Workday, Inc. (NASDAQ:WDAY) Stock Position Increased by Lyell Wealth Management LP

Lyell Wealth Management LP grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,464 shares of the software maker’s stock after buying an additional 5,026 shares during the quarter. Workday accounts for approximately 2.1% of Lyell Wealth Management LP’s holdings, making the stock its 9th biggest holding. Lyell Wealth Management LP’s holdings in Workday were worth $22,460,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in Workday in the 1st quarter worth about $27,000. Sound Income Strategies LLC raised its position in Workday by 74.2% in the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after purchasing an additional 49 shares during the period. SouthState Corp raised its position in Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after purchasing an additional 129 shares during the period. Asset Dedication LLC purchased a new stake in Workday in the 2nd quarter worth about $36,000. Finally, PSI Advisors LLC purchased a new stake in Workday in the 2nd quarter worth about $38,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions 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 Friday, June 21st. The stock was sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the transaction, the insider now directly owns 730,000 shares in the company, valued at approximately $159,563,400. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the transaction, the insider now directly owns 730,000 shares in the company, valued at approximately $159,563,400. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $260.29, for a total value of $812,365.09. Following the transaction, the insider now owns 196,344 shares in the company, valued at $51,106,379.76. The disclosure for this sale can be found here. Insiders have sold a total of 466,402 shares of company stock worth $107,992,034 in the last ninety days. Insiders own 20.00% of the company’s stock.

Wall Street Analyst Weigh In

WDAY has been the topic of a number of research analyst reports. KeyCorp upped their target price on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. BMO Capital Markets reduced their target price on shares of Workday from $338.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Sanford C. Bernstein reduced their target price on shares of Workday from $321.00 to $301.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Oppenheimer reduced their target price on shares of Workday from $320.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Finally, Loop Capital lifted their price objective on shares of Workday from $240.00 to $255.00 and gave the company a “hold” rating in a report on Friday, August 23rd. One equities 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $288.15.

Workday Stock Down 0.5 %

WDAY stock opened at $250.05 on Friday. The stock has a market capitalization of $66.26 billion, a P/E ratio of 45.05, a P/E/G ratio of 5.40 and a beta of 1.35. The firm has a 50-day simple moving average of $235.24 and a 200-day simple moving average of $243.38. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. The business had revenue of $2.09 billion during 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 company’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 earnings per share. Equities analysts forecast that Workday, Inc. will post 2.27 earnings per share for the current fiscal 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.