Worldquant Millennium Advisors LLC Raises Stock Position in Workday, Inc. (NASDAQ:WDAY)

Worldquant Millennium Advisors LLC raised its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 387.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 355,655 shares of the software maker’s stock after buying an additional 282,632 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in Workday were worth $86,926,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in Workday during the third quarter valued at approximately $26,000. SouthState Corp increased its stake in shares of Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after purchasing an additional 129 shares in the last quarter. Crewe Advisors LLC raised its holdings in Workday by 56.6% in the 2nd quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock worth $35,000 after purchasing an additional 56 shares during the period. Goodman Advisory Group LLC purchased a new position in Workday during the second quarter valued at $35,000. Finally, Meeder Asset Management Inc. grew its holdings in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 70,003 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total value of $17,584,753.60. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $25,872,846.40. This represents a 40.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Sayan Chakraborty sold 5,498 shares of Workday stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the sale, the insider now owns 121,100 shares of the company’s stock, valued at $30,369,458. The trade was a 4.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 361,463 shares of company stock valued at $88,422,088. Company insiders own 20.00% of the company’s stock.

Workday Price Performance

Shares of Workday stock opened at $262.70 on Friday. The stock has a market cap of $69.62 billion, a price-to-earnings ratio of 43.57, a price-to-earnings-growth ratio of 4.98 and a beta of 1.34. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a 50 day moving average price of $249.96 and a 200-day moving average price of $237.65. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.21%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the firm earned $0.47 earnings per share. Workday’s quarterly revenue was up 15.8% compared to the same quarter last year. Equities analysts expect that Workday, Inc. will post 2.57 EPS for the current year.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Barclays lowered their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Piper Sandler reissued a “neutral” rating and issued a $270.00 price objective (down from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Needham & Company LLC restated a “buy” rating and set a $300.00 target price on shares of Workday in a research note on Monday, November 25th. Finally, Scotiabank started coverage on shares of Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus price target of $288.14.

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.