Choreo LLC Buys 6,786 Shares of Workday, Inc. (NASDAQ:WDAY)

Choreo LLC grew its stake in Workday, Inc. (NASDAQ:WDAY) by 209.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,026 shares of the software maker’s stock after acquiring an additional 6,786 shares during the quarter. Choreo LLC’s holdings in Workday were worth $2,252,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in WDAY. Vanguard Group Inc. grew its stake in Workday by 2.2% in the first 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. Norges Bank bought a new position in shares of Workday during the 4th quarter worth approximately $1,491,149,000. Sustainable Growth Advisers LP lifted its position in Workday by 9.7% during the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after acquiring an additional 301,463 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Workday by 12.4% in the first quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock valued at $693,382,000 after acquiring an additional 281,207 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in Workday by 5.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,511,764 shares of the software maker’s stock worth $417,338,000 after purchasing an additional 75,903 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Workday Trading Up 0.8 %

Workday stock opened at $255.58 on Wednesday. The firm has a market cap of $67.73 billion, a PE ratio of 46.05, a P/E/G ratio of 5.47 and a beta of 1.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The stock’s 50 day simple moving average is $233.71 and its two-hundred day simple moving average is $244.01. 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 (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 earnings per share. Analysts anticipate that Workday, Inc. will post 2.27 earnings per share for the current year.

Insider Transactions 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 stock was sold at an average price of $255.45, for a total value of $1,915,875.00. Following the completion of the transaction, the director now owns 90,000 shares in the company, valued at approximately $22,990,500. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the transaction, the insider now directly owns 730,000 shares of the company’s stock, valued at $159,563,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was 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 of the company’s stock, valued at approximately $22,990,500. The disclosure for this sale can be found here. Insiders have sold a total of 523,402 shares of company stock valued at $119,914,724 in the last ninety days. 20.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Oppenheimer decreased their price objective on Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, May 24th. UBS Group lowered their price target on Workday from $280.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 24th. DA Davidson boosted their price target on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. BMO Capital Markets decreased their price objective on shares of Workday from $338.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Finally, Barclays lifted their target price on shares of Workday from $286.00 to $289.00 and gave the stock 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 given a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $288.15.

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.