Commerce Bank Sells 39 Shares of Workday, Inc. (NASDAQ:WDAY)

Commerce Bank lowered its position in shares of Workday, Inc. (NASDAQ:WDAY) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,558 shares of the software maker’s stock after selling 39 shares during the quarter. Commerce Bank’s holdings in Workday were worth $625,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in Workday during the third quarter worth $26,000. Meeder Asset Management Inc. lifted its position in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares in the last quarter. New Millennium Group LLC grew its holdings in shares of Workday by 177.4% in the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock valued at $36,000 after acquiring an additional 94 shares in the last quarter. SouthState Corp increased its position in shares of Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after acquiring an additional 129 shares during the last quarter. Finally, Crewe Advisors LLC increased its position in shares of Workday by 56.6% in the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock valued at $35,000 after acquiring an additional 56 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the completion of the sale, the insider now directly owns 281,000 shares in the company, valued at $68,004,810. This represents a 16.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction dated Thursday, September 5th. The shares were 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. This represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 359,954 shares of company stock valued at $88,742,132 over the last three months. 20.00% of the stock is owned by insiders.

Workday Price Performance

WDAY stock opened at $267.69 on Tuesday. The company’s 50-day moving average price is $248.08 and its two-hundred day moving average price is $237.05. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a market cap of $70.94 billion, a P/E ratio of 46.64, a P/E/G ratio of 5.31 and a beta of 1.35.

Analysts Set New Price Targets

WDAY has been the subject of a number of analyst reports. Morgan Stanley decreased their price target on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. The Goldman Sachs Group increased their price target on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Bank of America boosted their price objective on shares of Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $300.00 target price on shares of Workday in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and an average price target of $289.46.

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.