New Millennium Group LLC Has $36,000 Stock Position in Workday, Inc. (NASDAQ:WDAY)

New Millennium Group LLC increased its holdings in Workday, Inc. (NASDAQ:WDAY) by 177.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147 shares of the software maker’s stock after acquiring an additional 94 shares during the period. New Millennium Group LLC’s holdings in Workday were worth $36,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its stake in shares of Workday by 79.1% in the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after purchasing an additional 1,016,394 shares during the last quarter. Legal & General Group Plc raised its position in Workday by 7.4% in the 2nd 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 during the last quarter. Meritage Group LP lifted its stake in Workday by 27.5% during the 1st quarter. Meritage Group LP now owns 1,277,359 shares of the software maker’s stock valued at $348,400,000 after acquiring an additional 275,883 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Workday by 15.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,167,131 shares of the software maker’s stock worth $260,924,000 after acquiring an additional 153,577 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Workday by 0.4% in the 3rd quarter. Van ECK Associates Corp now owns 934,828 shares of the software maker’s stock worth $226,266,000 after acquiring an additional 4,127 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WDAY. The Goldman Sachs Group boosted their price target on shares of Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. 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. Barclays boosted their price objective on Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Bank of America raised their target price on Workday from $265.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Loop Capital increased their price target on shares of Workday from $255.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and an average target price of $289.46.

Workday Trading Down 0.5 %

Shares of WDAY opened at $258.00 on Tuesday. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The company has a market capitalization of $68.37 billion, a P/E ratio of 45.18, a P/E/G ratio of 5.15 and a beta of 1.35. 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 firm’s 50 day simple moving average is $246.86 and its 200 day simple moving average is $236.54.

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

Insider Activity

In other news, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.29, for a total value of $812,365.09. Following the completion of the sale, the insider now owns 196,344 shares of the company’s stock, valued at approximately $51,106,379.76. This represents a 1.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the completion of the transaction, the director now owns 97,500 shares in the company, valued at approximately $25,381,200. The trade was a 7.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 370,575 shares of company stock worth $91,506,897. 20.00% of the stock is currently owned by insiders.

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.