Larson Financial Group LLC Boosts Stock Position in Workday, Inc. (NASDAQ:WDAY)

Larson Financial Group LLC grew its stake in Workday, Inc. (NASDAQ:WDAY) by 80.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 754 shares of the software maker’s stock after purchasing an additional 335 shares during the period. Larson Financial Group LLC’s holdings in Workday were worth $184,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. ORG Partners LLC increased its stake in Workday by 3,717.9% in the 2nd quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after buying an additional 3,123 shares during the period. Grafton Street Partners Fund LP acquired a new position in shares of Workday during the third quarter worth about $4,424,000. ICICI Prudential Asset Management Co Ltd raised its holdings in Workday by 32.4% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after purchasing an additional 7,802 shares in the last quarter. Legal & General Group Plc lifted its position in Workday by 7.4% in the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after purchasing an additional 118,180 shares during the period. Finally, Atria Investments Inc boosted its holdings in Workday by 19.3% in the 3rd quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock valued at $10,833,000 after purchasing an additional 7,175 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Trading Down 6.2 %

NASDAQ WDAY opened at $253.40 on Thursday. The company has a market cap of $67.15 billion, a P/E ratio of 44.15, a P/E/G ratio of 5.31 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 company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The company has a 50-day moving average of $248.62 and a 200-day moving average of $237.33.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the business posted $0.47 earnings per share. Workday’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, equities analysts predict that Workday, Inc. will post 2.4 earnings per share for the current year.

Insider Activity at Workday

In other news, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the transaction, the insider now directly owns 85,795 shares of the company’s stock, valued at $20,228,745.10. The trade was a 3.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 102,997 shares of the company’s stock, valued at $26,902,816.40. The trade was a 39.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 359,954 shares of company stock worth $88,742,132. 20.00% of the stock is owned by insiders.

Analysts Set New Price Targets

WDAY has been the subject of a number of analyst reports. BMO Capital Markets reissued an “outperform” rating and set a $300.00 target price on shares of Workday in a research note on Wednesday, September 18th. Barclays decreased their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday. JMP Securities reiterated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a report on Thursday, September 19th. The Goldman Sachs Group boosted their price objective on shares of Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Wells Fargo & Company lifted their price target on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $288.14.

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.