Glenmede Trust Co. NA Grows Holdings in Workday, Inc. (NASDAQ:WDAY)

Glenmede Trust Co. NA lifted its position in shares of Workday, Inc. (NASDAQ:WDAY) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,344 shares of the software maker’s stock after acquiring an additional 6,368 shares during the quarter. Glenmede Trust Co. NA’s holdings in Workday were worth $37,968,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Silvercrest Asset Management Group LLC grew its holdings in Workday by 75.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 19,947 shares of the software maker’s stock valued at $5,441,000 after purchasing an additional 8,559 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in Workday by 27.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,417 shares of the software maker’s stock valued at $659,000 after acquiring an additional 525 shares during the period. Comerica Bank increased its holdings in Workday by 13.2% in the 1st quarter. Comerica Bank now owns 42,664 shares of the software maker’s stock worth $11,637,000 after acquiring an additional 4,977 shares in the last quarter. iA Global Asset Management Inc. raised its position in Workday by 6.7% during the first quarter. iA Global Asset Management Inc. now owns 32,180 shares of the software maker’s stock worth $8,777,000 after acquiring an additional 2,034 shares during the period. Finally, Plato Investment Management Ltd lifted its holdings in Workday by 2,119.4% during the first quarter. Plato Investment Management Ltd now owns 3,085 shares of the software maker’s stock valued at $841,000 after purchasing an additional 2,946 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Price Performance

WDAY stock opened at $270.19 on Wednesday. The business has a 50 day moving average price of $248.52 and a 200 day moving average price of $237.21. 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 has a market cap of $71.60 billion, a price-to-earnings ratio of 47.07, a PEG ratio of 5.31 and a beta of 1.35. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the business posted $0.47 EPS. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities research analysts anticipate that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $242.01, for a total value of $13,552,560.00. Following the completion of the sale, the insider now directly owns 281,000 shares of the company’s stock, valued at approximately $68,004,810. This represents a 16.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,828 shares of Workday stock in a transaction on Friday, October 11th. The shares were 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 directly owns 8,674 shares in the company, valued at $2,097,806.90. The trade was a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 359,954 shares of company stock worth $88,742,132 in the last quarter. 20.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Scotiabank assumed coverage on Workday in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price on the stock. Morgan Stanley reduced their price objective on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Stifel Nicolaus lifted 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. Finally, Piper Sandler reiterated a “neutral” rating and issued a $270.00 target price (down from $285.00) on shares of Workday in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $288.04.

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.