ING Groep NV Acquires 18,745 Shares of Workday, Inc. (NASDAQ:WDAY)

ING Groep NV raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 97.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,970 shares of the software maker’s stock after acquiring an additional 18,745 shares during the quarter. ING Groep NV’s holdings in Workday were worth $9,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Bleakley Financial Group LLC lifted its holdings in Workday by 2.5% during the 1st quarter. Bleakley Financial Group LLC now owns 3,335 shares of the software maker’s stock worth $910,000 after purchasing an additional 80 shares in the last quarter. Koshinski Asset Management Inc. bought a new position in Workday in the 1st quarter valued at $269,000. Kingsview Wealth Management LLC grew its position in shares of Workday by 52.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 4,963 shares of the software maker’s stock valued at $1,354,000 after purchasing an additional 1,705 shares in the last quarter. HBK Sorce Advisory LLC purchased a new stake in shares of Workday in the first quarter worth $220,000. Finally, Dorsey & Whitney Trust CO LLC boosted its stake in Workday by 4.4% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,031 shares of the software maker’s stock valued at $281,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WDAY. Bank of America lifted their price target on Workday from $265.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Morgan Stanley lowered their price target on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and issued a $285.00 price objective on shares of Workday in a report on Wednesday, September 18th. Finally, JMP Securities reiterated a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $287.59.

Workday Stock Performance

Workday stock opened at $271.49 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock’s 50 day moving average is $246.33 and its 200 day moving average is $236.28. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The company has a market capitalization of $71.94 billion, a P/E ratio of 47.30, a PEG ratio of 5.49 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.10. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. On average, equities research analysts predict that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction that occurred on 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 directly owns 97,500 shares in the company, valued at $25,381,200. The trade was a 7.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Richard Harry Sauer sold 3,134 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total transaction of $738,934.52. Following the transaction, the insider now owns 85,795 shares in the company, valued at approximately $20,228,745.10. This trade represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 370,575 shares of company stock valued at $91,506,897. Insiders own 20.00% of the company’s stock.

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.