E Fund Management Co. Ltd. Acquires 64 Shares of Workday, Inc. (NASDAQ:WDAY)

E Fund Management Co. Ltd. increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 3.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,812 shares of the software maker’s stock after acquiring an additional 64 shares during the period. E Fund Management Co. Ltd.’s holdings in Workday were worth $405,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crewe Advisors LLC bought a new stake in shares of Workday during the 1st quarter worth approximately $27,000. Sound Income Strategies LLC raised its position in Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after purchasing an additional 49 shares in the last quarter. SouthState Corp raised its position in Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after purchasing an additional 129 shares in the last quarter. Asset Dedication LLC bought a new stake in Workday during the 2nd quarter valued at $36,000. Finally, PSI Advisors LLC bought a new stake in Workday during the 2nd quarter valued at $38,000. 89.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WDAY. Needham & Company LLC decreased their target price on Workday from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. decreased their target price on Workday from $300.00 to $285.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Piper Sandler reaffirmed an “overweight” rating and set a $285.00 target price on shares of Workday in a research report on Wednesday. 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. Finally, Wells Fargo & Company lifted their target price on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $286.30.

Workday Stock Up 0.1 %

Shares of WDAY stock opened at $248.47 on Thursday. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The stock’s fifty day moving average price is $236.71 and its 200 day moving average price is $242.43. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The company has a market cap of $65.84 billion, a price-to-earnings ratio of 44.77, a price-to-earnings-growth ratio of 5.07 and a beta of 1.35.

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 company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the firm posted $0.40 EPS. The firm’s revenue was up 16.5% compared to the same quarter last year. On average, research analysts expect that Workday, Inc. will post 2.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 78,279 shares of Workday stock in a transaction dated 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 completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $23,059,998.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder David A. Duffield sold 78,279 shares of the business’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 completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $23,059,998.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 466,402 shares of company stock valued at $107,992,034. 20.00% of the stock is owned by company insiders.

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.