Los Angeles Capital Management LLC Buys 14,374 Shares of Workday, Inc. (NASDAQ:WDAY)

Los Angeles Capital Management LLC raised its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 47.2% during the fourth quarter, Holdings Channel reports. The firm owned 44,857 shares of the software maker’s stock after buying an additional 14,374 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Workday were worth $11,574,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank increased its position in shares of Workday by 214.0% during the fourth quarter. Amalgamated Bank now owns 44,049 shares of the software maker’s stock valued at $11,366,000 after buying an additional 30,022 shares during the period. Exchange Capital Management Inc. boosted its position in Workday by 1.9% during the 4th quarter. Exchange Capital Management Inc. now owns 3,902 shares of the software maker’s stock valued at $1,007,000 after acquiring an additional 74 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Workday by 28.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,465,917 shares of the software maker’s stock worth $378,250,000 after acquiring an additional 326,251 shares during the period. Sentry Investment Management LLC raised its position in shares of Workday by 70.2% in the 4th quarter. Sentry Investment Management LLC now owns 2,663 shares of the software maker’s stock worth $687,000 after acquiring an additional 1,098 shares in the last quarter. Finally, Crestwood Advisors Group LLC raised its position in shares of Workday by 19.6% in the 4th quarter. Crestwood Advisors Group LLC now owns 4,170 shares of the software maker’s stock worth $1,076,000 after acquiring an additional 684 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Workday Price Performance

NASDAQ WDAY opened at $271.09 on Thursday. The stock has a market capitalization of $72.11 billion, a price-to-earnings ratio of 44.96, a PEG ratio of 3.55 and a beta of 1.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $298.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The business’s fifty day moving average price is $260.01 and its 200-day moving average price is $254.24.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, equities analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In other Workday news, CAO Mark S. Garfield sold 472 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the sale, the director now directly owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. The trade was a 21.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock worth $113,142,592 in the last quarter. Company insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on WDAY shares. Wells Fargo & Company upped their price target on Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday. Piper Sandler boosted their target price on shares of Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday. Guggenheim reiterated a “neutral” rating on shares of Workday in a research note on Wednesday. UBS Group boosted their price objective on shares of Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Loop Capital upped their price objective on shares of Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, February 19th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $301.11.

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.