Russell Investments Group Ltd. Has $88.49 Million Stock Holdings in Workday, Inc. $WDAY

Russell Investments Group Ltd. increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 50.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 368,870 shares of the software maker’s stock after purchasing an additional 123,887 shares during the quarter. Russell Investments Group Ltd.’s holdings in Workday were worth $88,490,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Dagco Inc. acquired a new stake in shares of Workday during the 1st quarter worth $31,000. Golden State Wealth Management LLC grew its holdings in shares of Workday by 2,216.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock valued at $33,000 after purchasing an additional 133 shares during the last quarter. Physician Wealth Advisors Inc. bought a new stake in shares of Workday during the second quarter worth $42,000. Geneos Wealth Management Inc. increased its holdings in Workday by 211.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock worth $44,000 after purchasing an additional 127 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Workday in the first quarter valued at approximately $48,000. Institutional investors own 89.81% of the company’s stock.

Workday Trading Down 7.9%

Shares of Workday stock opened at $215.34 on Thursday. Workday, Inc. has a 12-month low of $205.33 and a 12-month high of $294.00. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.33. The company has a market cap of $57.50 billion, a price-to-earnings ratio of 90.48, a PEG ratio of 2.90 and a beta of 1.11. The company’s 50-day moving average price is $233.95 and its 200-day moving average price is $236.47.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.15. Workday had a return on equity of 10.45% and a net margin of 6.95%.The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter last year, the company posted $1.89 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JMP Securities reissued a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research note on Wednesday, September 17th. Royal Bank Of Canada dropped their price objective on shares of Workday from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Wednesday. Zacks Research cut Workday from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Workday in a research report on Wednesday. Finally, Raymond James Financial began coverage on shares of Workday in a report on Friday, November 21st. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $282.70.

Insider Activity at Workday

In other news, Director Michael M. Mcnamara sold 5,393 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $235.16, for a total value of $1,268,217.88. Following the transaction, the director owned 24,078 shares in the company, valued at approximately $5,662,182.48. This trade represents a 18.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $232.62, for a total value of $1,395,720.00. Following the completion of the sale, the chief financial officer directly owned 168,468 shares in the company, valued at $39,189,026.16. The trade was a 3.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 264,933 shares of company stock worth $61,475,760 over the last three months. Corporate insiders own 19.31% of the company’s stock.

About Workday

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.