Wasatch Advisors LP Buys 4,787 Shares of Workday, Inc. (NASDAQ:WDAY)

Wasatch Advisors LP grew its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 69.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 11,687 shares of the software maker’s stock after acquiring an additional 4,787 shares during the quarter. Wasatch Advisors LP’s holdings in Workday were worth $2,856,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its position in shares of Workday by 0.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after buying an additional 14,159 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Workday by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock worth $482,133,000 after buying an additional 75,747 shares during the last quarter. Legal & General Group Plc lifted its position in shares of 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 buying an additional 118,180 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of 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 buying an additional 153,577 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Workday by 0.4% during the 3rd quarter. Van ECK Associates Corp now owns 934,828 shares of the software maker’s stock worth $226,266,000 after buying an additional 4,127 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on WDAY shares. Scotiabank began coverage on Workday in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $300.00 price target on shares of Workday in a research note on Monday, November 25th. KeyCorp lifted their price target on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. JMP Securities reissued a “market outperform” rating and set a $315.00 price target on shares of Workday in a research note on Thursday, September 19th. Finally, The Goldman Sachs Group lifted their price target on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $288.14.

Workday Trading Down 1.3 %

Shares of WDAY stock opened at $249.99 on Monday. 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 fifty-two week low of $199.81 and a fifty-two week high of $311.28. The stock has a 50 day simple moving average of $248.77 and a two-hundred day simple moving average of $237.30. The company has a market cap of $66.25 billion, a P/E ratio of 41.46, a PEG ratio of 4.96 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.21% and a net margin of 19.86%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the firm posted $0.47 earnings per share. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. Research analysts forecast that Workday, Inc. will post 2.4 earnings per share for the current year.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 $26,902,816.40. The trade was a 39.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Wayne A.I. Frederick sold 1,828 shares of Workday stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the transaction, the director now directly owns 8,674 shares in the company, valued at approximately $2,097,806.90. The trade was a 17.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 359,954 shares of company stock valued at $88,742,132. Company 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.