True Wealth Design LLC Raises Holdings in Workday, Inc. (NASDAQ:WDAY)

True Wealth Design LLC lifted its holdings in Workday, Inc. (NASDAQ:WDAY) by 4,766.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146 shares of the software maker’s stock after purchasing an additional 143 shares during the quarter. True Wealth Design LLC’s holdings in Workday were worth $36,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of WDAY. The Manufacturers Life Insurance Company increased its holdings in Workday by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after buying an additional 1,016,394 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Workday by 17,345.2% in the second quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock worth $208,068,000 after acquiring an additional 925,366 shares during the period. D1 Capital Partners L.P. raised its holdings in shares of Workday by 152.1% during the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock valued at $115,804,000 after purchasing an additional 312,500 shares during the last quarter. Lindbrook Capital LLC lifted its position in Workday by 17,001.6% during the third quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock valued at $703,000 after purchasing an additional 284,266 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in Workday by 24,593.2% in the third quarter. International Assets Investment Management LLC now owns 215,325 shares of the software maker’s stock worth $52,628,000 after purchasing an additional 214,453 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WDAY. Loop Capital decreased their target price on shares of Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Morgan Stanley increased their target price on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Wells Fargo & Company boosted their price target on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. DA Davidson increased their price objective 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. Finally, BMO Capital Markets restated an “outperform” rating and set a $300.00 target price on shares of Workday in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $288.14.

Workday Stock Down 1.3 %

Shares of WDAY stock opened at $249.99 on Monday. The company’s fifty day simple moving average is $248.77 and its two-hundred day simple moving average is $237.30. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The stock has a market cap of $66.25 billion, a P/E ratio of 41.46, a PEG ratio of 4.96 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.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.21% and a net margin of 19.86%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the business earned $0.47 earnings per share. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. Analysts predict that Workday, Inc. will post 2.4 EPS for the current fiscal year.

Insider Activity

In related news, 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 completion of the transaction, the director now owns 8,674 shares of the company’s stock, valued at approximately $2,097,806.90. This trade represents a 17.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 66,492 shares of Workday 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 owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. This represents a 39.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 359,954 shares of company stock worth $88,742,132. 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.