Cable Hill Partners LLC Acquires New Position in Workday, Inc. (NASDAQ:WDAY)

Cable Hill Partners LLC acquired a new stake in shares of Workday, Inc. (NASDAQ:WDAY) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 865 shares of the software maker’s stock, valued at approximately $211,000.

Other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of Workday during the 3rd quarter valued at about $26,000. Crewe Advisors LLC bought a new stake in shares of Workday during the 1st quarter valued at about $27,000. SouthState Corp grew its position in shares of 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 buying an additional 129 shares during the last quarter. Goodman Advisory Group LLC bought a new stake in shares of Workday during the 2nd quarter valued at about $35,000. Finally, Asset Dedication LLC bought a new stake in shares of Workday during the 2nd quarter valued at about $36,000. Institutional investors own 89.81% of the company’s stock.

Insider Activity

In other Workday news, Director Wayne A.I. Frederick sold 1,828 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the transaction, the director now owns 8,674 shares in the company, valued at approximately $2,097,806.90. This represents a 17.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard Harry Sauer sold 3,134 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total transaction of $738,934.52. Following the completion of the transaction, the insider now owns 85,795 shares in the company, valued at approximately $20,228,745.10. This represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 370,575 shares of company stock worth $91,506,897 over the last 90 days. 20.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on WDAY shares. Wells Fargo & Company boosted their target price on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Loop Capital boosted their target price on shares of Workday from $255.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday. DA Davidson boosted their target price on shares of Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Citigroup reduced their target price on shares of Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $300.00 target price on shares of Workday in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $287.59.

Workday Stock Down 1.8 %

WDAY stock opened at $271.49 on Friday. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The company’s 50 day simple moving average is $246.33 and its 200-day simple moving average is $236.28. 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 firm has a market capitalization of $71.94 billion, a P/E ratio of 47.30, a P/E/G ratio of 5.49 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the previous year, the business earned $0.40 earnings per share. The firm’s revenue was up 16.5% compared to the same quarter last year. As a group, equities research 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.