Lombard Odier Asset Management Europe Ltd Takes Position in Workday, Inc. (NASDAQ:WDAY)

Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of Workday, Inc. (NASDAQ:WDAY) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,406 shares of the software maker’s stock, valued at approximately $1,656,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Carolinas Wealth Consulting LLC increased its stake in shares of Workday by 9.7% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock valued at $106,000 after acquiring an additional 34 shares during the last quarter. Congress Wealth Management LLC DE increased its position in Workday by 2.4% during the 4th quarter. Congress Wealth Management LLC DE now owns 1,658 shares of the software maker’s stock worth $458,000 after purchasing an additional 39 shares in the last quarter. Raleigh Capital Management Inc. increased its position in Workday by 4.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 869 shares of the software maker’s stock worth $240,000 after purchasing an additional 39 shares in the last quarter. D.A. Davidson & CO. increased its position in Workday by 3.5% during the 4th quarter. D.A. Davidson & CO. now owns 1,241 shares of the software maker’s stock worth $343,000 after purchasing an additional 42 shares in the last quarter. Finally, Equitable Trust Co. increased its position in Workday by 5.1% during the 1st quarter. Equitable Trust Co. now owns 883 shares of the software maker’s stock worth $241,000 after purchasing an additional 43 shares in 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 57,000 shares of the stock in a transaction on 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 owns 505,000 shares in the company, valued at approximately $125,032,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Workday news, major shareholder David A. Duffield sold 57,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total transaction of $14,112,630.00. Following the completion of the sale, the insider now directly owns 505,000 shares in the company, valued at approximately $125,032,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 78,279 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 102,997 shares of the company’s stock, valued at $23,059,998.33. The disclosure for this sale can be found here. Insiders sold 467,402 shares of company stock worth $109,864,184 in the last quarter. 20.00% of the stock is owned by company insiders.

Workday Trading Down 1.3 %

Shares of WDAY stock opened at $245.03 on Tuesday. The stock has a 50-day simple moving average of $237.73 and a 200 day simple moving average of $241.81. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The stock has a market capitalization of $64.93 billion, a P/E ratio of 44.15, a P/E/G ratio of 5.07 and a beta of 1.35. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating 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 analysts’ expectations of $2.07 billion. During the same quarter last year, the business posted $0.40 earnings per share. The company’s quarterly revenue was up 16.5% on a year-over-year basis. On average, sell-side analysts expect that Workday, Inc. will post 2.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on WDAY shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Bank of America increased their target price 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. Barclays increased their target price 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. Canaccord Genuity Group reissued a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Friday, September 13th. Finally, KeyCorp upped their price target on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.