7,406 Shares in Workday, Inc. (NASDAQ:WDAY) Acquired by Lombard Odier Asset Management Europe Ltd

Lombard Odier Asset Management Europe Ltd bought a new position in Workday, Inc. (NASDAQ:WDAY) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 7,406 shares of the software maker’s stock, valued at approximately $1,656,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Harmony Asset Management LLC lifted its holdings in Workday by 49.9% in the 2nd quarter. Harmony Asset Management LLC now owns 1,367 shares of the software maker’s stock worth $306,000 after purchasing an additional 455 shares during the last quarter. D1 Capital Partners L.P. lifted its holdings in Workday by 152.1% in the 2nd quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock worth $115,804,000 after purchasing an additional 312,500 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Workday by 79.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,118 shares of the software maker’s stock worth $254,000 after purchasing an additional 496 shares during the last quarter. Fernbridge Capital Management LP lifted its holdings in Workday by 60.2% in the 2nd quarter. Fernbridge Capital Management LP now owns 316,249 shares of the software maker’s stock worth $70,701,000 after purchasing an additional 118,868 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in shares of Workday by 648,788.9% during the second quarter. 1832 Asset Management L.P. now owns 175,200 shares of the software maker’s stock worth $39,168,000 after buying an additional 175,173 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Price Performance

Shares of WDAY stock opened at $245.03 on Tuesday. The stock’s fifty day moving average is $237.73 and its 200-day moving average is $241.81. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a market capitalization of $64.93 billion, a PE ratio of 44.15, a PEG ratio of 5.07 and a beta of 1.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. Equities research analysts expect that Workday, Inc. will post 2.39 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 674,000 shares of the company’s stock, valued at $150,841,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 674,000 shares of the company’s stock, valued at $150,841,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 78,279 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $223.89, for a total value of $17,525,885.31. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $23,059,998.33. The disclosure for this sale can be found here. Insiders have sold 467,402 shares of company stock valued at $109,864,184 over the last 90 days. 20.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on WDAY. Wells Fargo & Company upped their price target on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Morgan Stanley cut their price target on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. KeyCorp upped their price target on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. JMP Securities reiterated a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Thursday, September 19th. Finally, Bank of America upped their price target on Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. One research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $286.48.

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.