Stonegate Investment Group LLC Has $5.11 Million Stock Position in Workday, Inc. (NASDAQ:WDAY)

Stonegate Investment Group LLC boosted its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 22.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,898 shares of the software maker's stock after purchasing an additional 3,790 shares during the period. Stonegate Investment Group LLC's holdings in Workday were worth $5,108,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in WDAY. Integrated Advisors Network LLC purchased a new stake in shares of Workday during the 4th quarter worth about $276,000. American International Group Inc. lifted its stake in Workday by 3.0% in the fourth quarter. American International Group Inc. now owns 14,523 shares of the software maker's stock valued at $4,009,000 after acquiring an additional 420 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Workday by 38.1% during the 1st quarter. GAMMA Investing LLC now owns 634 shares of the software maker's stock worth $173,000 after purchasing an additional 175 shares during the last quarter. Mather Group LLC. bought a new position in shares of Workday during the 1st quarter valued at $74,000. Finally, Wedmont Private Capital lifted its stake in shares of Workday by 8.3% in the 1st quarter. Wedmont Private Capital now owns 1,095 shares of the software maker's stock valued at $297,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on WDAY shares. Needham & Company LLC cut their target price on Workday from $350.00 to $300.00 and set a "buy" rating on the stock in a report on Wednesday, September 18th. Evercore ISI cut their price objective on Workday from $300.00 to $290.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 20th. KeyCorp upped their target price on Workday from $275.00 to $305.00 and gave the stock an "overweight" rating in a research report on Friday, August 23rd. BMO Capital Markets reissued an "outperform" rating and issued a $300.00 price target on shares of Workday in a research report on Wednesday, September 18th. Finally, Stifel Nicolaus raised their target price on shares of Workday from $250.00 to $270.00 and gave the company a "hold" rating in a research note on Friday, August 23rd. One research 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $287.04.

Workday Price Performance

Workday stock traded up $1.22 during mid-day trading on Friday, hitting $244.48. 955,742 shares of the company were exchanged, compared to its average volume of 2,148,866. Workday, Inc. has a 1-year low of $199.81 and a 1-year 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 business has a fifty day moving average of $245.21 and a 200 day moving average of $238.24. The company has a market capitalization of $64.79 billion, a PE ratio of 44.05, a price-to-earnings-growth ratio of 4.81 and a beta of 1.35.

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

Insider Transactions at Workday

In other Workday news, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the completion of the transaction, the insider now owns 85,795 shares in the company, valued at approximately $20,228,745.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Workday news, insider Richard Harry Sauer sold 3,134 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total transaction of $738,934.52. Following the sale, the insider now owns 85,795 shares of the company's stock, valued at $20,228,745.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the business's stock in a transaction dated Monday, August 26th. The stock was 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 directly owns 97,500 shares of the company's stock, valued at approximately $25,381,200. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 370,575 shares of company stock valued at $91,506,897 in the last three months. 20.00% of the stock is owned by corporate insiders.

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.