Brooklyn Investment Group Grows Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Brooklyn Investment Group increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 18.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,100 shares of the software maker’s stock after purchasing an additional 174 shares during the period. Brooklyn Investment Group’s holdings in Workday were worth $269,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new position in shares of Workday during the 3rd quarter worth about $26,000. SouthState Corp boosted its holdings in Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after purchasing an additional 129 shares in the last quarter. Crewe Advisors LLC increased its stake in Workday by 56.6% in the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock valued at $35,000 after purchasing an additional 56 shares during the last quarter. Goodman Advisory Group LLC acquired a new stake in Workday during the second quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. lifted its position in shares of Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Price Performance

WDAY stock opened at $270.19 on Wednesday. The stock’s 50 day moving average is $248.52 and its two-hundred day moving average is $237.21. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The company has a market capitalization of $71.60 billion, a PE ratio of 47.07, a P/E/G ratio of 5.31 and a beta of 1.35. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 earnings per share. Analysts predict that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 90,000 shares in the company, valued at $22,990,500. The trade was a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the completion of the transaction, the insider now owns 281,000 shares in the company, valued at approximately $68,004,810. The trade was a 16.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 359,954 shares of company stock worth $88,742,132. Corporate insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on WDAY shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 target price on shares of Workday in a research report on Monday. JMP Securities reiterated a “market outperform” rating and set a $315.00 target price on shares of Workday in a research report on Thursday, September 19th. 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. Morgan Stanley reduced their price objective on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Finally, KeyCorp raised their target price on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $289.46.

Workday Company 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.