Deltec Asset Management LLC Invests $872,000 in Workday, Inc. (NASDAQ:WDAY)

Deltec Asset Management LLC bought a new stake in Workday, Inc. (NASDAQ:WDAY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,900 shares of the software maker’s stock, valued at approximately $872,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new position in shares of Workday during the first quarter worth approximately $27,000. Sound Income Strategies LLC raised its holdings in Workday by 74.2% during the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after buying an additional 49 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of Workday by 167.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 182 shares of the software maker’s stock valued at $41,000 after buying an additional 114 shares in the last quarter. VisionPoint Advisory Group LLC grew its holdings in shares of Workday by 27.6% during the fourth quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock valued at $43,000 after buying an additional 34 shares during the last quarter. Finally, Pacific Center for Financial Services increased its position in shares of Workday by 57.0% during the first quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock worth $43,000 after acquiring an additional 57 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Canaccord Genuity Group cut their price target on Workday from $305.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Oppenheimer cut their target price on Workday from $320.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Wells Fargo & Company lowered their price target on Workday from $275.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price objective on shares of Workday in a report on Friday, May 24th. Finally, Evercore ISI lowered their target price on shares of Workday from $350.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $280.89.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 82,762 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $210.28, for a total value of $17,403,193.36. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $21,658,209.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $214.44, for a total value of $669,267.24. Following the transaction, the insider now owns 204,066 shares in the company, valued at $43,759,913.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder David A. Duffield sold 82,762 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $210.28, for a total value of $17,403,193.36. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at $21,658,209.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 524,672 shares of company stock valued at $115,938,834. Company insiders own 20.00% of the company’s stock.

Workday Price Performance

WDAY traded up $6.45 during trading on Wednesday, reaching $222.84. 2,283,414 shares of the company were exchanged, compared to its average volume of 2,163,585. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The company’s 50-day moving average is $220.15 and its two-hundred day moving average is $250.93. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37. The company has a market cap of $59.05 billion, a price-to-earnings ratio of 38.99, a P/E/G ratio of 5.34 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 5.78%. Workday’s revenue was up 18.1% compared to the same quarter last year. During the same period last year, the business earned $0.16 earnings per share. Research analysts forecast that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

Workday Company 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.