Verdence Capital Advisors LLC Grows Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Verdence Capital Advisors LLC grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 8.6% during the third quarter, HoldingsChannel reports. The firm owned 7,666 shares of the software maker’s stock after purchasing an additional 610 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Workday were worth $1,874,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. William Blair Investment Management LLC increased its position in shares of Workday by 17.6% in the first quarter. William Blair Investment Management LLC now owns 32,442 shares of the software maker’s stock worth $8,849,000 after acquiring an additional 4,865 shares in the last quarter. ORG Partners LLC increased its holdings 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 purchasing an additional 3,123 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Workday by 42.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 13,380 shares of the software maker’s stock worth $3,649,000 after purchasing an additional 3,965 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Workday by 2.2% in the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after buying an additional 324,540 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of 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 buying an additional 118,180 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WDAY. Stifel Nicolaus boosted their target price on shares of Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Morgan Stanley cut their price objective on shares of Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. JMP Securities restated a “market outperform” rating and set a $315.00 target price on shares of Workday in a research note on Thursday, September 19th. KeyCorp lifted their target price on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Workday from $265.00 to $275.00 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 given a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.04.

Workday Stock Down 0.6 %

Shares of Workday stock opened at $256.54 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The business’s fifty day moving average price is $245.75 and its two-hundred day moving average price is $236.07. The company has a market capitalization of $67.98 billion, a P/E ratio of 44.69, a PEG ratio of 5.09 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping the consensus estimate of $1.65 by $0.10. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 earnings per share. As a group, research analysts forecast that Workday, Inc. will post 2.4 EPS for the current year.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $242.01, for a total value of $13,552,560.00. Following the completion of the sale, the insider now directly owns 281,000 shares in the company, valued at $68,004,810. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction 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 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 SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the completion of the sale, the insider now directly owns 281,000 shares of the company’s stock, valued at approximately $68,004,810. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 370,575 shares of company stock valued at $91,506,897. Corporate insiders own 20.00% of the company’s stock.

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.