Workday, Inc. (NASDAQ:WDAY) Shares Bought by Smith Group Asset Management LLC

Smith Group Asset Management LLC lifted its holdings in Workday, Inc. (NASDAQ:WDAY) by 9.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,013 shares of the software maker’s stock after purchasing an additional 9,324 shares during the period. Workday comprises 2.1% of Smith Group Asset Management LLC’s holdings, making the stock its 18th biggest holding. Smith Group Asset Management LLC’s holdings in Workday were worth $28,129,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Planning increased its stake in Workday by 179.3% in the 2nd quarter. Creative Planning now owns 44,647 shares of the software maker’s stock worth $9,981,000 after purchasing an additional 28,663 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Workday by 23.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,063 shares of the software maker’s stock worth $1,132,000 after acquiring an additional 970 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in shares of Workday by 19.2% during the second quarter. Sunbelt Securities Inc. now owns 914 shares of the software maker’s stock valued at $204,000 after acquiring an additional 147 shares during the period. Quarry LP raised its holdings in shares of Workday by 63.5% during the second quarter. Quarry LP now owns 273 shares of the software maker’s stock valued at $61,000 after acquiring an additional 106 shares during the period. Finally, Truist Financial Corp lifted its position in shares of Workday by 1.5% in the 2nd quarter. Truist Financial Corp now owns 88,588 shares of the software maker’s stock valued at $19,805,000 after acquiring an additional 1,320 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insider Activity at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the transaction, the insider now owns 60,000 shares in the company, valued at approximately $14,785,200. This represents a 48.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 438,819 shares of company stock worth $113,142,592. Company insiders own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the topic of several research analyst reports. StockNews.com cut shares of Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and lifted their price target for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. Oppenheimer reissued an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research note on Tuesday, December 3rd. Loop Capital lowered their target price on Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Finally, Citigroup reduced their price target on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $292.25.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $270.43 on Wednesday. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a market cap of $71.93 billion, a P/E ratio of 44.85, a P/E/G ratio of 4.58 and a beta of 1.34. The business’s 50 day moving average is $261.22 and its two-hundred day moving average is $248.48. 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:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 EPS. On average, equities analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

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.