Tranquility Partners LLC Makes New $213,000 Investment in Workday, Inc. (NASDAQ:WDAY)

Tranquility Partners LLC bought a new position in Workday, Inc. (NASDAQ:WDAY) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 872 shares of the software maker’s stock, valued at approximately $213,000.

Other institutional investors have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC raised its position in Workday by 42.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 13,380 shares of the software maker’s stock worth $3,649,000 after buying an additional 3,965 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Workday by 13.4% during the first quarter. Bessemer Group Inc. now owns 2,396 shares of the software maker’s stock valued at $654,000 after purchasing an additional 283 shares during the last quarter. Lake Street Advisors Group LLC bought a new position in Workday during the first quarter valued at approximately $214,000. MQS Management LLC bought a new position in Workday during the first quarter valued at approximately $379,000. Finally, Crewe Advisors LLC purchased a new stake in Workday in the first quarter worth approximately $27,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Activity at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the transaction, the insider now owns 281,000 shares of the company’s stock, valued at approximately $68,004,810. The trade was a 16.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Wayne A.I. Frederick sold 1,828 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $241.85, for a total value of $442,101.80. Following the completion of the sale, the director now owns 8,674 shares of the company’s stock, valued at approximately $2,097,806.90. This represents a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 370,575 shares of company stock valued at $91,506,897 over the last 90 days. 20.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WDAY. Morgan Stanley reduced their price objective on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $285.00 price target on shares of Workday in a research report on Wednesday, September 18th. Loop Capital raised their price objective on shares of Workday from $255.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. The Goldman Sachs Group boosted their target price on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Wells Fargo & Company increased their price target on shares of Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. One investment 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $289.46.

Workday Trading Up 0.2 %

Shares of WDAY stock opened at $259.90 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $68.87 billion, a price-to-earnings ratio of 45.28, a price-to-earnings-growth ratio of 5.15 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 stock’s 50-day moving average price is $246.94 and its 200-day moving average price is $236.57.

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, topping analysts’ consensus estimates of $1.65 by $0.10. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. Equities research analysts predict that Workday, Inc. will post 2.4 EPS for the current fiscal 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.