Grassi Investment Management purchased a new position in Workday Inc (NASDAQ:WDAY) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,375 shares of the software maker’s stock, valued at approximately $914,000.
Other hedge funds have also recently modified their holdings of the company. Advisory Alpha LLC purchased a new stake in Workday in the first quarter worth $30,000. Banco de Sabadell S.A purchased a new stake in shares of Workday in the second quarter worth $31,000. Carroll Financial Associates Inc. grew its stake in shares of Workday by 47.4% in the second quarter. Carroll Financial Associates Inc. now owns 168 shares of the software maker’s stock worth $34,000 after acquiring an additional 54 shares during the last quarter. North Star Investment Management Corp. purchased a new stake in shares of Workday in the third quarter worth $34,000. Finally, Advantage Investment Management LLC grew its stake in shares of Workday by 89.0% in the second quarter. Advantage Investment Management LLC now owns 189 shares of the software maker’s stock worth $39,000 after acquiring an additional 89 shares during the last quarter. 66.62% of the stock is currently owned by institutional investors.
WDAY stock traded up $1.63 during trading on Friday, reaching $173.72. The stock had a trading volume of 45,157 shares, compared to its average volume of 2,054,849. Workday Inc has a 52 week low of $117.72 and a 52 week high of $226.83. The stock’s 50 day moving average is $177.76 and its two-hundred day moving average is $196.74. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. The firm has a market cap of $38.47 billion, a PE ratio of -142.52 and a beta of 1.53.
WDAY has been the topic of a number of recent research reports. Compass Point initiated coverage on Workday in a research note on Tuesday, August 13th. They issued a “buy” rating and a $238.00 target price on the stock. Goldman Sachs Group set a $223.00 target price on Workday and gave the stock a “hold” rating in a research note on Friday, August 30th. Stifel Nicolaus increased their target price on Workday from $195.00 to $210.00 and gave the stock a “hold” rating in a research note on Friday, August 30th. Northland Securities set a $225.00 target price on Workday and gave the stock a “hold” rating in a research note on Friday, August 30th. Finally, KeyCorp set a $235.00 target price on Workday and gave the stock a “buy” rating in a research note on Thursday, August 29th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty have given a buy rating to the company’s stock. Workday presently has an average rating of “Hold” and a consensus target price of $212.45.
In other Workday news, Director David A. Duffield sold 281 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $219.67, for a total value of $61,727.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James P. Shaughnessy sold 1,500 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $219.32, for a total value of $328,980.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,038,975 shares of company stock worth $191,615,842. 29.80% of the stock is owned by corporate insiders.
Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.
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