Worldquant Millennium Advisors LLC Buys 282,632 Shares of Workday, Inc. (NASDAQ:WDAY)

Worldquant Millennium Advisors LLC grew its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 387.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 355,655 shares of the software maker’s stock after buying an additional 282,632 shares during the period. Worldquant Millennium Advisors LLC owned 0.13% of Workday worth $86,926,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WDAY. Valeo Financial Advisors LLC raised its stake in Workday by 28.1% in the second quarter. Valeo Financial Advisors LLC now owns 1,227 shares of the software maker’s stock valued at $274,000 after purchasing an additional 269 shares in the last quarter. Simplicity Wealth LLC grew its position in Workday by 24.6% in the second quarter. Simplicity Wealth LLC now owns 4,156 shares of the software maker’s stock worth $929,000 after acquiring an additional 821 shares in the last quarter. Csenge Advisory Group increased its stake in Workday by 10.9% in the second quarter. Csenge Advisory Group now owns 1,192 shares of the software maker’s stock valued at $266,000 after acquiring an additional 117 shares during the last quarter. BDF Gestion purchased a new stake in Workday during the second quarter valued at about $2,101,000. Finally, QRG Capital Management Inc. raised its position in Workday by 5.7% during the second quarter. QRG Capital Management Inc. now owns 6,265 shares of the software maker’s stock valued at $1,401,000 after purchasing an additional 339 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Performance

Workday stock opened at $262.70 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The stock has a market cap of $69.62 billion, a price-to-earnings ratio of 43.57, a PEG ratio of 4.98 and a beta of 1.34. The stock’s 50 day simple moving average is $249.96 and its two-hundred day simple moving average is $237.65.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.21%. The business’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. As a group, analysts expect that Workday, Inc. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Needham & Company LLC reiterated a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Monday, November 25th. Oppenheimer restated an “outperform” rating and issued a $300.00 price objective on shares of Workday in a report on Tuesday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Workday in a research note on Friday, September 13th. Finally, Evercore ISI decreased their target price on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $288.14.

Insider Buying and Selling

In related news, insider Sayan Chakraborty sold 5,498 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the transaction, the insider now directly owns 121,100 shares in the company, valued at $30,369,458. The trade was a 4.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $247.59, for a total value of $14,112,630.00. Following the completion of the transaction, the insider now directly owns 505,000 shares in the company, valued at $125,032,950. This trade represents a 10.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 361,463 shares of company stock worth $88,422,088 in the last quarter. Corporate insiders own 20.00% of the company’s stock.

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.