Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 100.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,533 shares of the software maker’s stock after acquiring an additional 83,793 shares during the period. Douglas Lane & Associates LLC owned about 0.06% of Workday worth $40,947,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Crewe Advisors LLC acquired a new stake in Workday in the 1st quarter valued at about $27,000. Sound Income Strategies LLC raised its position in Workday by 74.2% in 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% in 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. Goodman Advisory Group LLC acquired a new stake in Workday in the 2nd quarter valued at about $35,000. Finally, Asset Dedication LLC acquired a new stake in Workday in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Buying and Selling

In related news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the completion of the transaction, the director now directly owns 97,500 shares of the company’s stock, valued at approximately $25,381,200. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.29, for a total value of $812,365.09. Following the completion of the transaction, the insider now directly owns 196,344 shares of the company’s stock, valued at $51,106,379.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the sale, the director now directly owns 97,500 shares in the company, valued at $25,381,200. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 312,747 shares of company stock valued at $77,512,235. 20.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citigroup reduced their price target on Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. Morgan Stanley cut their target price on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. BMO Capital Markets reissued an “outperform” rating and set a $300.00 target price on shares of Workday in a research report on Wednesday, September 18th. Barclays raised their target price on Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Guggenheim reissued a “sell” rating and set a $190.00 target price on shares of Workday in a research report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and an average price target of $287.04.

Workday Price Performance

Shares of Workday stock traded down $4.26 during trading on Friday, reaching $240.90. The company’s stock had a trading volume of 1,713,210 shares, compared to its average volume of 1,854,040. The business has a 50 day moving average price of $241.97 and a 200-day moving average price of $239.04. The company has a market capitalization of $63.84 billion, a P/E ratio of 43.41, a price-to-earnings-growth ratio of 4.87 and a beta of 1.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month 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.

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. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. Workday’s revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 earnings per share. As a group, sell-side analysts anticipate that Workday, Inc. will post 2.4 EPS for the current year.

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.