Los Angeles Capital Management LLC Buys 3,470 Shares of Workday, Inc. (NASDAQ:WDAY)

Los Angeles Capital Management LLC lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 12.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,483 shares of the software maker’s stock after buying an additional 3,470 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Workday were worth $7,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Legacy Capital Wealth Partners LLC purchased a new position in shares of Workday during the 3rd quarter worth approximately $369,000. Sigma Planning Corp bought a new position in Workday in the third quarter worth $233,000. 17 Capital Partners LLC lifted its position in Workday by 27.5% during the third quarter. 17 Capital Partners LLC now owns 2,474 shares of the software maker’s stock valued at $605,000 after buying an additional 534 shares during the period. Mesirow Financial Investment Management Inc. boosted its holdings in shares of Workday by 100.7% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 2,912 shares of the software maker’s stock valued at $712,000 after buying an additional 1,461 shares in the last quarter. Finally, Atria Investments Inc grew its position in shares of Workday by 19.3% in the 3rd quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock worth $10,833,000 after buying an additional 7,175 shares during the period. 89.81% of the stock is owned by institutional investors.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total transaction of $14,112,630.00. Following the completion of the sale, the insider now owns 505,000 shares in the company, valued at approximately $125,032,950. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $26,902,816.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 370,575 shares of company stock valued at $91,506,897 in the last ninety days. Corporate insiders own 20.00% of the company’s stock.

Workday Trading Up 3.0 %

Shares of Workday stock opened at $264.15 on Tuesday. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The company’s fifty day simple moving average is $245.75 and its 200-day simple moving average is $235.79. 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 stock has a market capitalization of $70.00 billion, a PE ratio of 46.02, a P/E/G ratio of 5.09 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share 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%. Workday’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share. As a group, equities analysts anticipate that Workday, Inc. will post 2.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Evercore ISI lowered their price objective on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. BMO Capital Markets reissued an “outperform” rating and issued a $300.00 target price on shares of Workday in a research note on Wednesday, September 18th. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research report on Thursday, September 19th. Finally, Morgan Stanley cut their price objective on shares of Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $287.04.

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.