Concord Wealth Partners Acquires 51 Shares of Workday, Inc. (NASDAQ:WDAY)

Concord Wealth Partners grew its stake in Workday, Inc. (NASDAQ:WDAY) by 3.0% in the 3rd quarter, Holdings Channel reports. The firm owned 1,765 shares of the software maker’s stock after purchasing an additional 51 shares during the period. Concord Wealth Partners’ holdings in Workday were worth $431,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of WDAY. Crewe Advisors LLC bought a new stake in Workday during the 1st quarter valued at about $27,000. SouthState Corp boosted 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 purchasing an additional 129 shares during the last quarter. Goodman Advisory Group LLC purchased a new position in shares of Workday in the second quarter worth $35,000. Asset Dedication LLC bought a new position in shares of Workday during the second quarter valued at $36,000. Finally, PSI Advisors LLC purchased a new stake in shares of Workday during the second quarter valued at $38,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Price Performance

NASDAQ WDAY traded down $1.12 during trading on Monday, hitting $236.59. 231,139 shares of the stock traded hands, compared to its average volume of 2,122,953. The firm has a 50-day simple moving average of $247.09 and a 200-day simple moving average of $236.82. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $62.70 billion, a P/E ratio of 42.83, a price-to-earnings-growth ratio of 4.72 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 EPS. As a group, analysts predict that Workday, Inc. will post 2.4 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on WDAY. Morgan Stanley lowered their target price on shares of Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Stifel Nicolaus boosted their target price on shares of Workday from $250.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. JMP Securities restated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research note on Thursday, September 19th. The Goldman Sachs Group upped their price objective on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Loop Capital raised their target price on Workday from $240.00 to $255.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. One equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $287.04.

Insider Buying and Selling at Workday

In other news, insider Richard Harry Sauer sold 3,134 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the sale, the insider now directly owns 85,795 shares in the company, valued at approximately $20,228,745.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $26,902,816.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total transaction of $738,934.52. Following the sale, the insider now directly owns 85,795 shares of the company’s stock, valued at $20,228,745.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 370,575 shares of company stock worth $91,506,897 over the last 90 days. 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.