Cranbrook Wealth Management LLC Takes $128,000 Position in Workday, Inc. (NASDAQ:WDAY)

Cranbrook Wealth Management LLC purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 572 shares of the software maker’s stock, valued at approximately $128,000.

A number of other institutional investors have also added to or reduced their stakes in WDAY. Crewe Advisors LLC acquired a new position in shares of Workday during the first quarter worth approximately $27,000. Sound Income Strategies LLC raised its holdings in Workday by 74.2% during the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after buying an additional 49 shares during the last quarter. SouthState Corp raised its holdings in Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after buying an additional 129 shares during the last quarter. Asset Dedication LLC bought a new position in shares of Workday in the second quarter valued at $36,000. Finally, PSI Advisors LLC acquired a new position in shares of Workday during the second quarter valued at about $38,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder David A. Duffield sold 78,279 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $223.89, for a total value of $17,525,885.31. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $23,059,998.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder David A. Duffield sold 78,279 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $223.89, for a total value of $17,525,885.31. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $23,059,998.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $260.29, for a total transaction of $812,365.09. Following the transaction, the insider now owns 196,344 shares in the company, valued at $51,106,379.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 466,402 shares of company stock worth $107,992,034. 20.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

WDAY has been the topic of several recent research reports. Evercore ISI dropped their price target 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. 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. KeyCorp upped their target price on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Bank of America raised their price target on shares of Workday from $265.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Citigroup reduced their price objective on shares of Workday from $293.00 to $255.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $288.15.

Workday Price Performance

Shares of NASDAQ WDAY opened at $249.21 on Tuesday. The stock’s 50-day simple moving average is $235.70 and its two-hundred day simple moving average is $242.70. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The firm has a market capitalization of $66.04 billion, a P/E ratio of 44.90, a P/E/G ratio of 5.40 and a beta of 1.35. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $2.07 billion. During the same period last year, the firm posted $0.40 earnings per share. Workday’s quarterly revenue was up 16.5% on a year-over-year basis. As a group, equities analysts anticipate that Workday, Inc. will post 2.27 EPS for the current fiscal year.

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.