1,389 Shares in Workday, Inc. (NASDAQ:WDAY) Acquired by MQS Management LLC

MQS Management LLC purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,389 shares of the software maker’s stock, valued at approximately $379,000.

Other hedge funds have also added to or reduced their stakes in the company. Sound Income Strategies LLC increased its stake in Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after acquiring an additional 49 shares during the period. CVA Family Office LLC bought a new position in Workday during the 4th quarter worth $33,000. Friedenthal Financial bought a new position in Workday during the 4th quarter worth $43,000. VisionPoint Advisory Group LLC increased its stake in Workday by 27.6% during the 4th quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock worth $43,000 after acquiring an additional 34 shares during the period. Finally, Planned Solutions Inc. bought a new position in Workday during the 4th quarter worth $55,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Stock Performance

Shares of NASDAQ:WDAY traded up $6.56 during trading on Thursday, hitting $227.08. 2,263,462 shares of the company were exchanged, compared to its average volume of 2,188,550. The company has a market cap of $60.18 billion, a PE ratio of 40.92, a P/E/G ratio of 5.70 and a beta of 1.35. The stock has a 50 day moving average of $223.74 and a 200 day moving average of $257.45. Workday, Inc. has a 52-week low of $202.01 and a 52-week high of $311.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.20. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. Workday had a return on equity of 5.78% and a net margin of 19.66%. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.16 earnings per share. As a group, equities research analysts predict that Workday, Inc. will post 2.12 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on WDAY. Citigroup decreased their price target on Workday from $293.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. Wells Fargo & Company decreased their price target on Workday from $325.00 to $275.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. JPMorgan Chase & Co. cut their price objective on Workday from $300.00 to $285.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. Canaccord Genuity Group cut their price objective on Workday from $305.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Finally, BMO Capital Markets cut their price objective on Workday from $338.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, Workday has an average rating of “Moderate Buy” and an average price target of $281.44.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $229.32, for a total value of $12,841,920.00. Following the transaction, the insider now owns 562,000 shares of the company’s stock, valued at $128,877,840. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $229.32, for a total value of $12,841,920.00. Following the transaction, the insider now owns 562,000 shares of the company’s stock, valued at $128,877,840. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total value of $669,267.24. Following the completion of the transaction, the insider now directly owns 204,066 shares in the company, valued at approximately $43,759,913.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 524,672 shares of company stock valued at $115,938,834. 20.00% of the stock is currently owned by company 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.