Royal London Asset Management Ltd. Buys 2,689 Shares of Workday, Inc. (NASDAQ:WDAY)

Royal London Asset Management Ltd. raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 3.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,490 shares of the software maker's stock after acquiring an additional 2,689 shares during the period. Royal London Asset Management Ltd.'s holdings in Workday were worth $21,139,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Simplicity Wealth LLC lifted its stake in Workday by 24.6% in the second quarter. Simplicity Wealth LLC now owns 4,156 shares of the software maker's stock worth $929,000 after purchasing an additional 821 shares during the last quarter. Csenge Advisory Group lifted its stake in shares of Workday by 10.9% in the 2nd quarter. Csenge Advisory Group now owns 1,192 shares of the software maker's stock valued at $266,000 after acquiring an additional 117 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Workday by 5.7% during the 2nd quarter. QRG Capital Management Inc. now owns 6,265 shares of the software maker's stock valued at $1,401,000 after acquiring an additional 339 shares during the period. Diversify Advisory Services LLC boosted its holdings in Workday by 12.9% during the 2nd quarter. Diversify Advisory Services LLC now owns 7,130 shares of the software maker's stock valued at $1,591,000 after acquiring an additional 813 shares during the period. Finally, MJP Associates Inc. ADV bought a new position in Workday during the 2nd quarter worth approximately $367,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $245.36, for a total value of $13,740,160.00. Following the sale, the insider now owns 449,000 shares in the company, valued at approximately $110,166,640. This trade represents a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total transaction of $738,934.52. Following the completion of the sale, the insider now directly owns 85,795 shares of the company's stock, valued at approximately $20,228,745.10. This trade represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 361,463 shares of company stock valued at $88,422,088. 20.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WDAY. Morgan Stanley boosted their price objective on Workday from $315.00 to $330.00 and gave the company an "overweight" rating in a research report on Wednesday, November 27th. Loop Capital dropped their price target on shares of Workday from $270.00 to $242.00 and set a "hold" rating for the company in a research report on Wednesday, November 27th. Barclays cut their price target on shares of Workday from $314.00 to $305.00 and set an "overweight" rating on the stock in a report on Wednesday, November 27th. KeyCorp upped their price objective on shares of Workday from $275.00 to $305.00 and gave the company an "overweight" rating in a research note on Friday, August 23rd. Finally, Piper Sandler reissued a "neutral" rating and issued a $270.00 target price (down from $285.00) on shares of Workday in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Workday has an average rating of "Moderate Buy" and a consensus price target of $288.14.

Workday Stock Up 1.4 %

Shares of NASDAQ WDAY traded up $3.72 during trading on Friday, reaching $266.42. The company had a trading volume of 3,269,670 shares, compared to its average volume of 2,798,111. The business's 50-day moving average is $249.96 and its 200 day moving average is $237.65. 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 stock has a market cap of $70.60 billion, a PE ratio of 44.18, a P/E/G ratio of 4.98 and a beta of 1.34. 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 issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.21%. The business had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.13 billion. During the same period in the previous year, the company earned $0.47 earnings per share. The business's revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, equities analysts forecast that Workday, Inc. will post 2.58 earnings per share for the current fiscal year.

Workday Company 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.