Ascent Group LLC Raises Stock Position in Workday, Inc. (NASDAQ:WDAY)

Ascent Group LLC raised its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 6.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,370 shares of the software maker’s stock after acquiring an additional 202 shares during the quarter. Ascent Group LLC’s holdings in Workday were worth $824,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in Workday in the 3rd quarter valued at about $26,000. Meeder Asset Management Inc. raised its position in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after buying an additional 43 shares during the last quarter. True Wealth Design LLC lifted its stake in shares of Workday by 4,766.7% in the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after buying an additional 143 shares in the last quarter. New Millennium Group LLC boosted its position in Workday by 177.4% during the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after acquiring an additional 94 shares during the last quarter. Finally, SouthState Corp grew its stake in Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after acquiring an additional 129 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Performance

Shares of WDAY stock opened at $257.06 on Wednesday. The firm has a 50 day moving average of $249.10 and a two-hundred day moving average of $237.25. The stock has a market capitalization of $68.12 billion, a PE ratio of 42.63, a P/E/G ratio of 4.66 and a beta of 1.34. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a 52 week low of $199.81 and a 52 week 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 the consensus estimate of $1.76 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.21% and a net margin of 19.86%. Workday’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 EPS. On average, research analysts predict that Workday, Inc. will post 2.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WDAY shares. Evercore ISI decreased their target price on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. BMO Capital Markets reiterated an “outperform” rating and set a $300.00 price objective on shares of Workday in a research report on Wednesday, September 18th. Scotiabank started coverage on Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price for the company. Barclays reduced their price target on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Finally, KeyCorp upped their price objective on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $288.14.

Insider Activity at Workday

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the completion of the sale, the director now directly owns 90,000 shares of the company’s stock, valued at $22,990,500. The trade was a 7.69 % decrease in their position. 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 the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the completion of the transaction, the director now 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. Insiders have sold a total of 298,960 shares of company stock valued at $72,753,210 over the last 90 days. 20.00% of the stock is owned by corporate insiders.

Workday Company 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.