 139,939 shares during the last quarter. Lone Pine Capital LLC increased its holdings in Workday by 16.9% in the 4th quarter. Lone Pine Capital LLC now owns 5,814,667 shares of the software maker’s stock worth $1,588,451,000 after buying an additional 840,799 shares in the last quarter. Janus Henderson Group PLC raised its position in Workday by 12.9% in the 3rd quarter. Janus Henderson Group PLC now owns 3,911,968 shares of the software maker’s stock worth $977,574,000 after buying an additional 448,283 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Workday by 6.2% during the 1st quarter. Clearbridge Investments LLC now owns 3,427,755 shares of the software maker’s stock valued at $820,810,000 after acquiring an additional 201,605 shares during the last quarter. Finally, Sustainable Growth Advisers LP grew its stake in shares of Workday by 6.2% in the first quarter. Sustainable Growth Advisers LP now owns 2,970,385 shares of the software maker’s stock worth $711,288,000 after acquiring an additional 172,194 shares during the period. Hedge funds and other institutional investors own 70.64% of the company’s stock.

Workday Company Profile (Get Rating)

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments, and to manage their business and operations. The company offers a suite of financial management applications, which enable chief financial officers to maintain accounting information in the general ledger; manage financial processes; 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.

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