Mesirow Financial Investment Management Inc. Raises Stake in Workday, Inc. (NASDAQ:WDAY)

Mesirow Financial Investment Management Inc. lifted its stake in Workday, Inc. (NASDAQ:WDAY) by 100.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,912 shares of the software maker’s stock after buying an additional 1,461 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Workday were worth $712,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atria Investments Inc boosted its holdings in shares of Workday by 19.3% in the third quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock valued at $10,833,000 after acquiring an additional 7,175 shares in the last quarter. Lindbrook Capital LLC increased its stake in Workday by 17,001.6% in the third quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock valued at $703,000 after purchasing an additional 284,266 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Workday by 0.3% during the 3rd quarter. Assetmark Inc. now owns 32,468 shares of the software maker’s stock worth $7,936,000 after acquiring an additional 109 shares during the period. Verdence Capital Advisors LLC raised its stake in shares of Workday by 8.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,666 shares of the software maker’s stock valued at $1,874,000 after acquiring an additional 610 shares during the period. Finally, Pegasus Partners Ltd. boosted its position in shares of Workday by 29.7% in the third quarter. Pegasus Partners Ltd. now owns 1,381 shares of the software maker’s stock worth $338,000 after buying an additional 316 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Citigroup dropped their target price on shares of Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. KeyCorp upped their price target on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Bank of America raised their price objective on Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. JMP Securities reiterated a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Thursday, September 19th. Finally, BMO Capital Markets restated an “outperform” rating and set a $300.00 target price on shares of Workday in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and a consensus target price of $287.04.

Insider Activity at Workday

In other news, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total transaction of $738,934.52. Following the completion of the transaction, the insider now directly owns 85,795 shares in the company, valued at approximately $20,228,745.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the completion of the sale, the insider now owns 281,000 shares in the company, valued at approximately $68,004,810. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Richard Harry Sauer sold 3,134 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the completion of the transaction, the insider now owns 85,795 shares of the company’s stock, valued at $20,228,745.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 370,575 shares of company stock worth $91,506,897 over the last quarter. 20.00% of the stock is owned by corporate insiders.

Workday Price Performance

Workday stock opened at $264.15 on Tuesday. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The company’s 50 day moving average price is $245.75 and its two-hundred day moving average price is $235.79. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $70.00 billion, a P/E ratio of 46.02, a P/E/G ratio of 5.09 and a beta of 1.35.

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

Workday 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.