Workday, Inc. (NASDAQ:WDAY) Position Boosted by Empowered Funds LLC

Empowered Funds LLC increased its holdings in Workday, Inc. (NASDAQ:WDAY) by 38.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,349 shares of the software maker’s stock after purchasing an additional 2,049 shares during the quarter. Empowered Funds LLC’s holdings in Workday were worth $1,796,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in shares of Workday during the 1st quarter valued at $27,000. Capital Performance Advisors LLP purchased a new stake in shares of Workday during the third quarter valued at $26,000. SouthState Corp boosted its position in shares of Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after purchasing an additional 129 shares during the period. Pacific Center for Financial Services increased its stake in Workday by 57.0% in the 1st quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock worth $43,000 after purchasing an additional 57 shares in the last quarter. Finally, Goodman Advisory Group LLC acquired a new stake in Workday during the 2nd quarter worth about $35,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on WDAY. JMP Securities reiterated a “market outperform” rating and issued a $315.00 target price on shares of Workday in a report on Thursday, September 19th. Stifel Nicolaus lifted their price objective on shares of Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Barclays increased their target price on Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Bank of America lifted their price target on Workday from $265.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Citigroup reduced their price objective on Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and a consensus target price of $289.46.

Insider Activity at Workday

In other news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $260.32, for a total value of $1,952,400.00. Following the sale, the director now directly owns 97,500 shares in the company, valued at $25,381,200. This trade represents a 7.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 66,492 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,902,816.40. This represents a 39.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 370,575 shares of company stock worth $91,506,897 in the last ninety days. Company insiders own 20.00% of the company’s stock.

Workday Stock Down 0.2 %

NASDAQ WDAY opened at $259.44 on Thursday. The stock’s 50 day simple moving average is $247.02 and its 200 day simple moving average is $236.73. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a market cap of $68.75 billion, a PE ratio of 45.20, a price-to-earnings-growth ratio of 5.15 and a beta of 1.35. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. As a group, sell-side analysts forecast that Workday, Inc. will post 2.4 earnings per share for the current fiscal 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.