Cwm LLC Raises Position in Workday, Inc. (NASDAQ:WDAY)

Cwm LLC grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 24.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,800 shares of the software maker’s stock after purchasing an additional 1,549 shares during the period. Cwm LLC’s holdings in Workday were worth $1,907,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Workday by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after purchasing an additional 324,540 shares during the last quarter. Sustainable Growth Advisers LP raised its stake in Workday by 9.7% in the 1st quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock worth $927,998,000 after acquiring an additional 301,463 shares during the last quarter. Clearbridge Investments LLC raised its stake in Workday by 12.4% in the 1st quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock worth $693,382,000 after acquiring an additional 281,207 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Workday by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after acquiring an additional 1,016,394 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Workday by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after acquiring an additional 118,180 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on WDAY shares. Morgan Stanley reduced their target price on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. DA Davidson raised their target price on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Loop Capital lifted their price objective on Workday from $240.00 to $255.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. BMO Capital Markets reiterated an “outperform” rating and set a $300.00 price objective on shares of Workday in a research note on Wednesday, September 18th. Finally, Piper Sandler reiterated an “overweight” rating and set a $285.00 price objective on shares of Workday in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $287.04.

Workday Trading Up 0.7 %

WDAY stock opened at $242.47 on Tuesday. 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, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The stock has a market cap of $64.25 billion, a price-to-earnings ratio of 43.69, a PEG ratio of 4.87 and a beta of 1.35. The business’s 50-day moving average is $242.67 and its 200 day moving average is $238.58.

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

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,902,816.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,902,816.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $247.59, for a total transaction of $14,112,630.00. Following the sale, the insider now directly owns 505,000 shares in the company, valued at approximately $125,032,950. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 312,747 shares of company stock valued at $77,512,235 in the last ninety days. 20.00% of the stock is currently owned by corporate 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.