Legal & General Group Plc Buys 47,533 Shares of Workday, Inc. $WDAY

Legal & General Group Plc boosted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 3.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,504,239 shares of the software maker’s stock after acquiring an additional 47,533 shares during the quarter. Legal & General Group Plc owned 0.56% of Workday worth $361,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Verdence Capital Advisors LLC lifted its position in Workday by 1.0% in the second quarter. Verdence Capital Advisors LLC now owns 4,381 shares of the software maker’s stock valued at $1,051,000 after purchasing an additional 45 shares during the last quarter. AE Wealth Management LLC grew its holdings in shares of Workday by 0.4% in the first quarter. AE Wealth Management LLC now owns 11,896 shares of the software maker’s stock worth $2,778,000 after purchasing an additional 46 shares during the last quarter. Bristlecone Advisors LLC increased its stake in shares of Workday by 1.6% in the first quarter. Bristlecone Advisors LLC now owns 2,968 shares of the software maker’s stock worth $693,000 after buying an additional 47 shares during the period. Equitable Trust Co. raised its holdings in Workday by 4.0% during the 1st quarter. Equitable Trust Co. now owns 1,257 shares of the software maker’s stock valued at $294,000 after buying an additional 48 shares during the last quarter. Finally, Perennial Investment Advisors LLC raised its holdings in Workday by 2.8% during the 2nd quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker’s stock valued at $418,000 after buying an additional 48 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 78,564 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $220.12, for a total value of $17,293,507.68. Following the transaction, the insider directly owned 102,997 shares of the company’s stock, valued at approximately $22,671,699.64. This represents a 43.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Richard Harry Sauer sold 2,320 shares of Workday stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $235.87, for a total value of $547,218.40. Following the completion of the sale, the insider directly owned 90,077 shares of the company’s stock, valued at approximately $21,246,461.99. The trade was a 2.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 264,933 shares of company stock worth $61,475,760 over the last 90 days. 19.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

WDAY has been the topic of a number of recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $315.00 price target on shares of Workday in a report on Wednesday, September 17th. Wells Fargo & Company dropped their target price on shares of Workday from $325.00 to $300.00 and set an “overweight” rating for the company in a report on Monday, August 18th. UBS Group set a $304.00 price target on Workday in a research report on Friday, August 22nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $340.00 price objective on shares of Workday in a research report on Wednesday, September 17th. Finally, BMO Capital Markets decreased their target price on Workday from $314.00 to $285.00 and set an “outperform” rating for the company in a report on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $287.86.

Workday Price Performance

WDAY opened at $225.14 on Friday. The firm has a market cap of $60.11 billion, a PE ratio of 104.23, a P/E/G ratio of 2.81 and a beta of 1.11. The stock has a 50-day moving average price of $233.97 and a 200-day moving average price of $237.11. Workday, Inc. has a 1 year low of $205.33 and a 1 year high of $294.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.10 and a quick ratio of 2.10.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.12. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Workday had a net margin of 6.51% and a return on equity of 9.74%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.75 earnings per share. Sell-side analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Workday 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.