Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Brooklyn Investment Group

Brooklyn Investment Group increased its position in Workday, Inc. (NASDAQ:WDAY) by 18.8% during the third quarter, Holdings Channel reports. The fund owned 1,100 shares of the software maker’s stock after purchasing an additional 174 shares during the quarter. Brooklyn Investment Group’s holdings in Workday were worth $269,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in WDAY. The Manufacturers Life Insurance Company grew 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 purchasing an additional 1,016,394 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Workday by 17,345.2% in the 2nd 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. boosted its holdings in shares of Workday by 152.1% in 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 acquiring an additional 312,500 shares in the last quarter. Lindbrook Capital LLC increased its stake in shares of 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 acquiring an additional 284,266 shares during the period. Finally, Rokos Capital Management LLP raised its holdings in Workday by 332.4% during the first quarter. Rokos Capital Management LLP now owns 332,986 shares of the software maker’s stock worth $90,839,000 after purchasing an additional 255,971 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $270.19 on Wednesday. The business’s 50-day simple moving average is $248.52 and its 200-day simple moving average is $237.21. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The firm has a market cap of $71.60 billion, a price-to-earnings ratio of 47.07, a P/E/G ratio of 5.31 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 earnings per share. As a group, equities research analysts expect that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on WDAY. Wells Fargo & Company increased 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. Barclays lifted their target price on Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Piper Sandler restated an “overweight” rating and issued a $285.00 price target on shares of Workday in a research report on Wednesday, September 18th. Stifel Nicolaus lifted their price target on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Finally, DA Davidson raised their target price on shares of Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $289.46.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated 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 sale, the insider now directly owns 281,000 shares of the company’s stock, valued at $68,004,810. This trade represents a 16.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,828 shares of the company’s stock in a transaction that occurred on 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 directly 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 disclosure for this sale can be found here. Insiders sold 359,954 shares of company stock worth $88,742,132 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.