Workday, Inc. (NASDAQ:WDAY) Shares Bought by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 43.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,199 shares of the software maker’s stock after acquiring an additional 1,573 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Workday were worth $1,271,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new position in Workday in the 3rd quarter valued at about $26,000. SouthState Corp raised its position in shares of 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 buying an additional 129 shares during the last quarter. Crewe Advisors LLC lifted its stake in shares of Workday by 56.6% during the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock valued at $35,000 after buying an additional 56 shares during the period. Goodman Advisory Group LLC acquired a new stake in Workday during the second quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. grew its stake in Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Workday stock opened at $270.88 on Wednesday. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The company has a market capitalization of $71.78 billion, a price-to-earnings ratio of 44.92, a price-to-earnings-growth ratio of 4.91 and a beta of 1.34. The firm’s fifty day moving average price is $251.13 and its 200 day moving average price is $237.53.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 earnings per share. On average, research analysts forecast that Workday, Inc. will post 2.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WDAY. Needham & Company LLC reissued a “buy” rating and set a $300.00 price target on shares of Workday in a research note on Monday, November 25th. Bank of America decreased their price target on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. KeyCorp upped their price objective on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Morgan Stanley raised their target price on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Finally, The Goldman Sachs Group upped their price target on shares of Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $289.21.

Insider Activity

In related news, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the completion of the transaction, the insider now directly owns 85,795 shares in the company, valued at approximately $20,228,745.10. This trade represents a 3.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder David A. Duffield sold 70,003 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $251.20, for a total value of $17,584,753.60. Following the sale, the insider now owns 102,997 shares in the company, valued at $25,872,846.40. The trade was a 40.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 361,463 shares of company stock worth $88,422,088. 20.00% of the stock is currently owned by insiders.

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.