Workday, Inc. (NASDAQ:WDAY) Shares Bought by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC lifted its holdings in Workday, Inc. (NASDAQ:WDAY) by 12.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,115 shares of the software maker’s stock after buying an additional 120 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Workday were worth $273,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its stake in shares of Workday by 79.1% in the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after purchasing an additional 1,016,394 shares during the period. Van ECK Associates Corp boosted its stake in shares of Workday by 17,345.2% in the second quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock valued at $208,068,000 after purchasing an additional 925,366 shares during the period. Vanguard Group Inc. boosted its stake in shares of Workday by 2.2% in the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after purchasing an additional 324,540 shares during the period. D1 Capital Partners L.P. boosted its stake in shares of Workday by 152.1% in the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock valued at $115,804,000 after purchasing an additional 312,500 shares during the period. Finally, Sustainable Growth Advisers LP boosted its stake in shares of Workday by 9.7% in the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after purchasing an additional 301,463 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WDAY shares. Needham & Company LLC decreased their target price on shares of Workday from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Evercore ISI reduced their price objective 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 note on Wednesday, September 18th. Citigroup reduced their price objective on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Workday from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and a consensus target price of $287.04.

Workday Stock Performance

NASDAQ:WDAY traded down $1.91 during mid-day trading on Thursday, hitting $236.37. The stock had a trading volume of 94,974 shares, compared to its average volume of 2,108,067. The stock has a market capitalization of $62.64 billion, a price-to-earnings ratio of 42.93, a P/E/G ratio of 4.72 and a beta of 1.35. The company has a 50 day simple moving average of $247.36 and a 200-day simple moving average of $236.42. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping 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 period in the previous year, the firm earned $0.40 EPS. Workday’s revenue was up 16.5% on a year-over-year basis. On average, research analysts expect that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Wayne A.I. Frederick sold 1,828 shares of the business’s 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 sale, the director now directly owns 8,674 shares in the company, valued at $2,097,806.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $242.01, for a total value of $13,552,560.00. Following the sale, the insider now directly owns 281,000 shares in the company, valued at $68,004,810. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Wayne A.I. Frederick sold 1,828 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the sale, the director now owns 8,674 shares in the company, valued at $2,097,806.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 370,575 shares of company stock worth $91,506,897. 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.