Glenmede Trust Co. NA Increases Stock Position in Workday, Inc. (NASDAQ:WDAY)

Glenmede Trust Co. NA raised its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 4.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 155,344 shares of the software maker’s stock after purchasing an additional 6,368 shares during the period. Glenmede Trust Co. NA owned 0.06% of Workday worth $37,968,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Fernbridge Capital Management LP boosted its position in shares of Workday by 32.6% during the 3rd quarter. Fernbridge Capital Management LP now owns 419,378 shares of the software maker’s stock valued at $102,500,000 after acquiring an additional 103,129 shares during the last quarter. Cynosure Group LLC lifted its position in Workday by 6.0% during the third quarter. Cynosure Group LLC now owns 22,661 shares of the software maker’s stock valued at $5,539,000 after purchasing an additional 1,279 shares during the last quarter. Townsquare Capital LLC grew its stake in shares of Workday by 39.0% in the 3rd quarter. Townsquare Capital LLC now owns 110,489 shares of the software maker’s stock worth $27,005,000 after buying an additional 31,001 shares in the last quarter. Brooklyn Investment Group raised its position in shares of Workday by 18.8% during the 3rd quarter. Brooklyn Investment Group now owns 1,100 shares of the software maker’s stock valued at $269,000 after buying an additional 174 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of Workday by 26.2% in the 3rd quarter. Quantbot Technologies LP now owns 27,509 shares of the software maker’s stock valued at $6,723,000 after acquiring an additional 5,711 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WDAY. Piper Sandler restated a “neutral” rating and set a $270.00 price objective (down from $285.00) on shares of Workday in a research report on Wednesday. Canaccord Genuity Group restated a “buy” rating and issued a $300.00 target price on shares of Workday in a report on Friday, September 13th. The Goldman Sachs Group raised their price objective on shares of Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Scotiabank assumed coverage on Workday in a research note on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price on the stock. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $300.00 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, seven have issued a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $288.04.

Insider Transactions at Workday

In other news, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $255.45, for a total value of $1,915,875.00. Following the sale, the director now owns 90,000 shares in the company, valued at $22,990,500. This represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold 359,954 shares of company stock worth $88,742,132 over the last 90 days. 20.00% of the stock is currently owned by company insiders.

Workday Trading Up 0.9 %

NASDAQ:WDAY opened at $270.19 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $248.52 and a 200-day simple moving average of $237.21. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a market capitalization of $71.60 billion, a P/E ratio of 47.07, a PEG ratio of 5.31 and a beta of 1.35.

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

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.