Cerity Partners LLC Purchases 5,189 Shares of Workday, Inc. (NASDAQ:WDAY)

Cerity Partners LLC lifted its position in shares of Workday, Inc. (NASDAQ:WDAY) by 7.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 78,595 shares of the software maker’s stock after acquiring an additional 5,189 shares during the quarter. Cerity Partners LLC’s holdings in Workday were worth $19,209,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its stake in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares in the last quarter. Diversified Trust Co lifted its position in shares of Workday by 1.0% during the second quarter. Diversified Trust Co now owns 4,830 shares of the software maker’s stock worth $1,080,000 after acquiring an additional 47 shares in the last quarter. Opal Wealth Advisors LLC boosted its holdings in shares of Workday by 5.2% in the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after acquiring an additional 47 shares during the period. Mesirow Financial Investment Management Inc. grew its position in shares of Workday by 3.4% in the second quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock valued at $324,000 after purchasing an additional 48 shares in the last quarter. Finally, Aspen Investment Management Inc raised its stake in shares of Workday by 3.1% during the 2nd quarter. Aspen Investment Management Inc now owns 1,650 shares of the software maker’s stock valued at $369,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Price Performance

NASDAQ WDAY opened at $267.75 on Monday. The stock has a market capitalization of $70.95 billion, a price-to-earnings ratio of 46.65, a PEG ratio of 5.31 and a beta of 1.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. 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 business’s fifty day moving average price is $247.71 and its 200-day moving average price is $236.89.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data 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. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 EPS. On average, equities analysts predict that Workday, Inc. will post 2.4 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Scotiabank started coverage on Workday in a research report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price target on the stock. Stifel Nicolaus upped their price target on shares of Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. KeyCorp lifted their price objective on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Friday, September 13th. Finally, Citigroup decreased their price objective on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $289.46.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $242.01, for a total value of $13,552,560.00. Following the transaction, the insider now directly owns 281,000 shares of the company’s stock, valued at approximately $68,004,810. This trade represents a 16.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $255.45, for a total value of $1,915,875.00. Following the sale, the director now directly owns 90,000 shares of the company’s stock, valued at $22,990,500. This represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 359,954 shares of company stock worth $88,742,132. Company insiders own 20.00% of the company’s stock.

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.