Cable Hill Partners LLC Invests $211,000 in Workday, Inc. (NASDAQ:WDAY)

Cable Hill Partners LLC purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY) during the 3rd quarter, HoldingsChannel reports. The firm purchased 865 shares of the software maker’s stock, valued at approximately $211,000.

Several other hedge funds also recently modified their holdings of WDAY. Capital Performance Advisors LLP bought a new stake in shares of Workday during the 3rd quarter worth $26,000. Crewe Advisors LLC bought a new stake in shares of Workday during the 1st quarter worth $27,000. SouthState Corp boosted its holdings in shares of Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after buying an additional 129 shares during the period. Goodman Advisory Group LLC bought a new stake in shares of Workday during the 2nd quarter worth $35,000. Finally, Asset Dedication LLC bought a new stake in shares of Workday during the 2nd quarter worth $36,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WDAY. DA Davidson upped their price objective on shares of Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. KeyCorp increased their price target on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Evercore ISI reduced their price target on shares of Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Workday from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Bank of America increased their price target on shares of Workday from $265.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.59.

Workday Trading Down 1.8 %

Shares of Workday stock opened at $271.49 on Friday. The stock has a market capitalization of $71.94 billion, a P/E ratio of 47.30, a price-to-earnings-growth ratio of 5.49 and a beta of 1.35. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The company has a 50-day simple moving average of $246.33 and a 200 day simple moving average of $236.28. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28.

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

Insider Buying and Selling at Workday

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $260.32, for a total value of $1,952,400.00. Following the completion of the sale, the director now owns 97,500 shares in the company, valued at approximately $25,381,200. This trade represents a 7.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 66,492 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at $26,902,816.40. This trade represents a 39.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 370,575 shares of company stock worth $91,506,897. 20.00% of the stock is currently owned by corporate 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.