F M Investments LLC Raises Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

F M Investments LLC grew its holdings in Workday, Inc. (NASDAQ:WDAY) by 40.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,360 shares of the software maker’s stock after buying an additional 20,190 shares during the quarter. F M Investments LLC’s holdings in Workday were worth $17,196,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Crewe Advisors LLC purchased a new position in Workday during the first quarter valued at $27,000. SouthState Corp raised its holdings in shares of Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after acquiring an additional 129 shares during the last quarter. Pacific Center for Financial Services lifted its position in shares of Workday by 57.0% in the first quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock valued at $43,000 after acquiring an additional 57 shares in the last quarter. Goodman Advisory Group LLC purchased a new stake in shares of Workday during the second quarter worth approximately $35,000. Finally, Asset Dedication LLC purchased a new position in Workday in the 2nd quarter valued at $36,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Price Performance

Shares of WDAY traded up $5.27 during mid-day trading on Friday, hitting $239.12. The company’s stock had a trading volume of 1,804,154 shares, compared to its average volume of 1,456,817. The firm has a 50-day simple moving average of $246.99 and a 200 day simple moving average of $236.26. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The firm has a market capitalization of $63.37 billion, a P/E ratio of 41.66, a P/E/G ratio of 4.64 and a beta of 1.35. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36.

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

Insiders Place Their Bets

In related news, insider Richard Harry Sauer sold 3,134 shares of the firm’s 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 sale, the insider now owns 85,795 shares in the company, valued at approximately $20,228,745.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Workday 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 sale, the insider now owns 85,795 shares in the company, valued at $20,228,745.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the transaction, the insider now directly owns 281,000 shares of the company’s stock, valued at $68,004,810. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 370,575 shares of company stock worth $91,506,897. Insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WDAY. Citigroup reduced their target price on shares of Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Stifel Nicolaus raised their target price on shares of Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Needham & Company LLC dropped their price target on Workday from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Wells Fargo & Company increased their price target on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. One research 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 stock. Based on data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and a consensus target price of $287.04.

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.