Workday, Inc. (NASDAQ:WDAY) Shares Acquired by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 32.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,878 shares of the software maker’s stock after buying an additional 7,802 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Workday were worth $7,791,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in Workday in the third quarter valued at $26,000. Crewe Advisors LLC acquired a new stake in Workday in the 1st quarter valued at $27,000. SouthState Corp raised its holdings in shares of 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 buying an additional 129 shares during the period. Goodman Advisory Group LLC purchased a new position in Workday in the 2nd quarter valued at about $35,000. Finally, Asset Dedication LLC bought a new stake in shares of Workday in the second quarter worth $36,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Performance

Shares of WDAY traded up $5.95 during mid-day trading on Wednesday, hitting $276.27. The stock had a trading volume of 647,317 shares, compared to its average volume of 2,096,310. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a market cap of $73.21 billion, a P/E ratio of 48.13, a PEG ratio of 5.37 and a beta of 1.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The business has a fifty day moving average price of $245.97 and a 200-day moving average price of $235.99.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the previous year, the company posted $0.40 EPS. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, equities research analysts expect that Workday, Inc. will post 2.4 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on WDAY. Citigroup decreased their price target on shares of Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Wells Fargo & Company raised their target price on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $300.00 price target on shares of Workday in a research note on Friday, September 13th. Piper Sandler restated an “overweight” rating and issued a $285.00 target price on shares of Workday in a report on Wednesday, September 18th. Finally, The Goldman Sachs Group lifted their price target on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.04.

Insider Activity

In other Workday 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 completion of the transaction, the insider now owns 281,000 shares of the company’s stock, valued at $68,004,810. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Wayne A.I. Frederick sold 1,828 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the transaction, the director now directly owns 8,674 shares of the company’s stock, valued at approximately $2,097,806.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $242.01, for a total value of $13,552,560.00. Following the completion of the transaction, the insider now owns 281,000 shares in the company, valued at approximately $68,004,810. 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 in the last three months. Corporate 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.