ING Groep NV Buys 18,745 Shares of Workday, Inc. (NASDAQ:WDAY)

ING Groep NV lifted its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 97.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,970 shares of the software maker's stock after buying an additional 18,745 shares during the quarter. ING Groep NV's holdings in Workday were worth $9,280,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Workday in the third quarter worth $26,000. Crewe Advisors LLC bought a new position in Workday in the 1st quarter worth about $27,000. SouthState Corp raised its holdings in shares of Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker's stock valued at $34,000 after acquiring an additional 129 shares in the last quarter. Goodman Advisory Group LLC purchased a new stake in shares of Workday in the 2nd quarter valued at about $35,000. Finally, Asset Dedication LLC bought a new stake in shares of Workday during the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Workday Stock Down 4.4 %

Shares of WDAY stock traded down $12.08 during mid-day trading on Friday, reaching $259.41. 2,035,742 shares of the company's stock traded hands, compared to its average volume of 2,103,628. 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 company's 50-day moving average price is $246.64 and its 200-day moving average price is $236.52. The company has a market cap of $68.74 billion, a P/E ratio of 46.07, a P/E/G ratio of 5.49 and a beta of 1.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating 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 business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the firm earned $0.40 earnings per share. The business's revenue for the quarter was up 16.5% on a year-over-year basis. On average, equities analysts expect that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on 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 in the company, valued at approximately $68,004,810. This trade represents a 16.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.32, for a total value of $1,952,400.00. Following the completion of the sale, the director now directly owns 97,500 shares of the company's stock, valued at approximately $25,381,200. The trade was a 7.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 370,575 shares of company stock worth $91,506,897. 20.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WDAY. DA Davidson raised their target price on shares of Workday from $255.00 to $270.00 and gave the company a "neutral" rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft increased their target price on Workday from $265.00 to $275.00 and gave the company a "hold" rating in a research note on Friday, August 23rd. Piper Sandler reaffirmed an "overweight" rating and set a $285.00 price target on shares of Workday in a research note on Wednesday, September 18th. Loop Capital increased their price objective on Workday from $255.00 to $270.00 and gave the company a "hold" rating in a research report on Thursday. Finally, Citigroup cut their target price on Workday from $274.00 to $270.00 and set a "neutral" rating for the company in a research note on Wednesday, September 25th. One equities research 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. Based on data from MarketBeat, Workday currently has a consensus rating of "Moderate Buy" and a consensus price target of $287.59.

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.