1832 Asset Management L.P. Increases Holdings in Workday, Inc. (NASDAQ:WDAY)

1832 Asset Management L.P. increased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 648,788.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 175,200 shares of the software maker’s stock after purchasing an additional 175,173 shares during the period. 1832 Asset Management L.P. owned 0.07% of Workday worth $39,168,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in shares of Workday by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 199,304 shares of the software maker’s stock valued at $55,020,000 after acquiring an additional 3,231 shares during the period. D.A. Davidson & CO. boosted its holdings in Workday by 3.5% in the 4th quarter. D.A. Davidson & CO. now owns 1,241 shares of the software maker’s stock valued at $343,000 after purchasing an additional 42 shares during the period. Corient Private Wealth LLC grew its position in shares of Workday by 17.3% during the 4th quarter. Corient Private Wealth LLC now owns 39,094 shares of the software maker’s stock valued at $10,792,000 after purchasing an additional 5,764 shares in the last quarter. Advisory Services Network LLC increased its holdings in shares of Workday by 7.5% in the fourth quarter. Advisory Services Network LLC now owns 1,981 shares of the software maker’s stock worth $547,000 after purchasing an additional 139 shares during the period. Finally, Congress Wealth Management LLC DE raised its position in shares of Workday by 2.4% in the fourth quarter. Congress Wealth Management LLC DE now owns 1,658 shares of the software maker’s stock worth $458,000 after buying an additional 39 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Trading Up 0.3 %

NASDAQ:WDAY opened at $248.29 on Monday. The firm has a market capitalization of $65.80 billion, a P/E ratio of 44.74, a P/E/G ratio of 5.07 and a beta of 1.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week 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 company has a fifty day moving average of $237.48 and a 200 day moving average of $241.95.

Workday (NASDAQ:WDAY) last posted its 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. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. Workday’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 earnings per share. On average, research analysts predict that Workday, Inc. will post 2.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 78,279 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $23,059,998.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $260.32, for a total value of $1,952,400.00. Following the completion of the sale, the director now directly owns 97,500 shares in the company, valued at $25,381,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder David A. Duffield sold 78,279 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $223.89, for a total value of $17,525,885.31. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $23,059,998.33. The disclosure for this sale can be found here. In the last 90 days, insiders sold 467,402 shares of company stock worth $109,864,184. 20.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Morgan Stanley reduced their target price on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Barclays raised their target price on shares of Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Evercore ISI cut their price target on shares of Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Finally, Loop Capital raised their price objective on shares of Workday from $240.00 to $255.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $286.48.

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.