Quotient Wealth Partners LLC Acquires New Stake in Workday, Inc. (NASDAQ:WDAY)

Quotient Wealth Partners LLC bought a new position in Workday, Inc. (NASDAQ:WDAY) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 866 shares of the software maker’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Workday by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after purchasing an additional 324,540 shares in the last quarter. Sustainable Growth Advisers LP grew its position in Workday by 9.7% in the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock worth $927,998,000 after buying an additional 301,463 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Workday by 12.4% in the first quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock valued at $693,382,000 after buying an additional 281,207 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Workday by 79.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after acquiring an additional 1,016,394 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Workday by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after acquiring an additional 118,180 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Friday, September 13th. Bank of America boosted their price objective on Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Citigroup dropped their target price on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. KeyCorp upped their price target on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $300.00 target price on shares of Workday in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.04.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $240.90 on Friday. The business’s 50-day simple moving average is $241.97 and its 200-day simple moving average is $239.30. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The firm has a market cap of $63.84 billion, a price-to-earnings ratio of 41.97, a P/E/G ratio of 4.78 and a beta of 1.35.

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

Insider Activity

In related news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,902,816.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $260.29, for a total value of $812,365.09. Following the completion of the transaction, the insider now directly owns 196,344 shares of the company’s stock, valued at approximately $51,106,379.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 312,747 shares of company stock valued at $77,512,235. 20.00% of the stock is owned by company insiders.

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.