Edgestream Partners L.P. Acquires 4,639 Shares of Workday, Inc. (NASDAQ:WDAY)

Edgestream Partners L.P. boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 31.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,363 shares of the software maker’s stock after buying an additional 4,639 shares during the period. Edgestream Partners L.P.’s holdings in Workday were worth $4,329,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Carolinas Wealth Consulting LLC raised its holdings in shares of Workday by 9.7% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock worth $106,000 after acquiring an additional 34 shares during the last quarter. Congress Wealth Management LLC DE lifted its holdings in shares of Workday by 2.4% in the fourth quarter. Congress Wealth Management LLC DE now owns 1,658 shares of the software maker’s stock valued at $458,000 after purchasing an additional 39 shares in the last quarter. Raleigh Capital Management Inc. boosted its position in shares of Workday by 4.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 869 shares of the software maker’s stock valued at $240,000 after buying an additional 39 shares during the last quarter. Hudson Value Partners LLC grew its holdings in Workday by 0.8% during the fourth quarter. Hudson Value Partners LLC now owns 5,135 shares of the software maker’s stock worth $1,418,000 after buying an additional 40 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in Workday by 3.5% in the 4th quarter. D.A. Davidson & CO. now owns 1,241 shares of the software maker’s stock valued at $343,000 after buying an additional 42 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Workday Stock Down 0.4 %

Shares of NASDAQ:WDAY opened at $248.12 on Wednesday. The firm has a fifty day moving average price of $236.20 and a two-hundred day moving average price of $242.39. The company has a market cap of $65.75 billion, a price-to-earnings ratio of 44.71, a PEG ratio of 5.40 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping the consensus estimate of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the previous year, the business earned $0.40 earnings per share. The firm’s revenue was up 16.5% on a year-over-year basis. Analysts anticipate that Workday, Inc. will post 2.27 EPS for the current fiscal year.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $218.58, for a total value of $12,240,480.00. Following the completion of the transaction, the insider now owns 730,000 shares of the company’s stock, valued at approximately $159,563,400. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $218.58, for a total value of $12,240,480.00. Following the completion of the transaction, the insider now directly owns 730,000 shares in the company, valued at approximately $159,563,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 78,279 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $223.89, for a total value of $17,525,885.31. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $23,059,998.33. The disclosure for this sale can be found here. Insiders have sold 466,402 shares of company stock valued at $107,992,034 over the last three months. 20.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price objective on shares of Workday in a report on Friday, May 24th. Robert W. Baird cut their price target on shares of Workday from $316.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. Piper Sandler increased their price objective on shares of Workday from $262.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Morgan Stanley cut their target price on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Finally, Sanford C. Bernstein decreased their price target on Workday from $321.00 to $301.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. One research 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $288.15.

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.