AE Wealth Management LLC Grows Stock Position in Workday, Inc. (NASDAQ:WDAY)

AE Wealth Management LLC raised its position in Workday, Inc. (NASDAQ:WDAY) by 8.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,392 shares of the software maker’s stock after acquiring an additional 851 shares during the quarter. AE Wealth Management LLC’s holdings in Workday were worth $2,547,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in WDAY. Hollencrest Capital Management grew its holdings in Workday by 13.0% during the 2nd quarter. Hollencrest Capital Management now owns 1,041 shares of the software maker’s stock valued at $233,000 after purchasing an additional 120 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Workday by 38.4% during the second quarter. Canada Pension Plan Investment Board now owns 101,370 shares of the software maker’s stock valued at $22,662,000 after acquiring an additional 28,102 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Workday by 11.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,361 shares of the software maker’s stock worth $304,000 after acquiring an additional 136 shares during the last quarter. Ieq Capital LLC lifted its stake in shares of Workday by 5.8% in the second quarter. Ieq Capital LLC now owns 19,183 shares of the software maker’s stock worth $4,289,000 after acquiring an additional 1,054 shares in the last quarter. Finally, Brighton Jones LLC boosted its holdings in Workday by 60.9% in the second quarter. Brighton Jones LLC now owns 1,260 shares of the software maker’s stock valued at $282,000 after purchasing an additional 477 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $223.80, for a total value of $12,532,800.00. Following the completion of the sale, the insider now owns 674,000 shares of the company’s stock, valued at $150,841,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $223.80, for a total value of $12,532,800.00. Following the completion of the sale, the insider now directly owns 674,000 shares of the company’s stock, valued at approximately $150,841,200. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of the firm’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 transaction of $14,112,630.00. Following the transaction, the insider now owns 505,000 shares in the company, valued at approximately $125,032,950. The disclosure for this sale can be found here. In the last quarter, insiders sold 467,402 shares of company stock worth $109,864,184. 20.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on WDAY. Bank of America lifted their price objective on Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. KeyCorp upped their price target on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. BMO Capital Markets reiterated an “outperform” rating and set a $300.00 price objective on shares of Workday in a research note on Wednesday, September 18th. Needham & Company LLC dropped their target price on shares of Workday from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Barclays increased their price target on shares of Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. One investment 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 company. Based on data from MarketBeat, Workday has an average rating of “Moderate Buy” and an average target price of $286.48.

Workday Trading Up 0.3 %

Shares of NASDAQ:WDAY opened at $248.29 on Monday. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two 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 market cap of $65.80 billion, a PE ratio of 44.74, a P/E/G ratio of 5.07 and a beta of 1.35. The company’s 50-day moving average price is $237.48 and its 200 day moving average price is $241.95.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $2.07 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. The business’s revenue was up 16.5% on a year-over-year basis. Sell-side analysts anticipate that Workday, Inc. will post 2.39 earnings per share for the current year.

Workday Company 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.