Pitcairn Co. Buys 1,153 Shares of Workday, Inc. (NASDAQ:WDAY)

Pitcairn Co. increased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 8.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,037 shares of the software maker’s stock after purchasing an additional 1,153 shares during the quarter. Pitcairn Co.’s holdings in Workday were worth $3,431,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Workday in the third quarter valued at approximately $26,000. SouthState Corp boosted its stake in Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after acquiring an additional 129 shares during the last quarter. Crewe Advisors LLC boosted its stake in Workday by 56.6% in the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock valued at $35,000 after acquiring an additional 56 shares during the last quarter. Goodman Advisory Group LLC bought a new position in Workday in the second quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. boosted its stake in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $260.32, for a total value of $1,952,400.00. Following the completion of the sale, the director now owns 97,500 shares in the company, valued at $25,381,200. The trade was a 7.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $260.29, for a total transaction of $812,365.09. Following the completion of the sale, the insider now owns 196,344 shares of the company’s stock, valued at $51,106,379.76. This trade represents a 1.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 370,575 shares of company stock valued at $91,506,897. Company insiders own 20.00% of the company’s stock.

Workday Stock Performance

Shares of WDAY opened at $267.75 on Friday. The company has a market cap of $70.95 billion, a PE ratio of 46.65, a price-to-earnings-growth ratio of 5.32 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a 50-day moving average of $247.71 and a 200-day moving average of $237.07. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on WDAY shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Workday from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. JMP Securities reiterated a “market outperform” rating and issued a $315.00 target price on shares of Workday in a report on Thursday, September 19th. Canaccord Genuity Group reiterated a “buy” rating and issued a $300.00 target price on shares of Workday in a report on Friday, September 13th. KeyCorp increased their target price on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, The Goldman Sachs Group increased their target price on shares of Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, Workday presently has an average rating of “Moderate Buy” and an average target price of $289.46.

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.