Sigma Planning Corp Takes $233,000 Position in Workday, Inc. (NASDAQ:WDAY)

Sigma Planning Corp acquired a new position in Workday, Inc. (NASDAQ:WDAY) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 954 shares of the software maker’s stock, valued at approximately $233,000.

Several other hedge funds also recently added to or reduced their stakes in WDAY. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Workday by 4.4% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,031 shares of the software maker’s stock valued at $281,000 after buying an additional 43 shares during the last quarter. M&G Plc purchased a new stake in Workday in the first quarter valued at approximately $2,292,000. Intech Investment Management LLC increased its holdings in Workday by 7.9% in the 1st quarter. Intech Investment Management LLC now owns 12,960 shares of the software maker’s stock worth $3,535,000 after buying an additional 948 shares during the period. Vanguard Group Inc. raised its position in Workday by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after buying an additional 324,540 shares during the last quarter. Finally, Edgestream Partners L.P. lifted its stake in Workday by 463.9% during the 1st quarter. Edgestream Partners L.P. now owns 14,724 shares of the software maker’s stock valued at $4,016,000 after acquiring an additional 12,113 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,902,816.40. The trade was a 39.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $260.29, for a total value of $812,365.09. Following the sale, the insider now directly owns 196,344 shares in the company, valued at $51,106,379.76. This trade represents a 1.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 370,575 shares of company stock valued at $91,506,897. 20.00% of the stock is currently owned by corporate insiders.

Workday Price Performance

Shares of WDAY opened at $259.41 on Friday. The firm has a 50-day simple moving average of $246.74 and a two-hundred day simple moving average of $236.60. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The stock has a market cap of $68.74 billion, a PE ratio of 45.19, a P/E/G ratio of 5.39 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping 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 analysts’ expectations of $2.07 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. The firm’s revenue was up 16.5% compared to the same quarter last year. As a group, analysts forecast that Workday, Inc. will post 2.4 EPS for the current year.

Analyst Ratings Changes

WDAY has been the topic of several analyst reports. Needham & Company LLC dropped their target price on Workday from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Bank of America increased their price target on Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Piper Sandler restated an “overweight” rating and issued a $285.00 price objective on shares of Workday in a research report on Wednesday, September 18th. Morgan Stanley decreased their target price on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Finally, Barclays boosted their price target on shares of Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. One research 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 stock. According to MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and an average price target of $287.59.

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.