Lebenthal Global Advisors LLC Buys New Stake in Workday, Inc. (NASDAQ:WDAY)

Lebenthal Global Advisors LLC purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,073 shares of the software maker’s stock, valued at approximately $296,000.

Several other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Workday by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 14,010,910 shares of the software maker’s stock valued at $3,010,244,000 after buying an additional 263,994 shares during the period. Wellington Management Group LLP raised its stake in shares of Workday by 37.4% in the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after acquiring an additional 1,406,153 shares during the period. Polen Capital Management LLC lifted its holdings in shares of Workday by 2.0% in the 3rd quarter. Polen Capital Management LLC now owns 3,950,320 shares of the software maker’s stock worth $848,726,000 after acquiring an additional 78,352 shares during the last quarter. Morgan Stanley boosted its stake in shares of Workday by 47.0% during the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock worth $586,021,000 after purchasing an additional 872,288 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Workday by 8.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,629,780 shares of the software maker’s stock valued at $564,976,000 after purchasing an additional 206,112 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of several recent analyst reports. Guggenheim restated a “sell” rating and set a $190.00 target price on shares of Workday in a research report on Tuesday, February 27th. StockNews.com downgraded Workday from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. lifted their target price on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. The Goldman Sachs Group upped their price target on shares of Workday from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, TheStreet upgraded shares of Workday from a “c” rating to a “b-” rating in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $293.61.

Workday Stock Performance

WDAY opened at $246.34 on Friday. The firm’s 50-day moving average price is $263.22 and its 200-day moving average price is $266.06. The company has a market cap of $65.03 billion, a P/E ratio of 47.83, a price-to-earnings-growth ratio of 6.15 and a beta of 1.33. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 52-week low of $174.70 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.10. Workday had a net margin of 19.02% and a return on equity of 4.87%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the business posted ($0.14) EPS. Workday’s revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, equities analysts anticipate that Workday, Inc. will post 1.76 EPS for the current fiscal year.

Insider Activity at Workday

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the sale, the insider now owns 165,932 shares of the company’s stock, valued at approximately $48,749,162.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder David A. Duffield sold 64,329 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $268.85, for a total value of $17,294,851.65. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $27,690,743.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the transaction, the insider now directly owns 165,932 shares of the company’s stock, valued at approximately $48,749,162.28. The disclosure for this sale can be found here. Insiders have sold a total of 435,691 shares of company stock valued at $117,731,569 in the last ninety days. Company insiders own 21.09% 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.