Pitcairn Co. Has $3.43 Million Position in Workday, Inc. (NASDAQ:WDAY)

Pitcairn Co. grew its position in Workday, Inc. (NASDAQ:WDAY) by 8.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,037 shares of the software maker’s stock after buying an additional 1,153 shares during the quarter. Pitcairn Co.’s holdings in Workday were worth $3,431,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ORG Partners LLC raised its position in shares of 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 buying an additional 3,123 shares in the last quarter. Grafton Street Partners Fund LP acquired a new position in Workday during the 3rd quarter worth approximately $4,424,000. ICICI Prudential Asset Management Co Ltd increased its position in Workday by 32.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after purchasing an additional 7,802 shares in the last quarter. Legal & General Group Plc increased its position in Workday by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after purchasing an additional 118,180 shares in the last quarter. Finally, Atria Investments Inc increased its position in Workday by 19.3% during the 3rd quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock worth $10,833,000 after purchasing an additional 7,175 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Trading Down 0.1 %

NASDAQ:WDAY opened at $267.75 on Friday. 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 52 week low of $199.81 and a 52 week high of $311.28. The firm’s fifty day moving average is $247.71 and its 200-day moving average is $237.07. The firm has a market cap of $70.95 billion, a P/E ratio of 46.65, a P/E/G ratio of 5.32 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the previous year, the company earned $0.40 EPS. Workday’s quarterly revenue was up 16.5% compared to the same quarter last year. Equities analysts expect that Workday, Inc. will post 2.4 earnings per share for the current year.

Insider Activity at Workday

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 in the company, valued at $26,902,816.40. The trade was a 39.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wayne A.I. Frederick sold 1,828 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $241.85, for a total transaction of $442,101.80. Following the transaction, the director now owns 8,674 shares in the company, valued at $2,097,806.90. The trade was a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 370,575 shares of company stock worth $91,506,897 in the last quarter. Company insiders own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. DA Davidson upped their price objective on shares of Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and set a $285.00 price objective on shares of Workday in a research report on Wednesday, September 18th. Loop Capital upped their price objective on shares of Workday from $255.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $289.46.

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.