Workday, Inc. (NASDAQ:WDAY) Shares Acquired by Plato Investment Management Ltd

Plato Investment Management Ltd grew its position in Workday, Inc. (NASDAQ:WDAY) by 91.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 6,144 shares of the software maker’s stock after acquiring an additional 2,932 shares during the period. Plato Investment Management Ltd’s holdings in Workday were worth $1,500,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Workday by 2.2% in the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after buying an additional 324,540 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Workday by 12.4% during the 1st quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock worth $693,382,000 after buying an additional 281,207 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Workday by 79.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after buying an additional 1,016,394 shares during the last quarter. Legal & General Group Plc lifted its holdings in Workday by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after buying an additional 118,180 shares during the last quarter. Finally, Meritage Group LP lifted its holdings in Workday by 27.5% during the 1st quarter. Meritage Group LP now owns 1,277,359 shares of the software maker’s stock worth $348,400,000 after buying an additional 275,883 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $260.32, for a total value of $1,952,400.00. Following the sale, the director now owns 97,500 shares of the company’s stock, valued at approximately $25,381,200. This represents a 7.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 66,492 shares of the company’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 value of $17,367,710.40. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $26,902,816.40. The trade was a 39.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 370,575 shares of company stock valued at $91,506,897 in the last quarter. 20.00% of the stock is currently owned by corporate insiders.

Workday Stock Performance

NASDAQ WDAY opened at $271.49 on Friday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $246.33 and its two-hundred day moving average is $236.28. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The stock has a market capitalization of $71.94 billion, a price-to-earnings ratio of 47.30, a PEG ratio of 5.49 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its quarterly 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. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 EPS. Research analysts expect that Workday, Inc. will post 2.4 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on WDAY. BMO Capital Markets reaffirmed an “outperform” rating and set a $300.00 price target on shares of Workday in a report on Wednesday, September 18th. Loop Capital lifted their target price on Workday from $255.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday. KeyCorp lifted their target price on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Wells Fargo & Company lifted their target price on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Needham & Company LLC cut their target price on Workday from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $287.59.

Workday Company 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.