Grafton Street Partners Fund LP Invests $4.42 Million in Workday, Inc. (NASDAQ:WDAY)

Grafton Street Partners Fund LP acquired a new position in Workday, Inc. (NASDAQ:WDAY - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,100 shares of the software maker's stock, valued at approximately $4,424,000. Workday accounts for 3.5% of Grafton Street Partners Fund LP's portfolio, making the stock its 12th biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dorsey & Whitney Trust CO LLC grew its position in Workday by 4.4% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,031 shares of the software maker's stock valued at $281,000 after buying an additional 43 shares during the period. Diversified Trust Co increased its stake in shares of Workday by 1.0% in the 2nd quarter. Diversified Trust Co now owns 4,830 shares of the software maker's stock valued at $1,080,000 after purchasing an additional 47 shares in the last quarter. Opal Wealth Advisors LLC boosted its position in Workday by 5.2% during the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker's stock worth $231,000 after purchasing an additional 47 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its holdings in Workday by 3.4% in the second quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker's stock valued at $324,000 after purchasing an additional 48 shares during the period. Finally, Aspen Investment Management Inc increased its position in shares of Workday by 3.1% in the second quarter. Aspen Investment Management Inc now owns 1,650 shares of the software maker's stock valued at $369,000 after buying an additional 50 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 66,492 shares of the business'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 sale, the insider now owns 102,997 shares of the company's stock, valued at $26,902,816.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Workday news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the completion of the transaction, the director now owns 97,500 shares in the company, valued at approximately $25,381,200. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $17,367,710.40. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at $26,902,816.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 370,575 shares of company stock valued at $91,506,897. Corporate insiders own 20.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Canaccord Genuity Group reissued a "buy" rating and issued a $300.00 price target on shares of Workday in a report on Friday, September 13th. KeyCorp raised their price target on shares of Workday from $275.00 to $305.00 and gave the company an "overweight" rating in a research note on Friday, August 23rd. Morgan Stanley cut 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. Evercore ISI lowered their price target on Workday from $300.00 to $290.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company upped their target price on shares of Workday from $260.00 to $300.00 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 issued a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, Workday presently has an average rating of "Moderate Buy" and an average target price of $287.04.

Workday Stock Up 2.3 %

Shares of WDAY stock traded up $6.19 during trading hours on Wednesday, reaching $276.51. 2,746,711 shares of the stock were exchanged, compared to its average volume of 2,105,852. The firm has a market capitalization of $73.28 billion, a P/E ratio of 48.13, a P/E/G ratio of 5.37 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The business's fifty day moving average is $245.97 and its two-hundred day moving average is $235.99.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.10. The company had revenue of $2.09 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. As a group, research analysts expect that Workday, Inc. will post 2.4 EPS for the current fiscal year.

About Workday

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.