Harvest Fund Management Co. Ltd Has $2.40 Million Position in Workday, Inc. (NASDAQ:WDAY)

Harvest Fund Management Co. Ltd grew its position in shares of Workday, Inc. (NASDAQ:WDAY) by 52.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,811 shares of the software maker’s stock after buying an additional 3,396 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Workday were worth $2,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the business. The Manufacturers Life Insurance Company raised its position in Workday by 79.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after purchasing an additional 1,016,394 shares in the last quarter. Legal & General Group Plc raised its position 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 purchasing an additional 118,180 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Workday by 15.2% in the second quarter. Bank of New York Mellon Corp now owns 1,167,131 shares of the software maker’s stock worth $260,924,000 after acquiring an additional 153,577 shares during the period. Van ECK Associates Corp increased its position in shares of Workday by 0.4% during the third quarter. Van ECK Associates Corp now owns 934,828 shares of the software maker’s stock worth $226,266,000 after buying an additional 4,127 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Workday by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 835,203 shares of the software maker’s stock worth $204,132,000 after acquiring an additional 24,195 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on WDAY shares. Loop Capital boosted their price objective on Workday from $255.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Scotiabank assumed coverage on Workday in a research note on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price target on the stock. Barclays boosted their price objective on Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. DA Davidson increased their target price on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Finally, Piper Sandler restated an “overweight” rating and set a $285.00 price target on shares of Workday in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and a consensus target price of $289.46.

Workday Stock Performance

NASDAQ:WDAY opened at $267.75 on Monday. The company has a market capitalization of $70.95 billion, a P/E ratio of 46.65, a P/E/G ratio of 5.31 and a beta of 1.35. The business has a fifty day simple moving average of $247.71 and a two-hundred day simple moving average of $236.89. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.10. The company had revenue of $2.09 billion during 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 firm’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 EPS. On average, analysts expect that Workday, Inc. will post 2.4 earnings per share for the current year.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction 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 transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. This represents a 39.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Wayne A.I. Frederick sold 1,828 shares of Workday stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the sale, the director now owns 8,674 shares of the company’s stock, valued at approximately $2,097,806.90. This trade represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 359,954 shares of company stock worth $88,742,132 over the last quarter. Corporate insiders own 20.00% of the company’s stock.

About Workday

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.