1832 Asset Management L.P. Raises Stake in Workday, Inc. (NASDAQ:WDAY)

1832 Asset Management L.P. boosted its holdings in Workday, Inc. (NASDAQ:WDAY) by 648,788.9% during the second quarter, Holdings Channel.com reports. The firm owned 175,200 shares of the software maker’s stock after acquiring an additional 175,173 shares during the quarter. 1832 Asset Management L.P.’s holdings in Workday were worth $39,168,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Crewe Advisors LLC bought a new stake in shares of Workday in the 1st quarter worth approximately $27,000. Sound Income Strategies LLC grew its stake in shares of Workday by 74.2% in the first 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 grew its stake in shares of Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after acquiring an additional 129 shares during the last quarter. Pacific Center for Financial Services increased its holdings in shares of Workday by 57.0% during the first quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock valued at $43,000 after acquiring an additional 57 shares in the last quarter. Finally, Asset Dedication LLC purchased a new position in shares of Workday in the 2nd quarter worth about $36,000. Institutional investors own 89.81% of the company’s stock.

Workday Trading Up 0.3 %

NASDAQ:WDAY opened at $248.29 on Monday. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The business has a fifty day moving average price of $237.48 and a 200-day moving average price of $241.95. The firm has a market capitalization of $65.80 billion, a price-to-earnings ratio of 44.74, a price-to-earnings-growth ratio of 5.07 and a beta of 1.35. 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 (NASDAQ:WDAY) last issued 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 business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the prior year, the business posted $0.40 earnings per share. The business’s quarterly revenue was up 16.5% on a year-over-year basis. Sell-side analysts forecast that Workday, Inc. will post 2.39 EPS for the current year.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $247.59, for a total value of $14,112,630.00. Following the completion of the transaction, the insider now directly owns 505,000 shares in the company, valued at $125,032,950. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 674,000 shares of the company’s stock, valued at $150,841,200. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total value of $14,112,630.00. Following the completion of the transaction, the insider now directly owns 505,000 shares of the company’s stock, valued at approximately $125,032,950. The disclosure for this sale can be found here. In the last ninety days, insiders sold 467,402 shares of company stock valued at $109,864,184. 20.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

WDAY has been the topic of several recent analyst reports. Piper Sandler reissued an “overweight” rating and set a $285.00 price objective on shares of Workday in a research report on Wednesday, September 18th. Evercore ISI reduced their price target on shares of Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Morgan Stanley cut their target price on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Finally, Bank of America boosted their price target on Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $286.48.

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.