Legato Capital Management LLC Grows Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Legato Capital Management LLC grew its holdings in Workday, Inc. (NASDAQ:WDAY) by 17.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,615 shares of the software maker’s stock after purchasing an additional 823 shares during the quarter. Legato Capital Management LLC’s holdings in Workday were worth $1,255,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Aspen Investment Management Inc boosted its stake in shares of Workday by 3.1% during the second quarter. Aspen Investment Management Inc now owns 1,650 shares of the software maker’s stock worth $369,000 after buying an additional 50 shares during the period. RiverPark Advisors LLC boosted its holdings in shares of Workday by 9.5% in the 2nd quarter. RiverPark Advisors LLC now owns 4,582 shares of the software maker’s stock valued at $1,024,000 after purchasing an additional 399 shares during the last quarter. Riverpark Capital Management LLC boosted its holdings in shares of Workday by 13.6% in the 2nd quarter. Riverpark Capital Management LLC now owns 5,960 shares of the software maker’s stock valued at $1,332,000 after purchasing an additional 712 shares during the last quarter. Liontrust Investment Partners LLP acquired a new position in shares of Workday in the 2nd quarter valued at $5,015,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Workday by 15.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,167,131 shares of the software maker’s stock valued at $260,924,000 after acquiring an additional 153,577 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on WDAY shares. The Goldman Sachs Group reduced their target price on shares of Workday from $310.00 to $300.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Canaccord Genuity Group boosted their price objective on shares of Workday from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Friday. Piper Sandler increased their target price on shares of Workday from $262.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday. BMO Capital Markets dropped their price target on shares of Workday from $338.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. Finally, Mizuho reduced their price target on shares of Workday from $325.00 to $280.00 and set a “buy” rating for the company in a report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given 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 $288.15.

Workday Stock Performance

Shares of Workday stock traded up $6.32 during trading on Tuesday, reaching $266.69. The company’s stock had a trading volume of 1,386,971 shares, compared to its average volume of 2,225,099. The business’s 50-day moving average price is $224.68 and its 200-day moving average price is $247.35. The firm has a market cap of $70.67 billion, a PE ratio of 46.91, a P/E/G ratio of 5.82 and a beta of 1.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.46%. Workday’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 earnings per share. Equities analysts forecast that Workday, Inc. will post 2.12 earnings per share for the current year.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 82,762 shares of Workday stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $210.28, for a total value of $17,403,193.36. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $21,658,209.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Richard Harry Sauer sold 3,134 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $226.67, for a total transaction of $710,383.78. Following the sale, the insider now owns 92,014 shares of the company’s stock, valued at approximately $20,856,813.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 82,762 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $210.28, for a total transaction of $17,403,193.36. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $21,658,209.16. The disclosure for this sale can be found here. Insiders sold 521,551 shares of company stock valued at $115,269,567 over the last quarter. 20.00% of the stock is owned by company insiders.

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.