UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stake in Workday, Inc. (NASDAQ:WDAY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 4.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,972,642 shares of the software maker’s stock after acquiring an additional 75,747 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Workday were worth $482,133,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Meeder Asset Management Inc. raised its position in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares in the last quarter. Kingsview Wealth Management LLC increased its position in shares of Workday by 0.9% in the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock valued at $1,243,000 after buying an additional 43 shares in the last quarter. Diversified Trust Co increased its position in shares of Workday by 1.0% in the second quarter. Diversified Trust Co now owns 4,830 shares of the software maker’s stock valued at $1,080,000 after buying an additional 47 shares in the last quarter. Opal Wealth Advisors LLC increased its position in shares of Workday by 5.2% in the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock valued at $231,000 after buying an additional 47 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. increased its position in shares of Workday by 3.4% in the second quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock valued at $324,000 after buying an additional 48 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WDAY has been the subject of a number of recent analyst reports. Scotiabank initiated coverage on Workday in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price objective for the company. Canaccord Genuity Group restated a “buy” rating and issued a $300.00 price objective on shares of Workday in a research report on Friday, September 13th. Needham & Company LLC restated a “buy” rating and issued a $300.00 price objective on shares of Workday in a research report on Monday. KeyCorp boosted their price target on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Piper Sandler reiterated a “neutral” rating and set a $270.00 price target (down from $285.00) on shares of Workday in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $288.14.

Workday Price Performance

Shares of NASDAQ WDAY opened at $253.40 on Friday. The stock’s 50-day moving average is $248.74 and its two-hundred day moving average is $237.44. 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 company has a market cap of $67.15 billion, a price-to-earnings ratio of 42.02, a price-to-earnings-growth ratio of 5.03 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.21% and a net margin of 19.86%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the business earned $0.47 EPS. Workday’s revenue was up 15.8% on a year-over-year basis. Analysts forecast that Workday, Inc. will post 2.4 EPS for the current fiscal year.

Insider Activity

In other news, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $241.85, for a total value of $442,101.80. Following the transaction, the director now owns 8,674 shares in the company, valued at approximately $2,097,806.90. This represents a 17.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. The trade was a 39.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 359,954 shares of company stock worth $88,742,132. 20.00% of the stock is currently owned by insiders.

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.