Victory Capital Management Inc. Has $39.16 Million Stock Position in Workday, Inc. (NASDAQ:WDAY)

Victory Capital Management Inc. lowered its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 3.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 160,237 shares of the software maker’s stock after selling 5,862 shares during the period. Victory Capital Management Inc. owned approximately 0.06% of Workday worth $39,164,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. ORG Partners LLC grew its stake in Workday by 3,717.9% in the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after acquiring an additional 3,123 shares during the period. O Shaughnessy Asset Management LLC grew its stake in Workday by 42.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 13,380 shares of the software maker’s stock valued at $3,649,000 after acquiring an additional 3,965 shares during the period. Vanguard Group Inc. grew its stake in Workday by 2.2% in the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after acquiring an additional 324,540 shares during the period. Legal & General Group Plc grew its stake in Workday by 7.4% in the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after acquiring an additional 118,180 shares during the period. Finally, Atria Investments Inc grew its stake in Workday by 19.3% in the third quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock valued at $10,833,000 after acquiring an additional 7,175 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on WDAY shares. Piper Sandler restated an “overweight” rating and issued a $285.00 target price on shares of Workday in a report on Wednesday, September 18th. Barclays raised their target price on Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Wells Fargo & Company raised their target price on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Loop Capital raised their target price on Workday from $255.00 to $270.00 and gave the company a “hold” rating in a report on Thursday. Finally, The Goldman Sachs Group raised their target price on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $287.59.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $26,902,816.40. This represents a 39.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the sale, the director now owns 8,674 shares of the company’s stock, valued at $2,097,806.90. This represents a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 370,575 shares of company stock worth $91,506,897. 20.00% of the stock is currently owned by corporate insiders.

Workday Price Performance

Shares of NASDAQ WDAY opened at $259.41 on Friday. The firm has a market capitalization of $68.74 billion, a P/E ratio of 45.19, a P/E/G ratio of 5.49 and a beta of 1.35. 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 simple moving average is $246.64 and its two-hundred day simple moving average is $236.52. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share (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 firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the business earned $0.40 EPS. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, equities analysts anticipate that Workday, Inc. will post 2.4 EPS for the current fiscal year.

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.