Stance Capital LLC Buys Shares of 5,317 Workday, Inc. $WDAY

Stance Capital LLC purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 5,317 shares of the software maker’s stock, valued at approximately $1,276,000.

A number of other large investors have also made changes to their positions in WDAY. Verdence Capital Advisors LLC boosted its holdings in Workday by 1.0% during the second quarter. Verdence Capital Advisors LLC now owns 4,381 shares of the software maker’s stock worth $1,051,000 after buying an additional 45 shares in the last quarter. Perennial Investment Advisors LLC lifted its position in shares of Workday by 2.8% during the 2nd quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker’s stock valued at $418,000 after acquiring an additional 48 shares during the period. Johnson Investment Counsel Inc. boosted its stake in shares of Workday by 2.3% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,201 shares of the software maker’s stock worth $528,000 after acquiring an additional 49 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in shares of Workday by 1.1% during the 2nd quarter. Kingsview Wealth Management LLC now owns 4,544 shares of the software maker’s stock worth $1,091,000 after acquiring an additional 50 shares in the last quarter. Finally, Strategic Investment Advisors MI grew its holdings in shares of Workday by 1.6% in the 2nd quarter. Strategic Investment Advisors MI now owns 3,263 shares of the software maker’s stock worth $777,000 after acquiring an additional 50 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Price Performance

WDAY stock opened at $224.49 on Monday. The stock has a market capitalization of $59.04 billion, a price-to-earnings ratio of 94.32, a price-to-earnings-growth ratio of 2.55 and a beta of 1.15. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34. Workday, Inc. has a 52-week low of $205.33 and a 52-week high of $283.68. The stock’s fifty day simple moving average is $229.02 and its 200-day simple moving average is $232.67.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.15. Workday had a return on equity of 10.50% and a net margin of 6.95%.The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the prior year, the business posted $1.89 earnings per share. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. Equities research analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Analysts Set New Price Targets

WDAY has been the topic of several research reports. Royal Bank Of Canada lowered their target price on Workday from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Wednesday, November 26th. Cowen restated a “buy” rating on shares of Workday in a report on Wednesday, November 26th. Bank of America cut their price objective on Workday from $295.00 to $278.00 and set a “buy” rating for the company in a research report on Tuesday, August 19th. Macquarie reiterated a “buy” rating on shares of Workday in a report on Wednesday, November 26th. Finally, Wells Fargo & Company cut their price target on Workday from $300.00 to $290.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $282.13.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 82,025 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $212.19, for a total value of $17,404,884.75. Following the completion of the sale, the insider directly owned 105,049 shares in the company, valued at approximately $22,290,347.31. The trade was a 43.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $237.52, for a total transaction of $1,484,500.00. Following the transaction, the chief executive officer directly owned 20,222 shares of the company’s stock, valued at $4,803,129.44. This trade represents a 23.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 330,798 shares of company stock worth $75,284,304. 20.00% of the stock is currently owned by insiders.

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.