Cornerstone Capital Inc. Buys 11,330 Shares of Workday, Inc. (NASDAQ:WDAY)

Cornerstone Capital Inc. grew its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 12.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 105,662 shares of the software maker’s stock after buying an additional 11,330 shares during the quarter. Workday makes up 2.4% of Cornerstone Capital Inc.’s holdings, making the stock its 14th biggest holding. Cornerstone Capital Inc.’s holdings in Workday were worth $25,825,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in shares of Workday by 79.1% in the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after acquiring an additional 1,016,394 shares during the period. Van ECK Associates Corp lifted its holdings in Workday by 17,345.2% in the second quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock valued at $208,068,000 after buying an additional 925,366 shares during the period. Vanguard Group Inc. boosted its position in Workday by 2.2% during 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 last quarter. D1 Capital Partners L.P. grew its holdings in Workday by 152.1% during the 2nd quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock worth $115,804,000 after acquiring an additional 312,500 shares during the period. Finally, Sustainable Growth Advisers LP grew its stake in Workday by 9.7% during the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock worth $927,998,000 after purchasing an additional 301,463 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Stock Performance

WDAY traded down $0.63 on Tuesday, hitting $240.51. The company’s stock had a trading volume of 89,561 shares, compared to its average volume of 2,099,157. The company’s 50 day simple moving average is $246.61 and its 200-day simple moving average is $235.86. 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, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The firm has a market cap of $63.74 billion, a P/E ratio of 42.01, a price-to-earnings-growth ratio of 4.75 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced 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 company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share. Analysts forecast that Workday, Inc. will post 2.4 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on WDAY shares. Piper Sandler reiterated an “overweight” rating and issued a $285.00 price objective on shares of Workday in a research note on Wednesday, September 18th. Canaccord Genuity Group reiterated a “buy” rating and issued a $300.00 target price on shares of Workday in a report on Friday, September 13th. Bank of America boosted their target price on shares of Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Wells Fargo & Company raised their price target on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Barclays boosted their price objective on Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. One investment 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $287.04.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $26,902,816.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Wayne A.I. Frederick sold 1,828 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 370,575 shares of company stock worth $91,506,897 over the last ninety days. Company insiders own 20.00% of the company’s stock.

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.