Generate Investment Management Ltd Purchases Shares of 67,666 Workday, Inc. (NASDAQ:WDAY)

Generate Investment Management Ltd acquired a new position in Workday, Inc. (NASDAQ:WDAY) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 67,666 shares of the software maker’s stock, valued at approximately $16,538,000.

Several other hedge funds have also modified their holdings of WDAY. Aaron Wealth Advisors LLC increased its position in Workday by 55.1% in the third quarter. Aaron Wealth Advisors LLC now owns 1,864 shares of the software maker’s stock worth $456,000 after purchasing an additional 662 shares during the last quarter. Stonegate Investment Group LLC grew its stake in shares of Workday by 22.2% in the 3rd quarter. Stonegate Investment Group LLC now owns 20,898 shares of the software maker’s stock worth $5,108,000 after buying an additional 3,790 shares in the last quarter. Claro Advisors LLC bought a new stake in shares of Workday in the 3rd quarter worth about $255,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Workday by 5.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,493 shares of the software maker’s stock valued at $11,852,000 after buying an additional 2,453 shares in the last quarter. Finally, Beech Hill Advisors Inc. bought a new position in shares of Workday in the 3rd quarter valued at about $1,419,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WDAY. Deutsche Bank Aktiengesellschaft upped 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. Morgan Stanley lowered their price target on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Evercore ISI cut their price objective 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 shares of Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, DA Davidson upped their price target on shares of Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $287.04.

Workday Trading Up 0.5 %

Shares of NASDAQ:WDAY opened at $244.48 on Friday. The company has a market capitalization of $64.79 billion, a PE ratio of 44.05, a P/E/G ratio of 4.81 and a beta of 1.35. 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, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The business’s fifty day simple moving average is $245.21 and its 200-day simple moving average is $238.24.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the company posted $0.40 earnings per share. The firm’s revenue was up 16.5% on a year-over-year basis. As a group, equities research analysts predict that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Insider Activity at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 281,000 shares of the company’s stock, valued at approximately $68,004,810. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, major shareholder David A. Duffield sold 56,000 shares of the business’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 sale, the insider now owns 281,000 shares in the company, valued at approximately $68,004,810. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,902,816.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 370,575 shares of company stock valued at $91,506,897 over the last 90 days. Insiders own 20.00% of the company’s stock.

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.