Intellectus Partners LLC Grows Holdings in Workday, Inc. (NASDAQ:WDAY)

Intellectus Partners LLC lifted its position in shares of Workday, Inc. (NASDAQ:WDAY) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,596 shares of the software maker’s stock after buying an additional 104 shares during the quarter. Intellectus Partners LLC’s holdings in Workday were worth $1,612,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Workday in the 3rd quarter valued at $26,000. Crewe Advisors LLC purchased a new stake in shares of Workday in the first quarter valued at $27,000. SouthState Corp increased 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 purchasing an additional 129 shares during the last quarter. Goodman Advisory Group LLC purchased a new position in Workday during the second quarter worth about $35,000. Finally, Asset Dedication LLC purchased a new position in Workday during the second quarter worth about $36,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Performance

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

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

Analyst Ratings Changes

Several analysts have commented on WDAY shares. Bank of America lifted their price target on Workday from $265.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Loop Capital boosted their target price on shares of Workday from $255.00 to $270.00 and gave the company a “hold” rating in a report on Thursday. DA Davidson increased their price target on shares of Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft boosted 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. Finally, Citigroup cut their target price on Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $287.59.

Insiders Place Their Bets

In related 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 sale, the director now directly owns 97,500 shares in the company, valued at $25,381,200. This trade represents a 7.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,902,816.40. The trade was a 39.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 370,575 shares of company stock valued at $91,506,897 over the last 90 days. 20.00% of the stock is owned by company 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.