Quantbot Technologies LP Increases Stake in Workday, Inc. (NASDAQ:WDAY)

Quantbot Technologies LP raised its stake in Workday, Inc. (NASDAQ:WDAY) by 26.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 27,509 shares of the software maker’s stock after purchasing an additional 5,711 shares during the quarter. Quantbot Technologies LP’s holdings in Workday were worth $6,723,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. BOKF NA increased its holdings in Workday by 946.2% during the 1st quarter. BOKF NA now owns 2,448 shares of the software maker’s stock valued at $667,000 after purchasing an additional 2,214 shares during the period. Silvercrest Asset Management Group LLC raised its holdings in shares of Workday by 75.2% during the first quarter. Silvercrest Asset Management Group LLC now owns 19,947 shares of the software maker’s stock valued at $5,441,000 after acquiring an additional 8,559 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in Workday by 27.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,417 shares of the software maker’s stock valued at $659,000 after acquiring an additional 525 shares in the last quarter. California State Teachers Retirement System increased its position in Workday by 0.8% during the 1st quarter. California State Teachers Retirement System now owns 325,646 shares of the software maker’s stock valued at $88,820,000 after purchasing an additional 2,482 shares during the period. Finally, Comerica Bank raised its holdings in Workday by 13.2% in the 1st quarter. Comerica Bank now owns 42,664 shares of the software maker’s stock worth $11,637,000 after purchasing an additional 4,977 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $242.01, for a total value of $13,552,560.00. Following the transaction, the insider now owns 281,000 shares of the company’s stock, valued at approximately $68,004,810. This trade represents a 16.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the sale, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $22,990,500. This represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 359,954 shares of company stock valued at $88,742,132. Company insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WDAY. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 target price on shares of Workday in a research note on Thursday, September 19th. BMO Capital Markets reiterated an “outperform” rating and set a $300.00 target price on shares of Workday in a report on Wednesday, September 18th. Canaccord Genuity Group reissued a “buy” rating and issued a $300.00 target price on shares of Workday in a research report on Friday, September 13th. Deutsche Bank Aktiengesellschaft lifted their price target on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $285.00 price objective on shares of Workday in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $289.46.

Workday Stock Performance

Shares of WDAY stock opened at $267.69 on Tuesday. 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 moving average price of $248.08 and a 200-day moving average price of $237.05. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The firm has a market capitalization of $70.94 billion, a PE ratio of 46.64, a P/E/G ratio of 5.31 and a beta of 1.35.

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.