Townsquare Capital LLC Acquires 31,001 Shares of Workday, Inc. (NASDAQ:WDAY)

Townsquare Capital LLC lifted its stake in Workday, Inc. (NASDAQ:WDAY) by 39.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,489 shares of the software maker’s stock after purchasing an additional 31,001 shares during the period. Townsquare Capital LLC’s holdings in Workday were worth $27,005,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Silvercrest Asset Management Group LLC increased its stake in shares of Workday by 75.2% during the first quarter. Silvercrest Asset Management Group LLC now owns 19,947 shares of the software maker’s stock valued at $5,441,000 after buying an additional 8,559 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in shares of Workday by 27.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,417 shares of the software maker’s stock valued at $659,000 after purchasing an additional 525 shares in the last quarter. Comerica Bank lifted its position in shares of Workday by 13.2% in the 1st quarter. Comerica Bank now owns 42,664 shares of the software maker’s stock worth $11,637,000 after purchasing an additional 4,977 shares during the period. iA Global Asset Management Inc. boosted its stake in shares of Workday by 6.7% during the first quarter. iA Global Asset Management Inc. now owns 32,180 shares of the software maker’s stock valued at $8,777,000 after purchasing an additional 2,034 shares in the last quarter. Finally, Plato Investment Management Ltd increased its holdings in Workday by 2,119.4% during the first quarter. Plato Investment Management Ltd now owns 3,085 shares of the software maker’s stock valued at $841,000 after buying an additional 2,946 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Insider Transactions at Workday

In other Workday news, Director Wayne A.I. Frederick sold 1,828 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the sale, the director now directly owns 8,674 shares in the company, valued at approximately $2,097,806.90. The trade was a 17.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard Harry Sauer sold 3,134 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total value of $738,934.52. Following the transaction, the insider now directly owns 85,795 shares of the company’s stock, valued at $20,228,745.10. The trade was a 3.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 359,954 shares of company stock valued at $88,742,132 in the last three months. 20.00% of the stock is currently owned by company insiders.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $270.19 on Wednesday. The company has a market capitalization of $71.60 billion, a PE ratio of 47.07, a price-to-earnings-growth ratio of 5.31 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The company’s fifty day moving average price is $248.52 and its 200 day moving average price is $237.21. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the firm earned $0.47 EPS. On average, research analysts predict that Workday, Inc. will post 2.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on WDAY shares. Morgan Stanley lowered their target price on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Scotiabank started coverage on Workday in a research report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price objective on the stock. DA Davidson boosted their target price on shares of Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. The Goldman Sachs Group increased their price target on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Bank of America lifted their price objective on shares of Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $289.46.

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.