Workday, Inc. (NASDAQ:WDAY) Shares Acquired by Quest Partners LLC

Quest Partners LLC boosted its holdings in Workday, Inc. (NASDAQ:WDAY) by 98.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,472 shares of the software maker’s stock after acquiring an additional 1,225 shares during the period. Quest Partners LLC’s holdings in Workday were worth $604,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its holdings in shares of Workday by 13.4% during the 1st quarter. Bessemer Group Inc. now owns 2,396 shares of the software maker’s stock worth $654,000 after purchasing an additional 283 shares during the period. Shell Asset Management Co. acquired a new stake in shares of Workday during the first quarter valued at about $323,000. Canada Pension Plan Investment Board raised its stake in shares of Workday by 171.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 73,268 shares of the software maker’s stock valued at $19,984,000 after acquiring an additional 46,231 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Workday by 1.5% in the 1st quarter. Lazard Asset Management LLC now owns 65,005 shares of the software maker’s stock worth $17,730,000 after acquiring an additional 983 shares during the last quarter. Finally, BOKF NA boosted its position in shares of Workday by 946.2% during the 1st quarter. BOKF NA now owns 2,448 shares of the software maker’s stock worth $667,000 after purchasing an additional 2,214 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total transaction of $738,934.52. Following the transaction, the insider now owns 85,795 shares of the company’s stock, valued at $20,228,745.10. This trade represents a 3.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $242.01, for a total value of $13,552,560.00. Following the sale, the insider now directly owns 281,000 shares of the company’s stock, valued at approximately $68,004,810. This represents a 16.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 370,575 shares of company stock valued at $91,506,897 in the last ninety days. 20.00% of the stock is currently owned by company insiders.

Workday Stock Down 0.1 %

WDAY opened at $267.75 on Friday. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. 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 $70.95 billion, a P/E ratio of 46.65, a price-to-earnings-growth ratio of 5.16 and a beta of 1.35. The business’s 50-day simple moving average is $247.71 and its 200-day simple moving average is $237.07.

Workday (NASDAQ:WDAY) last released its quarterly 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 analyst estimates of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 earnings per share. Analysts anticipate that Workday, Inc. will post 2.4 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Needham & Company LLC cut their target price on Workday from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Loop Capital raised their target price on Workday from $255.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Stifel Nicolaus lifted their target price on Workday from $250.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Bank of America increased their price target on shares of Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Citigroup dropped their price objective on shares of Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $289.46.

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.