Motley Fool Asset Management LLC Grows Position in Workday, Inc. (NASDAQ:WDAY)

Motley Fool Asset Management LLC lifted its holdings in Workday, Inc. (NASDAQ:WDAY) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,185 shares of the software maker’s stock after buying an additional 572 shares during the period. Motley Fool Asset Management LLC’s holdings in Workday were worth $2,932,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Workday by 9.5% during the 2nd quarter. GAMMA Investing LLC now owns 694 shares of the software maker’s stock valued at $155,000 after purchasing an additional 60 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Workday by 167.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 182 shares of the software maker’s stock worth $41,000 after buying an additional 114 shares during the period. Park Avenue Securities LLC lifted its stake in shares of Workday by 37.9% during the 2nd quarter. Park Avenue Securities LLC now owns 9,139 shares of the software maker’s stock worth $2,043,000 after acquiring an additional 2,511 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in Workday by 42.5% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 6,970 shares of the software maker’s stock valued at $1,558,000 after acquiring an additional 2,080 shares during the period. Finally, NBC Securities Inc. grew its position in Workday by 28.0% in the 2nd quarter. NBC Securities Inc. now owns 7,636 shares of the software maker’s stock valued at $1,707,000 after acquiring an additional 1,672 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Price Performance

Workday stock opened at $257.06 on Wednesday. The stock has a market capitalization of $68.12 billion, a P/E ratio of 42.63, a P/E/G ratio of 4.66 and a beta of 1.34. The company’s fifty day moving average price is $249.10 and its 200 day moving average price is $237.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.21%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the company earned $0.47 earnings per share. The company’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, equities research analysts anticipate that Workday, Inc. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Scotiabank initiated coverage on shares of 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 target price on shares of Workday in a research note on Friday, September 13th. Morgan Stanley upped their target price on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. BMO Capital Markets restated an “outperform” rating and set a $300.00 price target on shares of Workday in a research note on Wednesday, September 18th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $270.00 price objective (down from $285.00) on shares of Workday in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $288.14.

Insider Buying and Selling at Workday

In other news, insider Sayan Chakraborty sold 5,498 shares of Workday stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the sale, the insider now owns 121,100 shares of the company’s stock, valued at approximately $30,369,458. The trade was a 4.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total value of $738,934.52. Following the completion of the sale, the insider now owns 85,795 shares in the company, valued at $20,228,745.10. This represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 298,960 shares of company stock valued at $72,753,210 over the last quarter. 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.