Ballentine Partners LLC Grows Stake in Workday, Inc. (NASDAQ:WDAY)

Ballentine Partners LLC lifted its stake in Workday, Inc. (NASDAQ:WDAYFree Report) by 8.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,046 shares of the software maker’s stock after buying an additional 154 shares during the period. Ballentine Partners LLC’s holdings in Workday were worth $528,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of WDAY. Sanctuary Advisors LLC boosted its holdings in Workday by 7.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after acquiring an additional 1,978 shares during the period. Grafton Street Partners Fund LP acquired a new position in shares of Workday during the third quarter worth $4,424,000. ICICI Prudential Asset Management Co Ltd boosted its stake in shares of Workday by 32.4% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after purchasing an additional 7,802 shares during the period. Nordea Investment Management AB grew its holdings in Workday by 20.5% during the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after purchasing an additional 119,769 shares in the last quarter. Finally, Legal & General Group Plc increased its stake 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 period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Performance

Shares of WDAY stock opened at $255.30 on Friday. The firm has a market cap of $67.91 billion, a PE ratio of 42.34, a P/E/G ratio of 4.53 and a beta of 1.34. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company’s fifty day simple moving average is $261.26 and its 200-day simple moving average is $247.31. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAYGet Free Report) last posted its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm earned $0.47 EPS. The business’s quarterly revenue was up 15.8% on a year-over-year basis. Equities research analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Transactions at Workday

In other Workday news, insider Sayan Chakraborty sold 5,498 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the transaction, the insider now directly owns 121,100 shares of the company’s stock, valued at $30,369,458. This represents a 4.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the transaction, the insider now directly owns 60,000 shares in the company, valued at approximately $14,785,200. This represents a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Oppenheimer restated an “outperform” rating and set a $300.00 target price on shares of Workday in a research note on Tuesday, December 3rd. Loop Capital dropped their price objective on Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Wells Fargo & Company upped their target price on Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Barclays decreased their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Finally, Morgan Stanley upped their price target on shares of Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and an average price target of $292.25.

Read Our Latest Stock Report on WDAY

About Workday

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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