Van ECK Associates Corp Grows Stock Holdings in Workday, Inc. $WDAY

Van ECK Associates Corp grew its position in shares of Workday, Inc. (NASDAQ:WDAY) by 100.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,415,002 shares of the software maker’s stock after acquiring an additional 707,423 shares during the period. Van ECK Associates Corp owned about 0.53% of Workday worth $340,634,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WDAY. Brighton Jones LLC raised its position in Workday by 230.2% during the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after purchasing an additional 2,792 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Workday by 12.1% during the first quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock valued at $2,602,000 after buying an additional 1,206 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Workday by 211.7% during the first quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock valued at $44,000 after acquiring an additional 127 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Workday in the second quarter worth $281,000. Finally, Golden State Wealth Management LLC boosted its holdings in Workday by 2,216.7% in the second quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock valued at $33,000 after acquiring an additional 133 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on WDAY. Wall Street Zen lowered shares of Workday from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Stifel Nicolaus set a $175.00 price target on shares of Workday in a research report on Monday, February 9th. JPMorgan Chase & Co. decreased their price target on shares of Workday from $270.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, February 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of Workday in a report on Monday, February 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price objective on shares of Workday in a research report on Wednesday, February 25th. Twenty equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.19.

Insider Buying and Selling

In other Workday news, insider Richard Harry Sauer sold 1,130 shares of the business’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $210.00, for a total value of $237,300.00. Following the sale, the insider directly owned 85,398 shares of the company’s stock, valued at approximately $17,933,580. The trade was a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Mark S. Garfield sold 953 shares of the business’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $209.56, for a total value of $199,710.68. Following the completion of the sale, the chief accounting officer directly owned 35,336 shares in the company, valued at $7,405,012.16. This trade represents a 2.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 503,296 shares of company stock worth $91,729,216 over the last three months. Corporate insiders own 20.00% of the company’s stock.

Workday Trading Down 1.9%

Shares of NASDAQ WDAY opened at $148.14 on Tuesday. Workday, Inc. has a 1 year low of $117.76 and a 1 year high of $276.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.83. The firm has a 50-day moving average of $170.76 and a 200 day moving average of $208.28. The stock has a market cap of $38.96 billion, a P/E ratio of 57.42, a price-to-earnings-growth ratio of 1.47 and a beta of 1.17.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.15. Workday had a net margin of 7.26% and a return on equity of 13.37%. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the prior year, the company earned $1.92 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.