Los Angeles Capital Management LLC Has $7.45 Million Position in Workday, Inc. (NASDAQ:WDAY)

Los Angeles Capital Management LLC grew its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 12.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,483 shares of the software maker's stock after buying an additional 3,470 shares during the period. Los Angeles Capital Management LLC's holdings in Workday were worth $7,450,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in WDAY. Capital Performance Advisors LLP acquired a new stake in shares of Workday in the third quarter worth approximately $26,000. Crewe Advisors LLC purchased a new position in shares of Workday in the 1st quarter worth about $27,000. SouthState Corp raised its stake 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 during the period. Goodman Advisory Group LLC acquired a new position in shares of Workday during the second quarter worth about $35,000. Finally, Asset Dedication LLC purchased a new position in shares of Workday in the second quarter valued at $36,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the transaction, the insider now directly owns 281,000 shares of the company's stock, valued at $68,004,810. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the company's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the completion of the sale, the insider now directly owns 281,000 shares in the company, valued at $68,004,810. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $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. In the last 90 days, insiders have sold 370,575 shares of company stock worth $91,506,897. 20.00% of the stock is owned by corporate insiders.

Workday Stock Up 1.8 %

Shares of Workday stock traded up $4.76 on Tuesday, hitting $268.91. 1,499,157 shares of the company traded hands, compared to its average volume of 2,097,583. The company has a market cap of $71.26 billion, a PE ratio of 46.02, a PEG ratio of 5.09 and a beta of 1.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. 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 has a 50-day moving average price of $245.77 and a 200 day moving average price of $235.86.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $300.00 target price on shares of Workday in a research report on Friday, September 13th. BMO Capital Markets restated an "outperform" rating and issued a $300.00 target price on shares of Workday in a research note on Wednesday, September 18th. Piper Sandler restated an "overweight" rating and set a $285.00 price objective on shares of Workday in a research report on Wednesday, September 18th. Needham & Company LLC dropped their price objective on shares of Workday from $350.00 to $300.00 and set a "buy" rating on the stock in a report on Wednesday, September 18th. Finally, Barclays boosted their target price on shares of Workday from $286.00 to $289.00 and gave the company an "overweight" rating in a research note 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 company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $287.04.

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.