Moors & Cabot Inc. Buys New Shares in Workday, Inc. (NASDAQ:WDAY)

Moors & Cabot Inc. purchased a new stake in Workday, Inc. (NASDAQ:WDAY) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 829 shares of the software maker’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. raised its position in shares of Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares during the period. Diversified Trust Co lifted its stake in shares of Workday by 1.0% in the 2nd quarter. Diversified Trust Co now owns 4,830 shares of the software maker’s stock valued at $1,080,000 after purchasing an additional 47 shares in the last quarter. Opal Wealth Advisors LLC grew its holdings in shares of Workday by 5.2% during the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after purchasing an additional 47 shares during the period. Mesirow Financial Investment Management Inc. increased its position in Workday by 3.4% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock worth $324,000 after purchasing an additional 48 shares in the last quarter. Finally, Aspen Investment Management Inc raised its holdings in Workday by 3.1% in the second quarter. Aspen Investment Management Inc now owns 1,650 shares of the software maker’s stock valued at $369,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Down 0.1 %

Shares of Workday stock opened at $267.75 on Monday. The stock has a market capitalization of $70.95 billion, a price-to-earnings ratio of 46.65, a PEG ratio of 5.31 and a beta of 1.35. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The business’s 50 day simple moving average is $247.71 and its 200-day simple moving average is $236.89.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on WDAY shares. Canaccord Genuity Group reissued a “buy” rating and issued a $300.00 price objective on shares of Workday in a research report on Friday, September 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $285.00 target price on shares of Workday in a research report on Wednesday, September 18th. Loop Capital raised their target price on Workday from $255.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, November 14th. DA Davidson upped their price target on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Finally, Barclays lifted their price objective on shares of Workday from $286.00 to $289.00 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-two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $289.46.

Insider Activity at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the sale, the director now directly owns 90,000 shares in the company, valued at $22,990,500. The trade was a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the transaction, the director now owns 8,674 shares of the company’s stock, valued at $2,097,806.90. This represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 359,954 shares of company stock worth $88,742,132 in the last ninety days. 20.00% of the stock is owned by insiders.

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.