Van ECK Associates Corp Grows Stake in Workday, Inc. (NASDAQ:WDAY)

Van ECK Associates Corp lifted its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 0.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 934,828 shares of the software maker's stock after purchasing an additional 4,127 shares during the quarter. Van ECK Associates Corp owned 0.35% of Workday worth $226,266,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Dorsey & Whitney Trust CO LLC boosted its position in Workday by 4.4% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,031 shares of the software maker's stock worth $281,000 after purchasing an additional 43 shares in the last quarter. Diversified Trust Co grew its stake in Workday by 1.0% in the 2nd quarter. Diversified Trust Co now owns 4,830 shares of the software maker's stock valued at $1,080,000 after acquiring an additional 47 shares during the period. Opal Wealth Advisors LLC increased its holdings in Workday by 5.2% in the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker's stock worth $231,000 after acquiring an additional 47 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its position in Workday by 3.4% during the second quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker's stock worth $324,000 after acquiring an additional 48 shares during the period. Finally, Aspen Investment Management Inc lifted its holdings in Workday by 3.1% during the second quarter. Aspen Investment Management Inc now owns 1,650 shares of the software maker's stock valued at $369,000 after purchasing an additional 50 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Trading Up 2.3 %

Shares of WDAY traded up $5.27 during trading on Friday, reaching $239.12. 1,804,154 shares of the company traded hands, compared to its average volume of 1,456,817. The stock has a 50-day simple moving average of $246.99 and a 200-day simple moving average of $235.96. The stock has a market cap of $63.37 billion, a PE ratio of 41.66, a price-to-earnings-growth ratio of 4.64 and a beta of 1.35. Workday, Inc. has a twelve month low of $199.81 and a twelve 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.

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, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the firm earned $0.40 EPS. The firm's revenue for the quarter was up 16.5% on a year-over-year basis. On average, analysts anticipate that Workday, Inc. will post 2.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on WDAY shares. Morgan Stanley reduced their price target on shares of Workday from $325.00 to $315.00 and set an "overweight" rating for the company in a research report on Friday, August 23rd. Needham & Company LLC decreased their target price on Workday from $350.00 to $300.00 and set a "buy" rating on the stock in a research report on Wednesday, September 18th. Canaccord Genuity Group reiterated a "buy" rating and set a $300.00 price target on shares of Workday in a research report on Friday, September 13th. DA Davidson raised 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. Finally, Bank of America upped their target price on shares of Workday from $265.00 to $310.00 and gave the stock a "buy" rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $287.04.

Insider Activity at Workday

In other news, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the sale, the insider now owns 102,997 shares of the company's stock, valued at approximately $26,902,816.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder David A. Duffield sold 66,492 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the sale, the insider now owns 102,997 shares of the company's stock, valued at approximately $26,902,816.40. 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 can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $247.59, for a total value of $14,112,630.00. Following the completion of the transaction, the insider now owns 505,000 shares of the company's stock, valued at approximately $125,032,950. This trade 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 currently owned by company insiders.

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.