New World Advisors LLC Buys 481 Shares of Workday, Inc. (NASDAQ:WDAY)

New World Advisors LLC grew its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 50.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,442 shares of the software maker’s stock after acquiring an additional 481 shares during the period. New World Advisors LLC’s holdings in Workday were worth $352,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. William Blair Investment Management LLC increased its position in Workday by 17.6% during the 1st quarter. William Blair Investment Management LLC now owns 32,442 shares of the software maker’s stock valued at $8,849,000 after purchasing an additional 4,865 shares during the period. ORG Partners LLC raised its stake in Workday by 3,717.9% in the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock worth $721,000 after buying an additional 3,123 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Workday by 3.0% during the first quarter. Nordea Investment Management AB now owns 468,915 shares of the software maker’s stock worth $128,851,000 after buying an additional 13,502 shares during the period. O Shaughnessy Asset Management LLC boosted its position in Workday by 42.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 13,380 shares of the software maker’s stock valued at $3,649,000 after acquiring an additional 3,965 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Workday by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after acquiring an additional 324,540 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of recent research reports. Barclays raised their price objective on Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. The Goldman Sachs Group raised their price target on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Needham & Company LLC reduced their price objective on shares of Workday from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Stifel Nicolaus increased their target price on shares of Workday from $250.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Finally, Bank of America lifted their price target on shares of Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. One investment 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $287.04.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 66,492 shares of Workday 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 sale, the insider now owns 102,997 shares in the company, valued at $26,902,816.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder David A. Duffield sold 66,492 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the transaction, the insider now owns 102,997 shares in the company, valued at $26,902,816.40. This trade represents 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 this link. Also, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 505,000 shares of the company’s stock, valued at $125,032,950. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 370,575 shares of company stock worth $91,506,897. Company insiders own 20.00% of the company’s stock.

Workday Price Performance

Shares of NASDAQ:WDAY traded up $0.89 during trading on Friday, reaching $237.71. 1,339,903 shares of the company’s stock traded hands, compared to its average volume of 2,132,286. 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, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company has a 50-day simple moving average of $247.09 and a 200-day simple moving average of $237.03. The firm has a market cap of $62.99 billion, a PE ratio of 42.83, a P/E/G ratio of 4.90 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating 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 business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the previous year, the business earned $0.40 earnings per share. The business’s revenue was up 16.5% compared to the same quarter last year. As a group, analysts predict that Workday, Inc. will post 2.4 earnings per share for the current year.

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.