Wasatch Advisors LP Boosts Stock Position in Workday, Inc. (NASDAQ:WDAY)

Wasatch Advisors LP boosted its holdings in Workday, Inc. (NASDAQ:WDAY) by 69.4% during the 3rd quarter, Holdings Channel reports. The firm owned 11,687 shares of the software maker’s stock after acquiring an additional 4,787 shares during the period. Wasatch Advisors LP’s holdings in Workday were worth $2,856,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Workday in the third quarter valued at $26,000. SouthState Corp raised its stake in shares of Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after buying an additional 129 shares during the period. Crewe Advisors LLC raised its stake in shares of Workday by 56.6% in the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock valued at $35,000 after buying an additional 56 shares during the period. Goodman Advisory Group LLC bought a new stake in shares of Workday in the second quarter valued at $35,000. Finally, Meeder Asset Management Inc. raised its stake in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Activity at Workday

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $255.45, for a total value of $1,915,875.00. Following the completion of the sale, the director now owns 90,000 shares in the company, valued at approximately $22,990,500. This trade represents a 7.69 % 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 66,492 shares of the stock in a transaction that occurred 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 owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. This trade represents a 39.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 359,954 shares of company stock worth $88,742,132 in the last ninety days. 20.00% of the stock is owned by company insiders.

Workday Price Performance

WDAY opened at $249.99 on Monday. The stock has a market capitalization of $66.25 billion, a P/E ratio of 41.46, a PEG ratio of 4.96 and a beta of 1.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The stock has a 50-day moving average price of $248.77 and a 200-day moving average price of $237.30. 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 Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.21% and a net margin of 19.86%. Workday’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.47 EPS. Equities analysts predict that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wells Fargo & Company boosted their target price on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Stifel Nicolaus boosted their target price on Workday from $250.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. DA Davidson boosted their price objective on Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Finally, Citigroup decreased their price objective on Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $288.14.

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.