Townsquare Capital LLC Increases Position in Workday, Inc. (NASDAQ:WDAY)

Townsquare Capital LLC grew its holdings in Workday, Inc. (NASDAQ:WDAY) by 39.0% during the third quarter, HoldingsChannel reports. The firm owned 110,489 shares of the software maker’s stock after acquiring an additional 31,001 shares during the period. Townsquare Capital LLC’s holdings in Workday were worth $27,005,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in WDAY. ORG Partners LLC lifted its position in Workday by 3,717.9% during the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock worth $721,000 after buying an additional 3,123 shares in the last quarter. Grafton Street Partners Fund LP acquired a new stake in shares of Workday in the 3rd quarter worth $4,424,000. ICICI Prudential Asset Management Co Ltd raised its holdings in shares of Workday by 32.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after acquiring an additional 7,802 shares during the period. Legal & General Group Plc boosted its position in shares of Workday by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after acquiring an additional 118,180 shares during the last quarter. Finally, Atria Investments Inc boosted its position in shares of Workday by 19.3% during the 3rd quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock valued at $10,833,000 after acquiring an additional 7,175 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on WDAY shares. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 target price on shares of Workday in a research note on Thursday, September 19th. Evercore ISI reduced their price target on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Bank of America raised their target price on Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Loop Capital upped their price target on Workday from $255.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Finally, Stifel Nicolaus raised their price objective on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and a consensus target price of $289.46.

Insider Buying and Selling

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

Workday Price Performance

Shares of WDAY opened at $270.19 on Wednesday. The firm has a market capitalization of $71.60 billion, a price-to-earnings ratio of 47.07, a PEG ratio of 5.31 and a beta of 1.35. The firm’s fifty day simple moving average is $248.52 and its 200-day simple moving average is $237.21. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The company has a current ratio of 2.04, a quick 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 for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the firm earned $0.47 earnings per share. Workday’s quarterly revenue was up 15.8% on a year-over-year basis. Equities analysts forecast that Workday, Inc. will post 2.4 EPS for the current fiscal 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.