Lyell Wealth Management LP Acquires 5,026 Shares of Workday, Inc. (NASDAQ:WDAY)

Lyell Wealth Management LP raised its position in Workday, Inc. (NASDAQ:WDAY) by 5.3% during the second quarter, Holdings Channel reports. The firm owned 100,464 shares of the software maker’s stock after buying an additional 5,026 shares during the quarter. Workday comprises 2.1% of Lyell Wealth Management LP’s portfolio, making the stock its 9th largest holding. Lyell Wealth Management LP’s holdings in Workday were worth $22,460,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WDAY. Crewe Advisors LLC purchased a new stake in Workday in the first quarter valued at approximately $27,000. Sound Income Strategies LLC raised its position in Workday by 74.2% in the first 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 during the period. SouthState Corp raised its position in Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after purchasing an additional 129 shares during the period. Asset Dedication LLC purchased a new stake in Workday in the second quarter valued at approximately $36,000. Finally, PSI Advisors LLC purchased a new stake in Workday in the second quarter valued at approximately $38,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

NASDAQ WDAY opened at $250.05 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The company has a market capitalization of $66.26 billion, a PE ratio of 45.05, a P/E/G ratio of 5.40 and a beta of 1.35. The company has a fifty day moving average of $235.24 and a two-hundred day moving average of $243.38.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. As a group, analysts expect that Workday, Inc. will post 2.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WDAY. Bank of America boosted their target price on Workday from $265.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft upped their price objective on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $300.00 price objective on shares of Workday in a research report on Friday. JPMorgan Chase & Co. cut their price objective on Workday from $300.00 to $285.00 and set an “overweight” rating on the stock in a research report on Friday, May 24th. Finally, KeyCorp upped their price objective on Workday from $275.00 to $305.00 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $288.15.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the completion of the sale, the insider now owns 730,000 shares in the company, valued at $159,563,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the completion of the sale, the insider now owns 730,000 shares in the company, valued at $159,563,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $260.29, for a total transaction of $812,365.09. Following the completion of the sale, the insider now owns 196,344 shares of the company’s stock, valued at approximately $51,106,379.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 466,402 shares of company stock worth $107,992,034. Company insiders own 20.00% of the company’s stock.

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.