Baird Financial Group Inc. Raises Holdings in Workday, Inc. (NASDAQ:WDAY)

Baird Financial Group Inc. lifted its position in Workday, Inc. (NASDAQ:WDAY) by 10.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,308 shares of the software maker’s stock after purchasing an additional 870 shares during the period. Baird Financial Group Inc.’s holdings in Workday were worth $2,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of WDAY. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Workday by 0.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 44,227 shares of the software maker’s stock worth $10,809,000 after buying an additional 146 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Workday by 2.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 2,325 shares of the software maker’s stock worth $600,000 after buying an additional 60 shares during the last quarter. Czech National Bank purchased a new position in shares of Workday in the 4th quarter worth $11,917,000. Fiduciary Alliance LLC purchased a new position in shares of Workday in the 4th quarter worth $2,486,000. Finally, CHICAGO TRUST Co NA boosted its stake in shares of Workday by 1.7% in the 4th quarter. CHICAGO TRUST Co NA now owns 4,290 shares of the software maker’s stock worth $1,107,000 after buying an additional 70 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Trading Up 0.4%

Shares of WDAY stock opened at $259.01 on Monday. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock’s 50-day moving average price is $238.49 and its 200-day moving average price is $252.33. The stock has a market capitalization of $68.90 billion, a price-to-earnings ratio of 42.95, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Equities research analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Transactions at Workday

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the sale, the insider now directly owns 111,324 shares of the company’s stock, valued at $29,556,522. The trade was a 5.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Carl M. Eschenbach sold 3,125 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total value of $733,156.25. Following the sale, the chief executive officer now directly owns 10,847 shares in the company, valued at $2,544,814.67. The trade was a 22.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 321,724 shares of company stock valued at $77,976,126. 19.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WDAY. DA Davidson dropped their price target on Workday from $270.00 to $230.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Oppenheimer lifted their target price on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Royal Bank of Canada lifted their target price on Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Piper Sandler lowered their target price on Workday from $290.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Finally, UBS Group lifted their target price on Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $293.62.

Workday Profile

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.