Workday, Inc. $WDAY Stock: Russell Investments Group Ltd. Raises Position

Russell Investments Group Ltd. increased its position in Workday, Inc. (NASDAQ:WDAY) by 1.6% in the third quarter, HoldingsChannel reports. The firm owned 398,066 shares of the software maker’s stock after acquiring an additional 6,123 shares during the period. Russell Investments Group Ltd.’s holdings in Workday were worth $75,774,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC raised its stake in Workday by 55.9% during the 3rd quarter. CoreCap Advisors LLC now owns 173 shares of the software maker’s stock valued at $33,000 after purchasing an additional 62 shares during the period. First Command Advisory Services Inc. lifted its holdings in shares of Workday by 1,035.3% in the third quarter. First Command Advisory Services Inc. now owns 193 shares of the software maker’s stock valued at $37,000 after purchasing an additional 176 shares in the last quarter. Signature Equity Partners LLC lifted its holdings in shares of Workday by 350.0% in the third quarter. Signature Equity Partners LLC now owns 198 shares of the software maker’s stock valued at $38,000 after purchasing an additional 154 shares in the last quarter. Western Wealth Management LLC acquired a new stake in shares of Workday in the first quarter worth $39,000. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of Workday in the second quarter worth $42,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WDAY. CLSA assumed coverage on Workday in a report on Monday, July 20th. They set an “underperform” rating and a $92.00 price target on the stock. Sanford C. Bernstein increased their price objective on Workday from $216.00 to $238.00 and gave the stock an “outperform” rating in a research note on Friday, August 28th. Morgan Stanley increased their price objective on Workday from $145.00 to $180.00 and gave the stock an “underweight” rating in a research note on Friday, August 28th. Mizuho set a $210.00 price objective on Workday in a research report on Wednesday, October 14th. Finally, The Goldman Sachs Group raised their price objective on Workday from $151.00 to $164.00 and gave the stock a “neutral” rating in a research report on Monday, August 31st. Twenty-two equities research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Workday has a consensus rating of “Hold” and a consensus target price of $202.10.

Workday Stock Up 3.0%

WDAY stock traded up $5.81 during midday trading on Friday, reaching $196.45. The company had a trading volume of 1,730,934 shares, compared to its average volume of 2,147,996. The company has a 50 day moving average of $193.31 and a two-hundred day moving average of $156.57. The company has a market capitalization of $47.34 billion, a P/E ratio of 39.85, a PEG ratio of 1.92 and a beta of 1.02. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $236.80. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.14. Workday had a net margin of 12.32% and a return on equity of 20.95%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the prior year, the business posted $2.21 earnings per share. Workday’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities research analysts expect that Workday, Inc. will post 5.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Workday news, major shareholder David Duffield sold 100,780 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $185.64, for a total value of $18,708,799.20. Following the transaction, the insider owned 105,049 shares in the company, valued at $19,501,296.36. The trade was a 48.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 988,104 shares of company stock valued at $188,811,574 in the last quarter. Insiders own 18.64% of the company’s stock.

Workday Company Profile

Workday, Inc. develops cloud-based software for managing human resources, finance and business operations. Its products include Workday Human Capital Management, Workday Financial Management and Workday Adaptive Planning, which help organizations manage areas such as workforce administration, accounting, budgeting and forecasting. Founded in 2005 by Dave Duffield and Aneel Bhusri, Workday serves businesses, governments and educational institutions across a range of industries. Its operations and customer base extend across North America and international markets.