Workday, Inc. (NASDAQ:WDAY) Shares Acquired by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 10.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,424 shares of the software maker’s stock after purchasing an additional 408 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Workday were worth $965,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Crewe Advisors LLC purchased a new position in shares of Workday during the first quarter worth about $27,000. Sound Income Strategies LLC increased its holdings in shares of Workday by 74.2% in the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after purchasing an additional 49 shares during the period. SouthState Corp raised its stake in shares of Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after purchasing an additional 129 shares during the last quarter. Asset Dedication LLC acquired a new stake in shares of Workday during the second quarter worth $36,000. Finally, PSI Advisors LLC purchased a new position in Workday in the 2nd quarter valued at $38,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Price Performance

WDAY stock opened at $243.37 on Thursday. The stock has a market capitalization of $64.49 billion, a price-to-earnings ratio of 43.75, a price-to-earnings-growth ratio of 4.87 and a beta of 1.35. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The stock’s fifty day simple moving average is $237.96 and its 200-day simple moving average is $241.69.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating the consensus estimate of $1.65 by $0.10. The company had revenue of $2.09 billion during 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 revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 EPS. Equities research analysts expect that Workday, Inc. will post 2.39 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $223.80, for a total transaction of $12,532,800.00. Following the completion of the sale, the insider now directly owns 674,000 shares of the company’s stock, valued at approximately $150,841,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $223.80, for a total transaction of $12,532,800.00. Following the completion of the sale, the insider now owns 674,000 shares of the company’s stock, valued at $150,841,200. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 78,279 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $223.89, for a total value of $17,525,885.31. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at $23,059,998.33. The disclosure for this sale can be found here. Over the last quarter, insiders sold 523,402 shares of company stock valued at $123,604,344. Insiders own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Guggenheim restated a “sell” rating and issued a $190.00 target price on shares of Workday in a research note on Tuesday, June 25th. The Goldman Sachs Group lifted their price objective on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Wells Fargo & Company raised their price target on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price objective on shares of Workday in a report on Thursday, September 19th. Finally, Evercore ISI reduced their target price on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, Workday has a consensus rating of “Moderate Buy” and a consensus price target of $287.04.

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.