10,794 Shares in Workday, Inc. (NASDAQ:WDAY) Acquired by Delta Investment Management LLC

Delta Investment Management LLC acquired a new stake in shares of Workday, Inc. (NASDAQ:WDAY) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 10,794 shares of the software maker’s stock, valued at approximately $2,413,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in shares of Workday during the 1st quarter valued at about $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 valued at $31,000 after purchasing an additional 49 shares during the last quarter. SouthState Corp raised its stake in Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after purchasing an additional 129 shares during the last quarter. Asset Dedication LLC acquired a new position in Workday in the 2nd quarter valued at $36,000. Finally, PSI Advisors LLC acquired a new position in Workday in the 2nd quarter valued at $38,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Trading Down 1.4 %

Shares of Workday stock opened at $243.37 on Thursday. The company’s fifty day simple moving average is $237.96 and its 200-day simple moving average is $241.69. The company has a market cap of $64.49 billion, a price-to-earnings ratio of 43.85, a PEG ratio of 4.91 and a beta of 1.35. 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 1 year low of $199.81 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly 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 firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the previous year, the company earned $0.40 earnings per share. The business’s revenue was up 16.5% compared to the same quarter last year. As a group, sell-side analysts expect that Workday, Inc. will post 2.39 EPS for the current year.

Insiders Place Their Bets

In other Workday news, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction on Monday, July 8th. The shares were sold at an average price of $226.67, for a total transaction of $710,383.78. Following the sale, the insider now owns 92,014 shares in the company, valued at $20,856,813.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 674,000 shares in the company, valued at approximately $150,841,200. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Richard Harry Sauer sold 3,134 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $226.67, for a total transaction of $710,383.78. Following the transaction, the insider now owns 92,014 shares in the company, valued at approximately $20,856,813.38. The disclosure for this sale can be found here. Insiders have sold 523,402 shares of company stock worth $123,604,344 over the last 90 days. Corporate insiders own 20.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WDAY. DA Davidson increased their price target on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft increased their price target on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Loop Capital increased their price target on Workday from $240.00 to $255.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Barclays increased their price target on Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus increased their price target on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $287.04.

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.