Los Angeles Capital Management LLC Has $7.45 Million Position in Workday, Inc. (NASDAQ:WDAY)

Los Angeles Capital Management LLC grew its stake in Workday, Inc. (NASDAQ:WDAY) by 12.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,483 shares of the software maker’s stock after buying an additional 3,470 shares during the period. Los Angeles Capital Management LLC’s holdings in Workday were worth $7,450,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC boosted its holdings in shares of Workday by 149.6% during the 1st quarter. Empowered Funds LLC now owns 6,995 shares of the software maker’s stock worth $1,908,000 after buying an additional 4,193 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Workday by 14.2% during the first quarter. Oppenheimer & Co. Inc. now owns 3,087 shares of the software maker’s stock valued at $842,000 after acquiring an additional 383 shares in the last quarter. Atomi Financial Group Inc. bought a new position in shares of Workday in the 1st quarter worth $240,000. Concurrent Investment Advisors LLC grew its position in Workday by 60.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 1,501 shares of the software maker’s stock valued at $409,000 after purchasing an additional 567 shares during the period. Finally, QRG Capital Management Inc. increased its stake in Workday by 23.6% during the 1st quarter. QRG Capital Management Inc. now owns 5,926 shares of the software maker’s stock valued at $1,616,000 after purchasing an additional 1,132 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and set a $315.00 price objective on shares of Workday in a report on Thursday, September 19th. Wells Fargo & Company upped their price target on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Citigroup lowered their target price on shares of Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Finally, Evercore ISI cut their price target on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $287.04.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Wayne A.I. Frederick sold 1,828 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the transaction, the director now owns 8,674 shares of the company’s stock, valued at approximately $2,097,806.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 66,492 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $26,902,816.40. This represents 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 have sold 370,575 shares of company stock valued at $91,506,897. 20.00% of the stock is currently owned by corporate insiders.

Workday Stock Up 3.0 %

Workday stock opened at $264.15 on Tuesday. The firm has a 50 day simple moving average of $245.75 and a 200 day simple moving average of $235.79. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The firm has a market capitalization of $70.00 billion, a price-to-earnings ratio of 46.02, a P/E/G ratio of 5.09 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its quarterly earnings data 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 return on equity of 5.34% and a net margin of 19.59%. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the previous year, the company posted $0.40 EPS. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, 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.