Workday, Inc. (NASDAQ:WDAY) Shares Acquired by Caprock Group LLC

Caprock Group LLC grew its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 39.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,660 shares of the software maker’s stock after acquiring an additional 746 shares during the quarter. Caprock Group LLC’s holdings in Workday were worth $595,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crewe Advisors LLC purchased a new position in shares of Workday in the first quarter worth $27,000. Sound Income Strategies LLC raised its stake in Workday by 74.2% in the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after acquiring an additional 49 shares during the last quarter. SouthState Corp lifted its position in Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after acquiring an additional 129 shares during the period. Pacific Center for Financial Services increased its holdings in shares of Workday by 57.0% in the first quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock valued at $43,000 after purchasing an additional 57 shares during the period. Finally, Asset Dedication LLC purchased a new position in shares of Workday in the second quarter worth about $36,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the company’s 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 completion of the sale, the director now owns 90,000 shares of the company’s stock, valued at approximately $22,990,500. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction on 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 transaction, the director now owns 90,000 shares of the company’s stock, valued at $22,990,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.29, for a total value of $812,365.09. Following the completion of the sale, the insider now directly owns 196,344 shares of the company’s stock, valued at $51,106,379.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 523,402 shares of company stock valued at $119,914,724. Corporate insiders own 20.00% of the company’s stock.

Workday Stock Performance

NASDAQ WDAY opened at $255.62 on Thursday. 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 stock’s 50 day simple moving average is $234.31 and its 200-day simple moving average is $244.09. The company has a market cap of $67.74 billion, a PE ratio of 46.06, a price-to-earnings-growth ratio of 5.47 and a beta of 1.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the firm posted $0.40 EPS. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. As a group, equities research analysts anticipate that Workday, Inc. will post 2.27 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on WDAY shares. Morgan Stanley reduced their price target on shares of Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Stifel Nicolaus boosted their target price on shares of Workday from $250.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price target on shares of Workday in a research report on Friday, May 24th. The Goldman Sachs Group decreased their price objective on Workday from $310.00 to $300.00 and set a “buy” rating for the company in a report on Friday, May 24th. Finally, Piper Sandler raised their target price on Workday from $262.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. One investment 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 company’s stock. According to MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and a consensus price target of $288.15.

Workday Company 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.