Meitav Investment House Ltd. purchased a new stake in Workday, Inc. (NASDAQ:WDAY – Free Report) during the second quarter, according to its most recent filing with the SEC. The firm purchased 1,365 shares of the software maker’s stock, valued at approximately $310,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Workday in the 1st quarter valued at $25,000. Nemes Rush Group LLC acquired a new position in Workday in the second quarter valued at about $34,000. Manchester Capital Management LLC bought a new stake in shares of Workday in the first quarter worth about $34,000. First Manhattan CO. LLC. acquired a new stake in shares of Workday during the first quarter worth about $37,000. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Workday during the 2nd quarter valued at about $508,000. Institutional investors own 68.46% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on WDAY shares. Sanford C. Bernstein increased their target price on Workday from $275.00 to $284.00 and gave the stock an “outperform” rating in a research note on Sunday, August 27th. Bank of America dropped their price objective on shares of Workday from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, September 28th. DA Davidson upped their target price on shares of Workday from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, August 25th. StockNews.com began coverage on Workday in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Workday from $215.00 to $235.00 and gave the stock a “hold” rating in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $248.58.
Insiders Place Their Bets
In other Workday news, insider Douglas A. Robinson sold 407 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $246.26, for a total transaction of $100,227.82. Following the sale, the insider now directly owns 178,323 shares in the company, valued at $43,913,821.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Workday news, insider Sayan Chakraborty sold 3,944 shares of the business’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $205.41, for a total transaction of $810,137.04. Following the completion of the transaction, the insider now owns 129,473 shares of the company’s stock, valued at $26,595,048.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Douglas A. Robinson sold 407 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $246.26, for a total transaction of $100,227.82. Following the sale, the insider now directly owns 178,323 shares in the company, valued at approximately $43,913,821.98. The disclosure for this sale can be found here. Insiders have sold 131,714 shares of company stock worth $32,193,350 over the last ninety days. Corporate insiders own 21.09% of the company’s stock.
Workday Price Performance
Shares of Workday stock opened at $231.66 on Friday. Workday, Inc. has a twelve month low of $141.22 and a twelve month high of $252.72. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.47. The company has a 50-day simple moving average of $222.45 and a two-hundred day simple moving average of $221.62. The stock has a market capitalization of $60.69 billion, a price-to-earnings ratio of -482.63, a price-to-earnings-growth ratio of 7.67 and a beta of 1.25.
Workday (NASDAQ:WDAY – Get Free Report) last posted its quarterly earnings data on Thursday, August 24th. The software maker reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.17. Workday had a positive return on equity of 2.09% and a negative net margin of 1.81%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the company earned ($0.16) EPS. The company’s revenue was up 16.6% on a year-over-year basis. Analysts forecast that Workday, Inc. will post 1.13 EPS for the current year.
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, and to manage their business and operations. The company offers a suite of financial management applications, which enable chief financial officers 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.
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