Workday, Inc. (NYSE:WDAY) Receives “Buy” Rating from Robert W. Baird

Robert W. Baird reiterated their buy rating on shares of Workday, Inc. (NYSE:WDAY) in a report released on Friday, September 1st. The brokerage currently has a $114.00 target price on the software maker’s stock.

A number of other brokerages have also weighed in on WDAY. Goldman Sachs Group, Inc. (The) reissued a neutral rating and set a $114.00 price target (up previously from $101.00) on shares of Workday in a research note on Thursday, August 31st. Piper Jaffray Companies reissued an overweight rating and set a $120.00 price target (up previously from $115.00) on shares of Workday in a research note on Thursday, August 31st. Cowen and Company reissued a market perform rating and set a $100.00 price target (up previously from $93.00) on shares of Workday in a research note on Thursday, August 31st. UBS AG reaffirmed an overweight rating and issued a $116.00 target price (up from $115.00) on shares of Workday in a research report on Thursday, August 31st. Finally, Barclays PLC reaffirmed an equal weight rating and issued a $108.00 target price (up from $90.00) on shares of Workday in a research report on Thursday, August 31st. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Workday presently has a consensus rating of Hold and an average target price of $98.79.

Workday (NYSE WDAY) opened at 105.04 on Friday. The company’s market capitalization is $21.85 billion. Workday has a one year low of $65.79 and a one year high of $111.45. The stock’s 50 day moving average price is $104.16 and its 200 day moving average price is $95.37.

Workday (NYSE:WDAY) last posted its earnings results on Wednesday, August 30th. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. Workday had a negative return on equity of 24.07% and a negative net margin of 19.78%. The firm had revenue of $525.30 million for the quarter, compared to analyst estimates of $507.44 million. During the same quarter in the prior year, the company earned ($0.04) EPS. Workday’s revenue was up 40.6% on a year-over-year basis. Equities analysts anticipate that Workday will post $0.82 EPS for the current fiscal year.

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In other Workday news, Director Michael A. Stankey sold 25,000 shares of Workday stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $106.86, for a total transaction of $2,671,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO James Bozzini sold 6,300 shares of Workday stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $98.12, for a total transaction of $618,156.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,310,752 shares of company stock worth $134,888,238. 37.71% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of WDAY. Winfield Associates Inc. grew its position in Workday by 136.4% during the 2nd quarter. Winfield Associates Inc. now owns 1,040 shares of the software maker’s stock worth $101,000 after purchasing an additional 600 shares in the last quarter. First Personal Financial Services grew its position in Workday by 21.2% during the 2nd quarter. First Personal Financial Services now owns 1,057 shares of the software maker’s stock worth $103,000 after purchasing an additional 185 shares in the last quarter. Global X Management Co. LLC grew its position in Workday by 9.3% during the 2nd quarter. Global X Management Co. LLC now owns 1,136 shares of the software maker’s stock worth $110,000 after purchasing an additional 97 shares in the last quarter. Toronto Dominion Bank grew its position in Workday by 29.5% during the 1st quarter. Toronto Dominion Bank now owns 1,335 shares of the software maker’s stock worth $111,000 after purchasing an additional 304 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of Workday by 17.6% during the 2nd quarter. IFP Advisors Inc now owns 1,176 shares of the software maker’s stock valued at $114,000 after buying an additional 176 shares during the period. Hedge funds and other institutional investors own 67.74% of the company’s stock.

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.

Analyst Recommendations for Workday (NYSE:WDAY)

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