Kornitzer Capital Management Inc. KS Acquires 1,693 Shares of Workday, Inc. (NASDAQ:WDAY)

Kornitzer Capital Management Inc. KS raised its holdings in Workday, Inc. (NASDAQ:WDAY) by 4.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,703 shares of the software maker’s stock after buying an additional 1,693 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Workday were worth $9,704,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Crewe Advisors LLC bought a new stake in shares of Workday during the first quarter worth approximately $27,000. SouthState Corp lifted its holdings in Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after purchasing an additional 129 shares during the last quarter. Goodman Advisory Group LLC bought a new stake in Workday in the 2nd quarter valued at $35,000. Asset Dedication LLC acquired a new position in Workday in the 2nd quarter valued at $36,000. Finally, PSI Advisors LLC bought a new position in Workday during the 2nd quarter worth $38,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the sale, the insider now owns 102,997 shares in the company, valued at $26,902,816.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total transaction of $14,112,630.00. Following the transaction, the insider now directly owns 505,000 shares in the company, valued at $125,032,950. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 370,575 shares of company stock valued at $91,506,897. Corporate insiders own 20.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WDAY shares. BMO Capital Markets reissued an “outperform” rating and issued a $300.00 target price on shares of Workday in a research report on Wednesday, September 18th. Citigroup lowered their target price on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Piper Sandler reiterated an “overweight” rating and issued a $285.00 price target on shares of Workday in a research note on Wednesday, September 18th. Evercore ISI cut their target price on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company boosted their price target on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $287.04.

Workday Stock Performance

WDAY stock opened at $257.98 on Friday. The firm has a market cap of $68.36 billion, a PE ratio of 44.94, a price-to-earnings-growth ratio of 5.00 and a beta of 1.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The stock has a 50-day moving average price of $245.97 and a 200-day moving average price of $235.90. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating the consensus estimate of $1.65 by $0.10. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period last year, the business posted $0.40 EPS. As a group, equities research analysts expect that Workday, Inc. will post 2.4 earnings per share for the current year.

About Workday

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.