Robert W. Baird Increases Workday (NASDAQ:WDAY) Price Target to $215.00

Workday (NASDAQ:WDAY) had its price objective lifted by research analysts at Robert W. Baird from $190.00 to $215.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the software maker’s stock. Robert W. Baird’s target price would suggest a potential upside of 4.14% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Sanford C. Bernstein reissued an “outperform” rating and set a $216.00 price target on shares of Workday in a research report on Friday, May 22nd. Needham & Company LLC lowered their price objective on shares of Workday from $300.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of Workday in a report on Wednesday, June 17th. Lake Street Capital set a $205.00 price objective on shares of Workday in a research note on Friday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Workday in a report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $185.56.

Workday Trading Up 17.8%

NASDAQ WDAY opened at $206.45 on Friday. The stock has a market cap of $50.99 billion, a PE ratio of 64.52, a PEG ratio of 1.87 and a beta of 1.08. Workday has a 12 month low of $110.36 and a 12 month high of $249.85. The company’s 50-day moving average price is $143.31 and its 200-day moving average price is $138.89. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. The company had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the business posted $2.23 EPS. Equities research analysts forecast that Workday will post 5.38 earnings per share for the current year.

Insider Activity at Workday

In other Workday news, insider Robert Enslin sold 5,374 shares of the company’s stock in a transaction that occurred on Sunday, July 5th. The shares were sold at an average price of $134.90, for a total transaction of $724,952.60. Following the transaction, the insider owned 239,469 shares in the company, valued at approximately $32,304,368.10. This represents a 2.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total transaction of $862,200.00. Following the sale, the chief financial officer owned 288,460 shares of the company’s stock, valued at $41,451,702. The trade was a 2.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 875,020 shares of company stock valued at $113,938,503 in the last three months. 18.64% of the stock is owned by insiders.

Hedge Funds Weigh In On Workday

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rakuten Securities Inc. acquired a new position in shares of Workday in the second quarter valued at about $25,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Workday during the third quarter worth about $26,000. DT Investment Partners LLC acquired a new stake in shares of Workday during the fourth quarter worth about $27,000. LRI Investments LLC purchased a new stake in Workday in the fourth quarter valued at approximately $29,000. Finally, JPL Wealth Management LLC acquired a new position in Workday in the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Key Workday News

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Silver Lake is reportedly considering acquiring Workday at a valuation of approximately $43 billion. A completed deal could provide shareholders with a significant premium and represents one of the largest software buyouts in history. However, the discussions remain ongoing and there is no guarantee that an agreement will be reached. Silver Lake in talks to buy Workday, sources say
• Positive Sentiment: Analysts characterized the potential bid as an opportunity for private equity to invest in software companies pressured by artificial-intelligence concerns. Workday’s customer data, distribution network and established franchise were cited as advantages that could support long-term value creation. Silver Lake’s Workday Buyout Talks Could Be the First SaaSpocalypse Opportunity
• Positive Sentiment: William Blair analyst Patrick McIlwee reiterated a Buy rating, citing Workday’s oversold valuation, franchise quality and potential takeover upside. Analyst Reiterates Buy on Workday
• Neutral Sentiment: The takeover reports triggered unusually heavy volatility, including multiple temporary “limit up-limit down” trading pauses. The stock’s future direction will depend heavily on whether Silver Lake makes a formal offer and on the valuation and terms. Workday skyrockets before trading halted

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.