Empowered Funds LLC Increases Holdings in Workday, Inc. (NASDAQ:WDAY)

Empowered Funds LLC increased its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 38.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,349 shares of the software maker's stock after acquiring an additional 2,049 shares during the quarter. Empowered Funds LLC's holdings in Workday were worth $1,796,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of WDAY. ORG Partners LLC raised its holdings in Workday by 3,717.9% during the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker's stock worth $721,000 after acquiring an additional 3,123 shares in the last quarter. Grafton Street Partners Fund LP acquired a new position in shares of Workday during the 3rd quarter worth about $4,424,000. ICICI Prudential Asset Management Co Ltd raised its stake in Workday by 32.4% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker's stock valued at $7,791,000 after buying an additional 7,802 shares during the period. Legal & General Group Plc increased its holdings in shares of Workday by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker's stock worth $384,518,000 after acquiring an additional 118,180 shares during the last quarter. Finally, Atria Investments Inc increased its holdings in shares of Workday by 19.3% in the third quarter. Atria Investments Inc now owns 44,324 shares of the software maker's stock valued at $10,833,000 after purchasing an additional 7,175 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Price Performance

NASDAQ:WDAY opened at $263.33 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The firm's 50-day simple moving average is $247.02 and its 200 day simple moving average is $236.73. The firm has a market cap of $69.78 billion, a price-to-earnings ratio of 45.20, a P/E/G ratio of 5.16 and a beta of 1.35.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping analysts' consensus estimates of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the previous year, the firm posted $0.40 EPS. The company's revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, sell-side analysts predict that Workday, Inc. will post 2.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. DA Davidson upped their price objective on Workday from $255.00 to $270.00 and gave the company a "neutral" rating in a report on Friday, August 23rd. Citigroup reduced their price target on Workday from $274.00 to $270.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 25th. Wells Fargo & Company boosted their price target on Workday from $260.00 to $300.00 and gave the stock an "overweight" rating in a report on Friday, August 23rd. JMP Securities reissued a "market outperform" rating and set a $315.00 target price on shares of Workday in a research note on Thursday, September 19th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $300.00 price target on shares of Workday in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the company's stock. According to MarketBeat.com, Workday presently has an average rating of "Moderate Buy" and a consensus price target of $289.46.

Insider Buying and Selling

In other news, insider Douglas A. Robinson sold 3,121 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.29, for a total transaction of $812,365.09. Following the sale, the insider now owns 196,344 shares in the company, valued at approximately $51,106,379.76. The trade was a 1.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 completion of the transaction, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 370,575 shares of company stock valued at $91,506,897. 20.00% of the stock is owned by company insiders.

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.