Douglas Lane & Associates LLC Grows Holdings in Workday, Inc. (NASDAQ:WDAY)

Douglas Lane & Associates LLC increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 100.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,533 shares of the software maker's stock after purchasing an additional 83,793 shares during the period. Douglas Lane & Associates LLC owned approximately 0.06% of Workday worth $40,947,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in WDAY. The Manufacturers Life Insurance Company boosted its holdings in Workday by 79.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker's stock worth $514,637,000 after purchasing an additional 1,016,394 shares during the last quarter. Van ECK Associates Corp lifted its stake in Workday by 17,345.2% in the 2nd quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker's stock valued at $208,068,000 after purchasing an additional 925,366 shares during the last quarter. Vanguard Group Inc. grew its holdings in Workday by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker's stock worth $3,988,549,000 after purchasing an additional 437,215 shares during the period. D1 Capital Partners L.P. increased its position in Workday by 152.1% during the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker's stock worth $115,804,000 after buying an additional 312,500 shares during the last quarter. Finally, Sustainable Growth Advisers LP raised its stake in Workday by 9.7% in the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker's stock valued at $927,998,000 after buying an additional 301,463 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Insider Activity at Workday

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.29, for a total transaction of $812,365.09. Following the transaction, the insider now directly owns 196,344 shares in the company, valued at $51,106,379.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Richard Harry Sauer sold 3,134 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the transaction, the insider now owns 85,795 shares in the company, valued at approximately $20,228,745.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 196,344 shares in the company, valued at $51,106,379.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 312,747 shares of company stock valued at $77,512,235. 20.00% of the stock is owned by company insiders.

Workday Price Performance

WDAY traded down $4.26 during trading on Friday, hitting $240.90. The company's stock had a trading volume of 1,713,210 shares, compared to its average volume of 1,854,040. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $63.84 billion, a price-to-earnings ratio of 43.41, a P/E/G ratio of 4.87 and a beta of 1.35. The business's fifty day simple moving average is $241.97 and its 200 day simple moving average is $239.04. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $2.09 billion during the quarter, compared to analysts' expectations of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm's revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 earnings per share. On average, equities research analysts forecast that Workday, Inc. will post 2.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on WDAY shares. Guggenheim restated a "sell" rating and issued a $190.00 price target on shares of Workday in a research note on Tuesday, June 25th. DA Davidson increased their price objective on shares of Workday from $255.00 to $270.00 and gave the stock a "neutral" rating in a research note on Friday, August 23rd. BMO Capital Markets reaffirmed an "outperform" rating and issued a $300.00 target price on shares of Workday in a report on Wednesday, September 18th. JMP Securities reissued a "market outperform" rating and set a $315.00 price target on shares of Workday in a report on Thursday, September 19th. Finally, Loop Capital raised their price objective on Workday from $240.00 to $255.00 and gave the company a "hold" 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 given a buy rating to the company. According to data from MarketBeat.com, Workday has a consensus rating of "Moderate Buy" and an average target price of $287.04.

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.